Removal from the Magellan Homeloans and other lender panels: Why they do it and how to get reinstated
- Breaches of Magellan Homeloans conveyancing panel requirements
- Persistent delays in post completion requirements set by Magellan Homeloans
- Your law firm fails to meet the criteria to remain on the Magellan Homeloans conveyancing panel
- Significant 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.
- Missing deadline to reapply to remain on the Magellan Homeloans convincing panel
Answers to Frequently asked questions concerning Magellan Homeloans panel reinstatement
- Can we appeal if my firm’s application for reinstatement is turned down?
- What will happen if our Magellan Homeloans panel reinstatement application is rejected and the client of the firm has a mortgage offer with the Magellan Homeloans?
- How often will this firm be required to re-apply to remain on the Magellan Homeloans conveyancing panel?
- Please can you set out the application procedures to be reinstated onto the Magellan Homeloans conveyancing panel?
- Is there a fee to revert back 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 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.