Removal from the Magellan Homeloans and other lender panels: Why they do it and how to get reinstated

  • Significant 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.
  • Significant non-compliance with post completion requirements set by Magellan Homeloans
  • Missing deadline to reapply to be on the Magellan Homeloans convincing panel
  • Non-compliance with the Magellan Homeloans panel terms, the written instructions that Magellan Homeloans give you 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 fails to provide any relevant information or provide incorrect information in its application form or in relation to any future requests for information.

Magellan Homeloans panel reinstatement : questions that we get asked

  • Can we act for Magellan Homeloans while the application for reinstatement on the Magellan Homeloans panel is being processed? How do I discover if our reinstatement appeal to the Magellan Homeloans panel is approved?
  • Is there a limit to the number of occasions my law firm can apply to be reinstated on the Magellan Homeloans conveyancing panel?
  • How do I discover why this practice’s application for reinstatement is refused?
  • What are the consequences if our Magellan Homeloans panel reinstatement application is rejected and the client of the firm has a mortgage application with the Magellan Homeloans?
  • Do any avenues remain open 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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