Removal from the Lloyds and other lender panels: Why they do it and how to get reinstated
- Lloyds may terminate membership of its conveyancing panel where a firm provides false answers in its application form or in relation to any future requests for information.
- Failure to act in accordance with the Lloyds panel terms, 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.
- Your practice no longer meets the criteria to remain on the Lloyds conveyancing panel
- Missing deadline to reapply to remain on the Lloyds convincing panel
- Breaches of Lloyds conveyancing panel Terms and Conditions
Common queries about Lloyds conveyancing panel reinstatement
- What is the application protocol to revert back onto the Lloyds conveyancing panel?
- Does the COLP in my firm need to sign the reinstatement application to the Lloyds panel ?
- What are the next steps open to me if our Lloyds panel reinstatement application is turned down and the client of the firm has a mortgage application with the Lloyds?
- How often will this firm be required to re-apply to remain on the Lloyds conveyancing panel?
- Can this firm act for Lloyds while the application for reinstatement on the Lloyds panel is being progressed? How do I know if our reinstatement appeal to the Lloyds panel is accepted?
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.