Removal from the First Direct and other lender panels: Why they do it and how to get reinstated
- Persistent 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 firm fails to meet the criteria to remain on the First Direct conveyancing panel
- Missing deadline to reapply to be on the First Direct convincing panel
- Failure to act in accordance with the First Direct panel requirements, 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 adopt.
- Recurring non-compliance with post completion requirements on behalf of First Direct
Questions First Direct panel reinstatement firms ask us
- Does my practice need to apply annually to remain on the First Direct conveyancing panel?
- Is there a limit to the amount of times my practice can apply to be reinstated on the First Direct conveyancing panel?
- Can we act for First Direct while the appeal for reinstatement on the First Direct panel is being processed? How do I discover if our reinstatement appeal to the First Direct panel is approved?
- What times frames are involved when applying to revert back onto the First Direct conveyancing panel?
- Please can you set out the application procedures to be reinstated 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 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 First Direct conveyancing panel.