If your firm values Yorkshire Building Society as a conveyancing client then carry out a Yorkshire Building Society panel compliance audit.
Yorkshire Building Society is most likely one of the firm’s most important clients for conveyancing work.
Are you 100% sure that you are complying with the requirements as a practice on the Yorkshire Building Society conveyancing panel?
Lexsure stand alone in being able to carry out a full lender panel compliance audit for your conveyancing files where Yorkshire Building Society are the lending client.
Lexsure’s comprehensive directory of Yorkshire Building Society Handbook instructions gives us the ability to review a law firms’ conveyancing cases whilst on the Yorkshire Building Society conveyancing panel retrospectively and in the same vein as Yorkshire Building Society would.
Our panel of experienced auditors impartially review making use of propriety templates and Lender P2 archives whether each conveyancing matter breached your contractual obligations at the point that the CoT was signed off.
In the absence of your search company offering the service as part of your account management the costs is £1,975+VAT. Our team tend to review eight remortgage or purchase files involving Yorkshire Building Society, which we can stratify by tenure (e.g. leasehold) year of completion or a mix characteristics.
Once the fieldwork is completed, we will prepare a detailed compliance profile for your files with Yorkshire Building Society and a baseline risk summary. We will also arrange a conference call with you to explain our auditor’s findings and recommendations in a formal interview. Audit follow-up 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 in a twelve month period.
Lexsure’s Conveyancing Audit Scheduling System (LCASS) enables your firm to choose the date, time and location of a Yorkshire 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 Yorkshire Building Society panel compliance audit. Please note that before accepting a Yorkshire Building Society conveyancing panel compliance review we have to conduct a conflict check. It is not always possible for Lexsure to conduct a Yorkshire Building Society panel Part 2 compliance audit
Yorkshire Building Society Conveyancing File Audits : Your Questions
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 Yorkshire 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.
Does Lexsure subcontract their P2 Handbook compliance audits to an external panel of conveyancing experts?
No. We do not outsourcelender compliance audits to an external panel of conveyancing experts. Audits are completed by our in-house team.
Is there an option for the audit to cover commercial conveyancing transactions with lender compliance issues?
No. The lender compliance audit only covers residential conveyancing.
Can you give examples of some of the more common Lender Handbook breaches by conveyancing lawyers on the Yorkshire Building Society panel?
Lexsure occasionally conduct conveyancing webinars focused on breaches across all lenders. Please contact your search company to make a reservation.
My practice is on the Yorkshire Building Society conveyancing panel and we handle both purchases and remortgage cases. Would your audit cover both case types?