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 fails to provide any relevant information or provide incorrect information in its application form or in relation to any future requests for information.
  • Failure to reapply to remain on the Magellan Homeloans convincing panel
  • Persistent non-compliance with post completion requirements on behalf of Magellan Homeloans
  • 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.
  • Your firm fails to meet the criteria to remain on the Magellan Homeloans conveyancing panel

Magellan Homeloans panel reinstatement : You have questions, we have answers

  • Am I restricted as to the number of times my firm can submit applications to be reinstated on the Magellan Homeloans conveyancing panel?
  • What times frames are involved when applying to revert back onto the Magellan Homeloans conveyancing panel?
  • What are the consequences if our Magellan Homeloans panel reinstatement application is declined and the client of the firm has a mortgage application with the Magellan Homeloans?
  • Are you able to explain why my firm’s application for reinstatement is rejected?
  • Can this firm act for Magellan Homeloans while the application for reinstatement on the Magellan Homeloans panel is being assessed? How do I know if our reinstatement application to the Magellan Homeloans panel is approved?

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 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 Magellan Homeloans conveyancing panel.

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