Removal from the MBS Lending Ltd and other lender panels: Why they do it and how to get reinstated
- Non-compliance with the MBS Lending Ltd panel requirements, the written instructions that MBS Lending Ltd give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which MBS Lending Ltd may subsequently adopt.
- Your firm fails to meet the criteria to remain on the MBS Lending Ltd conveyancing panel
- MBS Lending Ltd 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 registering a charge on behalf of MBS Lending Ltd Delays or failure to register the MBS Lending Ltd charge may result in referral to external lawyers of MBS Lending Ltd to complete outstanding requirements.
- Significant delays in post completion requirements set by MBS Lending Ltd
Answers to Frequently asked questions concerning MBS Lending Ltd panel reinstatement
- Am I restricted as to the number of occasions my practice can submit applications to get back on the MBS Lending Ltd conveyancing panel?
- How long does the application process take when applying to revert back onto the MBS Lending Ltd conveyancing panel?
- Does my practice need to apply annually to remain on the MBS Lending Ltd conveyancing panel?
- Is it the practice manager who is required to complete the reinstatement application to the MBS Lending Ltd panel ?
- Can this firm act for MBS Lending Ltd while the application for reinstatement on the MBS Lending Ltd panel is being reviewed? How do I know if our reinstatement application to the MBS Lending Ltd panel is approved?
Top Tip: The best way to avoid the hassle of seeking MBS Lending Ltd panel reinstatement is to ensure that your firm is not removed off of the MBS Lending Ltd 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 MBS Lending Ltd conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to MBS Lending Ltd 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 MBS Lending Ltd conveyancing panel.