Removal from the First Direct and other lender panels: Why they do it and how to get reinstated
- Significant non-compliance with post completion requirements set by First Direct
- Non-compliance with the First Direct panel terms, the written instructions that First Direct provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which First Direct may subsequently subscribe.
- Breaches of First Direct conveyancing panel requirements
- Your law firm fails to meet the criteria to remain on the First Direct conveyancing panel
- 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.
First Direct panel reinstatement : You have questions, we have answers
- Am I restricted as to the number of occasions my practice can submit applications to get back on the First Direct conveyancing panel?
- What happens if our First Direct panel reinstatement application is rejected and our client has a mortgage offer with the First Direct?
- Is there a cost to be reinstated onto the First Direct conveyancing panel?
- Is the door firmly shut if my firm’s reinstatement panel application with First Direct is declined?
- What times frames are involved when applying to revert back onto the First Direct conveyancing 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.