Removal from the Lloyds and other lender panels: Why they do it and how to get reinstated
- Significant delays in registering a charge 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.
- Non-compliance with the Lloyds panel terms, the written instructions that Lloyds provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Lloyds may subsequently adopt.
- Breaches of Lloyds conveyancing panel requirements
- 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.
- Your firm fails to meet the criteria to remain on the Lloyds conveyancing panel
Lloyds panel reinstatement : You have questions, we have answers
- Do any avenues remain open if our reinstatement panel submission with Lloyds is rejected?
- What times frames are involved when applying to revert back onto the Lloyds conveyancing panel?
- What will happen if our Lloyds panel reinstatement application is rejected and the client of the firm has a mortgage offer with the Lloyds?
- Is there a cost to revert back onto the Lloyds conveyancing panel?
- What is the application process to revert back onto the Lloyds conveyancing panel?
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 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 Lloyds conveyancing panel.