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 fails to provide any relevant information or provide incorrect information in its application form or in relation to any future requests for information.
- Breaches of First Direct conveyancing panel Terms and Conditions
- Non-compliance 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.
- Persistent delays in post completion requirements on behalf of First Direct
- Failure to reapply to be on the First Direct convincing panel
Questions First Direct panel reinstatement firms ask us
- Is there a limit to the amount of occasions my practice can apply to be reinstated on the First Direct conveyancing panel?
- What happens if our First Direct panel reinstatement application is refused and the client of the firm has a mortgage application with the First Direct?
- How often will this firm be required to re-apply to remain on the First Direct conveyancing panel?
- Is there a charge to revert back 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 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.