Removal from the Magellan Homeloans and other lender panels: Why they do it and how to get reinstated
- Non-compliance 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 adopt.
- 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
- Breaches of Magellan Homeloans conveyancing panel Terms and Conditions
- Recurring non-compliance with post completion requirements on behalf of Magellan Homeloans
Answers to Frequently asked questions concerning Magellan Homeloans panel reinstatement
- Does the COLP in my firm need to sign the reinstatement application to the Magellan Homeloans panel ?
- What are the next steps open to me if our Magellan Homeloans panel reinstatement application is refused and our client has a mortgage offer with the Magellan Homeloans?
- Does my practice need to apply annually 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 our options if my firm’s reinstatement panel submission with Magellan Homeloans is refused?
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.