West Bromwich Building Society Conveyancing Panel Compliance Audit

You can hope that you are complying with the conveyancing panel Handbook requirements of West Bromwich Building Society or you can be sure by commissioning a compliance audit.

West Bromwich Building Society is probably one of your most important clients for conveyancing work.

Can you be sure that you are strictly following the instructions as a practice on the West Bromwich 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 stand alone in being able to carry out a comprehensive lender panel compliance audit for your conveyancing files where West Bromwich Building Society are the lending client.

Lexsure’s comprehensive directory of West Bromwich Building Society Handbook instructions enables us to examine a law firms’ conveyancing cases whilst on the West Bromwich Building Society conveyancing panel retrospectively and in the similar manner West Bromwich Building Society would.

Lexsure’s panel of expert auditors objectively review using propriety templates and Lender Handbook archives whether each transaction breached the requirements at the time the CoT was signed off.

For conveyancing firms where their search provider is not offering the service, our fee for a West Bromwich Building Society compliance panel audit is £1,975+VAT. Lexsure tend to review 6 transaction files involving West Bromwich Building Society, which we can randomly select by tenure (e.g. leasehold) year of completion or other variables.

Once finished, we will issue a detailed findings for your files with West Bromwich Building Society and a baseline risk score. We will also follow-up with you to set out our auditor’s findings and guidance in a formal debrief. Subsequent audits will occur. Our office will contact the appropriate personnel to request the status of planned actions. A maximum of one lender conveyancing panel audits may be commissioned by a firm in a calendar year.

Lexsure’s Conveyancing Audit Scheduling System (LCASS) enables your firm to choose the date, time and location of a West Bromwich 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 West Bromwich Building Society panel compliance file audit. Please note that before accepting a West Bromwich Building Society conveyancing panel compliance review we have to conduct a conflict check. It may not be possible for Lexsure to agree to a West Bromwich Building Society panel compliance file audit

Frequently asked questions concerning West Bromwich Building Society conveyancing file audits


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

You will need to check with West Bromwich Building Society directly or their panel manager, if any. There is no connection between Lexsure and West Bromwich Building Society in managing their conveyancing panel or selection criteria.

Are lender Handbook audits common?

It is becoming more common. Even with repossessions at a low rate lenders are on the move with conveyancing file inspections are already on the increase. Lenders (although not specifically West Bromwich Building Society) and PI insurers complain that non-compliance is still all too frequent, even in reputable conveyancing firms. With pressure on interest rates and an uncertain financial climate, we recommend ensuring your compliance before repossessions rise and even more file audits are commissioned by panel managers.

If my firm is an existing user of Lexsure services, such as e-ROT does this include access to a Lexsure Lender Compliance Audit at no extra cost?

The Lexsure Lender Compliance Audit is a separate facility for property law firms on lender panels and is independently charged for.

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

Lexsure occasionally conduct conveyancing webinars on common breaches across all lenders. Please feel free to book a place.

How long will I need to wait before I receive my written report to discuss with my partners following an audit of our firm's West Bromwich Building Society panel conveyancing files?

The intention is to issue a written report within two weeks of an audit.