Removal from the First Direct and other lender panels: Why they do it and how to get reinstated
- 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 subscribe.
- Failure to reapply to remain on the First Direct convincing panel
- Significant delays in registering security 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 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.
- Significant delays in post completion requirements on behalf of First Direct
First Direct panel reinstatement : questions that we get asked
- Can you outline the application protocol to revert back onto the First Direct conveyancing panel?
- What happens if our First Direct panel reinstatement application is declined and our client has a mortgage application with the First Direct?
- Are you able to explain why my firm’s application for reinstatement is turned down?
- How long does the application process take when applying to be reinstated onto the First Direct conveyancing panel?
- Is it the practice manager who is required to sign 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 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.