Removal from the Masthaven Bank and other lender panels: Why they do it and how to get reinstated
- Masthaven Bank 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.
- Your law firm no longer meets the criteria to remain on the Masthaven Bank conveyancing panel
- Recurring delays in post completion requirements on behalf of Masthaven Bank
- Failure to act in accordance with the Masthaven Bank panel requirements, the written instructions that Masthaven Bank provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Masthaven Bank may subsequently subscribe.
- Failure to reapply to remain on the Masthaven Bank convincing panel
Masthaven Bank panel reinstatement: Five Common Questions
- Does my practice need to apply annually to be reinstated on the Masthaven Bank conveyancing panel?
- Is there a fee to be reinstated onto the Masthaven Bank conveyancing panel?
- Am I restricted as to the amount of times my law firm can submit applications to be reinstated on the Masthaven Bank conveyancing panel?
- What times frames are involved when applying to revert back onto the Masthaven Bank conveyancing panel?
- What will happen if our Masthaven Bank panel reinstatement application is refused and the client of the firm has a mortgage offer with the Masthaven Bank?
Top Tip: The best way to avoid the hassle of seeking Masthaven Bank panel reinstatement is to ensure that your firm is not removed off of the Masthaven Bank 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 Masthaven Bank conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Masthaven Bank 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 Masthaven Bank conveyancing panel.