Suffolk Building Society Conveyancing Panel Compliance Audit

The primary reason to commission a Suffolk Building Society panel compliance audit is to give you peace of mind that you are complying with the Handbook requirements of Suffolk Building Society. Non-compliance runs the risk of claims on your insurance, loss of conveyancing panel status and a tarnished reputation and even SRA action – damage that far outweighs the cost and any minimal, temporary inconvenience that may be caused by you organising a Suffolk Building Society panel compliance audit.

Suffolk Building Society is one of the firm’s most valued clients for conveyancing work.

Are you 100% sure that you are adhering to the requirements as a firm on the Suffolk Building Society conveyancing panel?

It’s not a bad idea to bring in your own external auditors who may conduct your CQS audits 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.

Our full directory of Suffolk Building Society Handbook instructions enables us to examine a law firms’ conveyancing files whilst on the Suffolk Building Society conveyancing panel retrospectively and in much the same way as Suffolk Building Society would.

Our panel of experienced assessors objectively review utilising propriety templates and Lender instruction archives whether each transaction breached your contractual obligations at the point that the CoT was signed off.

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. Our team tend to audit nine case files involving Suffolk Building Society, which we can randomly select by tenure (e.g. leasehold) year of completion or other characteristics.

At the end of the audit, Lexsure will supply you with a full written findings for your transactions with Suffolk Building Society and a baseline risk summary. We can also meet with you to set out our auditor’s findings and recommendations in a formal debrief. Subsequent audits can be scheduled. Lexsure will contact the head of conveyancing to request the status of planned actions. A maximum of one lender conveyancing panel audits may be commissioned by a firm in a twelve month period.

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 rebook a Suffolk Building Society panel compliance review. 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 conduct a Suffolk Building Society panel compliance file audit

FAQs : Suffolk Building Society Conveyancing File Audits

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 frequently conduct conveyancing webinars focused on breaches across all lenders. Please contact your search company to make a reservation.

Do your audits cover commercial conveyancing transactions with lender compliance issues?

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

Lexsure were referenced on the conveyancing section of my PI Insurance form this year. Do certain insurers offer discounts where a firm conducts a lender compliance audit?

Please contact your insurer or insurance broker.

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 can help with?

Subject to the date of the P2’s, we may be able to assist. Please contact us directly asking to speak to someone in the Lexsure Litigation Support Team.

I have been informed that if I commission an audit through certain search providers that I can have the lender compliance conveyancing audit for free. Is that correct?

As of today we are not aware of any such offer but please contact your search provider directly and ask them to call us. Once in a while discount voucher codes are available via certain search providers on a specific panel.