Removal from the New Street Mortgages and other lender panels: Why they do it and how to get reinstated
- Your law firm no longer meets the criteria to remain on the New Street Mortgages conveyancing 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
- Significant delays in registering a charge 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.
- Failure to reapply to remain on the New Street Mortgages convincing panel
Frequently asked questions concerning New Street Mortgages panel reinstatement
- Can you outline the application process to be reinstated onto the New Street Mortgages conveyancing panel?
- Am I restricted as to the amount of occasions my firm can submit applications to get back on the New Street Mortgages conveyancing panel?
- To what extent is my firm permanently excluded if my firm’s reinstatement panel submission with New Street Mortgages is turned down?
- Is there a cost to revert back onto the New Street Mortgages conveyancing panel?
- Can this firm act for New Street Mortgages while the appeal for reinstatement on the New Street Mortgages panel is being reviewed? How do I know if our reinstatement application to the New Street Mortgages panel is accepted?
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.