Removal from the Co operative Bank and other lender panels: Why they do it and how to get reinstated
- Your practice no longer meets the criteria to remain on the Co operative Bank conveyancing panel
- Co operative Bank 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.
- Recurring delays in registering a charge on behalf of Co operative Bank Delays or failure to register the Co operative Bank charge may result in referral to external lawyers of Co operative Bank to complete outstanding requirements.
- Failure to act in accordance with the Co operative Bank panel terms, the written instructions that Co operative Bank provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Co operative Bank may subsequently adopt.
- Failure to reapply to remain on the Co operative Bank convincing panel
Co operative Bank panel reinstatement: Five Common Questions
- Who should complete the reinstatement application to the Co operative Bank panel ?
- Can this firm act for Co operative Bank while the application for reinstatement on the Co operative Bank panel is being assessed? How do I know if our reinstatement application to the Co operative Bank panel is approved?
- Is there a charge to be reinstated onto the Co operative Bank conveyancing panel?
- How often will this firm be required to re-apply to be reinstated on the Co operative Bank conveyancing panel?
- What are our options if my firm’s reinstatement panel application with Co operative Bank is declined?
Top Tip: The best way to avoid the hassle of seeking Co operative Bank panel reinstatement is to ensure that your firm is not removed off of the Co operative Bank 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 Co operative Bank conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Co operative Bank 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 Co operative Bank conveyancing panel.