Removal from the Magellan Homeloans and other lender panels: Why they do it and how to get reinstated
- Failure to act in accordance with the Magellan Homeloans panel terms, the written instructions that Magellan Homeloans provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Magellan Homeloans may subsequently subscribe.
- Significant non-compliance with post completion requirements set by Magellan Homeloans
- 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.
- 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.
Magellan Homeloans panel reinstatement : You have questions, we have answers
- What times frames are involved when applying to revert back onto the Magellan Homeloans conveyancing panel?
- How do I discover why my firm’s application for reinstatement is refused?
- Who should complete the reinstatement application to the Magellan Homeloans panel ?
- Do any avenues remain open if our reinstatement panel application with Magellan Homeloans is declined?
- Does my practice need to apply annually to remain on 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.