Removal from the Bank of Scotland and other lender panels: Why they do it and how to get reinstated
- Non-compliance with the Bank of Scotland panel terms, the written instructions that Bank of Scotland give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Bank of Scotland may subsequently subscribe.
- Breaches of Bank of Scotland conveyancing panel requirements
- Failure to reapply to be on the Bank of Scotland convincing panel
- Significant delays in registering a charge on behalf of Bank of Scotland Delays or failure to register the Bank of Scotland charge may result in referral to external lawyers of Bank of Scotland to complete outstanding requirements.
- Significant non-compliance with post completion requirements set by Bank of Scotland
Questions Bank of Scotland panel reinstatement firms ask us
- What will happen if our Bank of Scotland panel reinstatement application is rejected and the client of the firm has a mortgage application with the Bank of Scotland?
- Is it the practice manager who is required to sign the reinstatement application to the Bank of Scotland panel ?
- Please can you set out the application protocol to revert back onto the Bank of Scotland conveyancing panel?
- Is there a fee to be reinstated onto the Bank of Scotland conveyancing panel?
- What times frames are involved when applying to revert back 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 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.