Removal from the Family Building Society and other lender panels: Why they do it and how to get reinstated
- Failure to act in accordance with the Family Building Society panel requirements, the written instructions that Family Building Society give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Family Building Society may subsequently adopt.
- Family Building Society 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 practice fails to meet the criteria to remain on the Family Building Society conveyancing panel
- Missing deadline to reapply to be on the Family Building Society convincing panel
- Recurring delays in registering security on behalf of Family Building Society Delays or failure to register the Family Building Society charge may result in referral to external lawyers of Family Building Society to complete outstanding requirements.
Family Building Society panel reinstatement: Five Common Questions
- What will happen if our Family Building Society panel reinstatement application is rejected and our client has a mortgage offer with the Family Building Society?
- Can this firm act for Family Building Society while the appeal for reinstatement on the Family Building Society panel is being assessed? How do I discover if our reinstatement application to the Family Building Society panel is approved?
- Is the door firmly shut if our reinstatement panel submission with Family Building Society is rejected?
- Who should complete the reinstatement application to the Family Building Society panel ?
- Does my practice need to apply annually to be reinstated on the Family Building Society conveyancing panel?
Top Tip: The best way to avoid the hassle of seeking Family Building Society panel reinstatement is to ensure that your firm is not removed off of the Family Building Society 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 Family Building Society conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Family Building Society 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 Family Building Society conveyancing panel.