Regular users of the Lawyer Checker AES (Account and Entity Screen) search, PLS Solicitors, dodged a conveyancing calamity back in November 2014 thanks to Lawyer Checker’s service.
PLS were well into a purchase conveyancing transaction on behalf of their client and, as is part of their risk management processes, a Lawyer Checker AES search was conducted prior to the transferring of funds.
The result from this search was ‘Unknown – with a Notice’ what this meant was that the LC database had detected that the account number provided by the vendor conveyancer showed no conveyancing transactional history and in fact through further research, carried out by the searches team, it was discovered that the recipient firm, Nationwide Solicitors, had been intervened on 29th October 2014 less than a week before PLS carried out their search.
It was this vital information that STOPPED PLS from sending their client funds and lender monies to a vendor’s conveyancer who no longer operated. Checking the Find A Solicitor site would not have been enough in this instance as at the time Nationwide were still listed.
Operations Director, Tricia Lonorgan, for PLS Solicitors says “Having a policy check like Lawyer Checker’s Account and Entity Screen search ensures that we have the best possible risk management processes when it comes to dealing with client money and lender funds. This instance at the end of last year only served to reinforce why we implement this quick and easy search on all of our conveyancing transactions. Is it just not worth the risk to NOT check the recipient account number.”
To find out more about how to protect your client’s money call 0800 133 7127 or find out how to sign up by clicking the link.