Removal from the New Street Mortgages and other lender panels: Why they do it and how to get reinstated
- Failure to act in accordance with the New Street Mortgages panel terms, the written instructions that New Street Mortgages provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which New Street Mortgages may subsequently adopt.
- Recurring delays in registering security on behalf of New Street Mortgages Delays or failure to register the New Street Mortgages charge may result in referral to external lawyers of New Street Mortgages to complete outstanding requirements.
- Missing deadline to reapply to remain on the New Street Mortgages convincing panel
- New Street Mortgages 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.
- Persistent non-compliance with post completion requirements set by New Street Mortgages
New Street Mortgages panel reinstatement : questions that we get asked
- What happens if our New Street Mortgages panel reinstatement application is refused and our client has a mortgage application with the New Street Mortgages?
- How do I discover why our application for reinstatement is refused?
- How often will this firm be required to re-apply to be reinstated on the New Street Mortgages conveyancing panel?
- Do any avenues remain open if our reinstatement panel submission with New Street Mortgages is rejected?
- Please can you set out the application process to be reinstated onto the New Street Mortgages conveyancing panel?
Top Tip: The best way to avoid the hassle of seeking New Street Mortgages panel reinstatement is to ensure that your firm is not removed off of the New Street Mortgages 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 New Street Mortgages conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to New Street Mortgages 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 New Street Mortgages conveyancing panel.