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.
  • 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.
  • Significant delays in post completion requirements on behalf of Magellan Homeloans
  • Breaches of Magellan Homeloans conveyancing panel requirements
  • Persistent delays in registering a charge 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 panel reinstatement : questions that we get asked

  • Does the COLP in my firm need to complete the reinstatement application to the Magellan Homeloans panel ?
  • Can we act for Magellan Homeloans while the appeal for reinstatement on the Magellan Homeloans panel is being processed? How do I find out if our reinstatement appeal to the Magellan Homeloans panel is accepted?
  • Are you able to explain why my firm’s application for reinstatement is turned down?
  • How often will this firm be required to re-apply to remain on the Magellan Homeloans conveyancing panel?
  • Is the door firmly shut if my firm’s reinstatement panel application with Magellan Homeloans is rejected?

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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