Suffolk Building Society Conveyancing Panel Compliance Audit

If you value Suffolk Building Society as a conveyancing client then carry out a Suffolk Building Society panel compliance audit.

Suffolk Building Society is in all probability one of your most important clients for conveyancing work.

How certain are you that you are strictly following the requirements as a practice on the Suffolk Building Society conveyancing panel?

Lexsure is the only company offering a full lender panel compliance audit for your conveyancing files where Suffolk Building Society are the lender.

Our comprehensive bank of Suffolk Building Society Handbook instructions enables us to examine a law firms’ conveyancing cases whilst on the Suffolk Building Society conveyancing panel retrospectively and in the similar manner Suffolk Building Society would.

Lexsure’s panel of expert auditors impartially assess utilising propriety templates and Lender P2 archives whether each conveyancing matter breached your contractual obligations at the time the Certificate of Title was rendered.

For conveyancing firms where their search provider is not offering the service, our fee for a Suffolk Building Society compliance panel audit is £1,975+VAT. We will audit eight remortgage or purchase files involving Suffolk Building Society, which we can stratify by tenure (e.g. leasehold) date or a mix characteristics.

At the end of the audit, Lexsure will supply you with a full written findings for your cases with Suffolk Building Society and a baseline risk profile. We will also follow-up with you to explain our auditor’s findings and recommendations in a formal interview. Further audits can be scheduled. Lexsure will contact the firm to request the status of actions taken. No more than one lender conveyancing panel audits may be requested by a practice a year.

Lexsure’s Conveyancing Audit Scheduling System (LCASS) enables your firm to choose the date, time and location of a Suffolk Building Society conveyancing panel compliance audit. The system is available 24/7, which eliminates most instances where you have to wait for business hours to contact Lexsure to schedule or cancel a Suffolk Building Society panel compliance file audit. Please note that before accepting a Suffolk Building Society conveyancing panel compliance review we have to conduct a conflict check. It may not be possible for Lexsure to conduct a Suffolk Building Society panel Handbook risk review

Common questions about Suffolk Building Society conveyancing file audits

Why would my firm consider a Suffolk Building Society handbook compliance audit?

Lexsure occasionally come across Suffolk Building Society conveyancing panel firms who express confidence that they have comprehensive risk protocols. Yet Lexsure sees common breaches of the lender Handbook instructions. In fact, we have yet to complete an audit that didn’t uncover serious breaches. An adverse externally-commissioned audit by a lender could result in an insurance claim or removal from a panel. Breaches of handbook requirements for Suffolk Building Society or any lender leaves you open to costly and damaging claims if the lender suffers a loss and even disciplinary action by your regulator. Lexsure’s lender compliance audits are an efficient way to ensure there aren’t costly skeletons in your conveyancing cupboard.

What is the selection criteria for joining the Suffolk Building Society conveyancing panel?

You will need to check with Suffolk Building Society directly or their panel manager, if any. Lexsure is not connected with Suffolk Building Society in managing their conveyancing panel or selection criteria.

Is there an option for the audit to cover commercial conveyancing transactions with lender compliance issues?

No. The lender compliance audit does not extend beyond residential conveyancing.

Whilst I do not require the services of Lexsure for an Suffolk Building Society UK Finance Mortgage Handbook Audit, I I require a copy of the P2 requirements for Suffolk Building Society for a specific date. Is this something you are able to assist with?

Depending on the date, we may be able to assist. Please contact us directly asking to speak to someone in the Lexsure Litigation Support Team.

Are you able to provide examples of some of the more common Lender Handbook breaches by conveyancing lawyers on the Suffolk Building Society panel?

Lexsure periodically conduct conveyancing webinars on common breaches across all lenders. Please contact your search company to make a reservation.