Playing a Game of Russian Roulette with Lender Clients
Anyone who has watched The Deer Hunter has seen for themselves the sticky results of losing at Russian Roulette.
Even though the downside isn’t quite as ‘life threatening’, when your firm receives a request from a lender with a list of files to be audited, the results can be severe for the firm. And for individual lawyers, a lender audit is potentially ‘career threatening’.
I’ve blogged before about the impact of the dreaded audit but I didn’t realise the extent to which some firms “pray for the best” when it comes lender compliance.
Ask yourself whether you have ever even considered a lender compliance audit. Many firms make enormous efforts to ensure their client Ts and Cs are compliant, or even their website copy, but don’t take the trouble to check on lender compliance. Yet the consequences for a firm tripping up on Handbook requirements can be fatal to the business.
It’s not just about peace of mind. A lender compliance audit can bring real value to your firm. A third party firm acting in the same way a lender would can uncover issues and knowledge gaps, addressing which will make your conveyancing processes more rigorous. In this day and age of increased accountability and regulatory requirements, audits should be welcomed, not feared.
Put it this way: if you bite the bullet, you won’t have to worry about dodging it.
Now, thanks to Searches UK, clients can commission their own, totally confidential audit from Lexsure … and, for a limited period they will pay for it!
For more information about how your firm can get your FREE Lexsure lender compliance audit and to discuss your bespoke requirements, please click here. Please don’t hesitate to contact Searches UK directly on 0800 043 1815 or email them at email@example.com to speak to one of their dedicated team today.
Kindly shared by Lexsure