Removal from the Co operative Bank and other lender panels: Why they do it and how to get reinstated
- Breaches of Co operative Bank conveyancing panel 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 subscribe.
- Persistent delays in registering security 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.
- Recurring delays in post completion requirements set by Co operative Bank
- Co operative Bank 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.
FAQs : Co operative Bank Conveyancing panel reinstatement
- Does the COLP in my firm need to sign the reinstatement application to the Co operative Bank panel ?
- How long does the application process take when applying to be reinstated onto the Co operative Bank conveyancing panel?
- Can this firm act for Co operative Bank while the appeal for reinstatement on the Co operative Bank panel is being assessed? How do I discover if our reinstatement application to the Co operative Bank panel is accepted?
- What are our options if our reinstatement panel submission with Co operative Bank is turned down?
- What are the next steps open to me if our Co operative Bank panel reinstatement application is refused and the client of the firm has a mortgage offer with the Co operative Bank?
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 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 Co operative Bank conveyancing panel.