Removal from the First Direct and other lender panels: Why they do it and how to get reinstated
- First Direct may terminate membership of its conveyancing panel where a firm provides false answers in its application form or in relation to any future requests for information.
- Persistent 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.
- Failure to reapply to remain on the First Direct convincing panel
- Failure to act in accordance 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.
- Persistent non-compliance with post completion requirements set by First Direct
First Direct panel reinstatement : questions that we get asked
- Is there a limit to the number of times my practice can submit applications to be reinstated on the First Direct conveyancing panel?
- Is it possible to find out my firm’s application for reinstatement is turned down?
- Is there a fee to revert back onto the First Direct conveyancing panel?
- Does my practice need to apply annually to remain on the First Direct conveyancing panel?
- Can you outline the application protocol 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 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.