Removal from the Lloyds and other lender panels: Why they do it and how to get reinstated
- Failure to act in accordance with the Lloyds panel requirements, the written instructions that Lloyds give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Lloyds may subsequently subscribe.
- Lloyds 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.
- Significant delays in post completion requirements on behalf of Lloyds
- Failure to reapply to be on the Lloyds convincing panel
- Recurring delays in registering security on behalf of Lloyds Delays or failure to register the Lloyds charge may result in referral to external lawyers of Lloyds to complete outstanding requirements.
Frequently asked questions concerning Lloyds panel reinstatement
- Is there a cost to be reinstated onto the Lloyds conveyancing panel?
- Does my practice need to apply annually to be reinstated on the Lloyds conveyancing panel?
- What are our options if our reinstatement panel application with Lloyds is refused?
- Can we act for Lloyds while the appeal for reinstatement on the Lloyds panel is being reviewed? How do I discover if our reinstatement appeal to the Lloyds panel is approved?
- What are the consequences if our Lloyds panel reinstatement application is turned down and our client has a mortgage offer with the Lloyds?
Top Tip: The best way to avoid the hassle of seeking Lloyds panel reinstatement is to ensure that your firm is not removed off of the Lloyds 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 Lloyds conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Lloyds 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 Lloyds conveyancing panel.