Removal from the New Street Mortgages and other lender panels: Why they do it and how to get reinstated
- Breaches of New Street Mortgages conveyancing panel requirements
- 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.
- 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.
- Significant 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.
- Your law firm fails to meet the criteria to remain on the New Street Mortgages conveyancing panel
Top questions concerning New Street Mortgages panel reinstatement
- Do any avenues remain open if our reinstatement panel application with New Street Mortgages is turned down?
- Is it the practice manager who is required to complete the reinstatement application to the New Street Mortgages panel ?
- What are the next steps open to me if our New Street Mortgages panel reinstatement application is turned down and our client has a mortgage application with the New Street Mortgages?
- What is the application process to revert back onto the New Street Mortgages conveyancing panel?
- Can we appeal if this practice’s application for reinstatement was declined?
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 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 New Street Mortgages conveyancing panel.