Removal from the Bank of Ireland and other lender panels: Why they do it and how to get reinstated
- Bank of Ireland 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 practice fails to meet the criteria to remain on the Bank of Ireland conveyancing panel
- Non-compliance with the Bank of Ireland panel terms, the written instructions that Bank of Ireland give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Bank of Ireland may subsequently subscribe.
- Missing deadline to reapply to be on the Bank of Ireland convincing panel
- Persistent delays in registering security on behalf of Bank of Ireland Delays or failure to register the Bank of Ireland charge may result in referral to external lawyers of Bank of Ireland to complete outstanding requirements.
Top questions concerning Bank of Ireland panel reinstatement
- Is there a cost to revert back onto the Bank of Ireland conveyancing panel?
- Can this firm act for Bank of Ireland while the application for reinstatement on the Bank of Ireland panel is being reviewed? How do I know if our reinstatement appeal to the Bank of Ireland panel is accepted?
- Does my practice need to apply annually to remain on the Bank of Ireland conveyancing panel?
- Does the COLP in my firm need to complete the reinstatement application to the Bank of Ireland panel ?
- Am I restricted as to the amount of times my practice can submit applications to be reinstated on the Bank of Ireland conveyancing panel?
Top Tip: The best way to avoid the hassle of seeking Bank of Ireland panel reinstatement is to ensure that your firm is not removed off of the Bank of Ireland 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 Ireland conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Bank of Ireland 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 Ireland conveyancing panel.