Panel performance management

The role of the Remortgage Services Team includes volume management, performance monitoring, and file review/development sessions.

Daily checks

The volumes and performance of the firms are both monitored daily, using statistics gathered through our Servicer Tracking and Reporting System (STARS).  Allocations of work are adjusted according to capacity and performance.

Quarterly checks

A legal quality check is undertaken each quarter, to ensure that each firm's legal process and customer service are up to the agreed high standards.

Six-monthly checks

We conduct a registration check with the Land Registry twice a year. This involves checking a sample of completed cases, to ensure that STARS is updated on time and that the lender has first legal charge over the property.

Annual checks

Once a year, firms send us photocopies of requested files and the Remortgage Services Team undertakes an audit to ensure legal accuracy, timely completion and that letters are written in a customer focused manner.

A Performance and Development Review is also conducted once a year at each of the firms' premises. This includes a file audit, a review of the firm's management structure, technical capability and internal processes.

A report is sent to each of the firms giving them details of any development areas and a list of time-bound objectives to help them to improve.

Our legal department conducts panel meetings with each of the lender panels. This enables us to review lender instructions, share best practice and give firms an update on developments for the specific lender. We also use this opportunity to re-iterate to firms the ethos and values of the particular lender to ensure that this is reflected through the firm's conduct.