Removal from the Bank of Scotland and other lender panels: Why they do it and how to get reinstated
- 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.
- Your law firm fails to meet the criteria to remain on the Bank of Scotland conveyancing panel
- Failure to act in accordance with the Bank of Scotland panel requirements, 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 adopt.
- Breaches of Bank of Scotland conveyancing panel requirements
- Failure to reapply to be on the Bank of Scotland convincing panel
Top questions concerning Bank of Scotland panel reinstatement
- What are the next steps open to me if our Bank of Scotland panel reinstatement application is declined and our client has a mortgage offer with the Bank of Scotland?
- Is the door firmly shut if our reinstatement panel application with Bank of Scotland is turned down?
- Is there a limit to the amount of times my practice can apply to get back on the Bank of Scotland conveyancing panel?
- Can we act for Bank of Scotland while the application for reinstatement on the Bank of Scotland panel is being assessed? How do I find out if our reinstatement application to the Bank of Scotland panel is accepted?
- Is there a cost to be reinstated onto the Bank of Scotland conveyancing panel?
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 appointed 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.