Removal from the First Direct and other lender panels: Why they do it and how to get reinstated
- Non-compliance with the First Direct panel requirements, the written instructions that First Direct give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which First Direct may subsequently adopt.
- Recurring delays in registering a charge on behalf of First Direct Delays or failure to register the First Direct charge may result in referral to external lawyers of First Direct to complete outstanding requirements.
- Your law firm no longer meets the criteria to remain on the First Direct conveyancing panel
- Significant non-compliance with post completion requirements on behalf of First Direct
- Breaches of First Direct conveyancing panel Terms and Conditions
Questions First Direct panel reinstatement firms ask us
- Is there a charge to revert back onto the First Direct conveyancing panel?
- Can we act for First Direct while the appeal for reinstatement on the First Direct panel is being reviewed? How do I discover if our reinstatement application to the First Direct panel is approved?
- What happens if our First Direct panel reinstatement application is declined and the client of the firm has a mortgage application with the First Direct?
- What is the application process to be reinstated onto the First Direct conveyancing panel?
- Does the COLP in my firm need to complete the reinstatement application to the First Direct panel ?
Top Tip: The best way to avoid the hassle of seeking First Direct panel reinstatement is to ensure that your firm is not removed off of the First Direct 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 First Direct conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to First Direct 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 First Direct conveyancing panel.