Removal from the Magellan Homeloans and other lender panels: Why they do it and how to get reinstated

  • Magellan Homeloans 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.
  • Your firm fails to meet the criteria to remain on the Magellan Homeloans conveyancing panel
  • Missing deadline to reapply to be on the Magellan Homeloans convincing panel
  • Persistent delays in registering security on behalf of Magellan Homeloans Delays or failure to register the Magellan Homeloans charge may result in referral to external lawyers of Magellan Homeloans to complete outstanding requirements.
  • Significant non-compliance with post completion requirements on behalf of Magellan Homeloans

Answers to Frequently asked questions concerning Magellan Homeloans panel reinstatement

  • Is there a charge to revert back onto the Magellan Homeloans conveyancing panel?
  • Are you able to explain why my firm’s application for reinstatement is declined?
  • Can this firm act for Magellan Homeloans while the appeal for reinstatement on the Magellan Homeloans panel is being assessed? How do I discover if our reinstatement application to the Magellan Homeloans panel is approved?
  • What are the next steps open to me if our Magellan Homeloans panel reinstatement application is turned down and our client has a mortgage application with the Magellan Homeloans?
  • What times frames are involved when applying to be reinstated onto the Magellan Homeloans conveyancing panel?

Top Tip: The best way to avoid the hassle of seeking Magellan Homeloans panel reinstatement is to ensure that your firm is not removed off of the Magellan Homeloans 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 Magellan Homeloans conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Magellan Homeloans 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 Magellan Homeloans conveyancing panel.

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