Removal from the Bank of Scotland and other lender panels: Why they do it and how to get reinstated
- Breaches of Bank of Scotland conveyancing panel requirements
- Your practice no longer meets the criteria to remain on the Bank of Scotland conveyancing panel
- Bank of Scotland may terminate membership of its conveyancing panel where a firm fails to provide any relevant information or provide incorrect information in its application form or in relation to any future requests for information.
- Non-compliance with the Bank of Scotland panel terms, the written instructions that Bank of Scotland provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Bank of Scotland may subsequently subscribe.
- Persistent non-compliance with post completion requirements set by Bank of Scotland
Answers to Frequently asked questions concerning Bank of Scotland panel reinstatement
- What will happen if our Bank of Scotland panel reinstatement application is rejected and our client has a mortgage application with the Bank of Scotland?
- Who should sign the reinstatement application to the Bank of Scotland panel ?
- Is there a limit to the number of times my practice can apply to get back on the Bank of Scotland conveyancing panel?
- Is there a charge to revert back onto the Bank of Scotland conveyancing panel?
- Can this firm act for Bank of Scotland while the appeal for reinstatement on the Bank of Scotland panel is being processed? How do I discover if our reinstatement appeal to the Bank of Scotland panel is approved?
Top Tip: The best way to avoid the hassle of seeking Bank of Scotland panel reinstatement is to ensure that your firm is not removed off of the Bank of Scotland conveyancing panel in the first place.
Note: Subject to certain conditions Lexsure’s experts or consultants can assist in providing you with guidance for reinstatement onto the Bank of Scotland conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Bank of Scotland directly or via their preferred panel manager. Any reinstatement application will have to be made by your firm. For the avoidance of doubt, Lexsure (or the Conveycentric Team) are in no way involved in managing the Bank of Scotland conveyancing panel.