Removal from the Magellan Homeloans and other lender panels: Why they do it and how to get reinstated
- Your practice no longer meets the criteria to remain on the Magellan Homeloans conveyancing panel
- Breaches of Magellan Homeloans conveyancing panel Terms and Conditions
- Missing deadline to reapply to be on the Magellan Homeloans convincing panel
- 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.
- Non-compliance with the Magellan Homeloans panel requirements, 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 Conveyancing Panel Reinstatement: Common Questions
- What happens if our Magellan Homeloans panel reinstatement application is declined and our client has a mortgage application with the Magellan Homeloans?
- Am I restricted as to the number of occasions my firm can apply to get back on the Magellan Homeloans conveyancing panel?
- Does my practice need to apply annually to be reinstated on the Magellan Homeloans conveyancing panel?
- Can you outline the application procedures to revert back onto the Magellan Homeloans conveyancing panel?
- Can this firm act for Magellan Homeloans while the application for reinstatement on the Magellan Homeloans panel is being processed? How do I discover if our reinstatement application to the Magellan Homeloans panel is approved?
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.