Removal from the Monmouthshire Building Society and other lender panels: Why they do it and how to get reinstated
- Recurring non-compliance with post completion requirements set by Monmouthshire Building Society
- Monmouthshire Building Society 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.
- Significant delays in registering security on behalf of Monmouthshire Building Society Delays or failure to register the Monmouthshire Building Society charge may result in referral to external lawyers of Monmouthshire Building Society to complete outstanding requirements.
- Failure to act in accordance with the Monmouthshire Building Society panel terms, the written instructions that Monmouthshire Building Society give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Monmouthshire Building Society may subsequently adopt.
- Failure to reapply to remain on the Monmouthshire Building Society convincing panel
Monmouthshire Building Society Conveyancing Panel Reinstatement: Common Questions
- How often will this firm be required to re-apply to be reinstated on the Monmouthshire Building Society conveyancing panel?
- Do any avenues remain open if my firm’s reinstatement panel application with Monmouthshire Building Society is turned down?
- What are the consequences if our Monmouthshire Building Society panel reinstatement application is rejected and the client of the firm has a mortgage offer with the Monmouthshire Building Society?
- Can we appeal if this practice’s application for reinstatement was turned down?
- What times frames are involved when applying to be reinstated onto the Monmouthshire Building Society conveyancing panel?
Top Tip: The best way to avoid the hassle of seeking Monmouthshire Building Society panel reinstatement is to ensure that your firm is not removed off of the Monmouthshire Building Society 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 Monmouthshire Building Society conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Monmouthshire Building Society 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 Monmouthshire Building Society conveyancing panel.