Suffolk Building Society is undoubtedly one of your most important clients for conveyancing work.
Are you 100% sure that you are strictly following the requirements as a firm on the Suffolk Building Society conveyancing panel?
You can ask one of your team to carry out an audit but Lexsure is uniquely positioned to conduct a full lender panel compliance audit for your conveyancing files where Suffolk Building Society are the the mortgagor.
Lexsure’s complete bank of Suffolk Building Society Handbook instructions gives us the ability to review a law firms’ conveyancing cases whilst on the Suffolk Building Society conveyancing panel retrospectively and in much the same way as Suffolk Building Society would.
Lexsure’s panel of experienced assessors impartially assess using propriety templates and Lender Handbook archives whether each transaction was in line with the requirements at the point that the CoT was submitted.
In the absence of your search company offering the service as part of your account management the fee for a Suffolk Building Society compliance panel audit is £1,975+VAT. Our team tend to audit eight remortgage or purchase files involving Suffolk Building Society, which we can stratify by tenure (e.g. leasehold) date or a multitude characteristics.
Once the fieldwork is completed, we will supply you with a full written compliance profile for your transactions with Suffolk Building Society and a baseline risk score. We will also follow-up with you to present our auditor’s findings and guidance in a formal interview. Further audits can be scheduled. Lexsure will contact the head of conveyancing to request the status of planned actions. No more than two lender conveyancing panel audits may be commissioned by a practice a year.
Lexsure’s Conveyancing Audit Scheduling System (LCASS) enables you 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 reschedule a Suffolk Building Society panel compliance audit. Please note that before accepting a Suffolk Building Society conveyancing panel compliance audit we have to conduct a conflict check. It is sometimes not possible for Lexsure to agree to a Suffolk Building Society panel compliance file audit
Where commissioned by your firm Lexsure has no duty to report breaches to Suffolk Building Society and we will ensure the results of your audit are completely confidential.