Xit2 has moved into the conveyancing sector with a service designed to cut down fraud committed by solicitors against lenders.

As part of its new Lender Conveyancer Exchange (LCX) service, xit2 will vet the conveyancers used by a lender, carrying out desk-bound data checks as well as physical visits to their premises to ensure PI insurance and passports are in order.

Xit2 says that once initial vetting is completed, “continuous data checks”” are carried out by the team to help lenders monitor the quality of the solicitor panel. LCX then sends this data to the lender.