Removal from the Furness Building Society and other lender panels: Why they do it and how to get reinstated
- Failure to act in accordance with the Furness Building Society panel terms, the written instructions that Furness Building Society provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Furness Building Society may subsequently adopt.
- Furness Building Society 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 registering security on behalf of Furness Building Society Delays or failure to register the Furness Building Society charge may result in referral to external lawyers of Furness Building Society to complete outstanding requirements.
- Significant delays in post completion requirements on behalf of Furness Building Society
- Breaches of Furness Building Society conveyancing panel requirements
Answers to Frequently asked questions concerning Furness Building Society panel reinstatement
- Does the COLP in my firm need to complete the reinstatement application to the Furness Building Society panel ?
- Can this firm act for Furness Building Society while the application for reinstatement on the Furness Building Society panel is being progressed? How do I know if our reinstatement application to the Furness Building Society panel is approved?
- Do any avenues remain open if my firm’s reinstatement panel application with Furness Building Society is refused?
- What is the application protocol to be reinstated onto the Furness Building Society conveyancing panel?
- What are the consequences if our Furness Building Society panel reinstatement application is turned down and our client has a mortgage offer with the Furness Building Society?
Top Tip: The best way to avoid the hassle of seeking Furness Building Society panel reinstatement is to ensure that your firm is not removed off of the Furness Building Society 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 Furness Building Society conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Furness Building Society 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 Furness Building Society conveyancing panel.