Removal from the Newbury Building Society and other lender panels: Why they do it and how to get reinstated
- Newbury Building Society 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.
- Failure to act in accordance with the Newbury Building Society panel requirements, the written instructions that Newbury Building Society provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Newbury Building Society may subsequently subscribe.
- Significant delays in post completion requirements on behalf of Newbury Building Society
- Missing deadline to reapply to be on the Newbury Building Society convincing panel
- Your law firm no longer meets the criteria to remain on the Newbury Building Society conveyancing panel
Newbury Building Society panel reinstatement: Five Common Questions
- Does my practice need to apply annually to remain on the Newbury Building Society conveyancing panel?
- What will happen if our Newbury Building Society panel reinstatement application is rejected and the client of the firm has a mortgage offer with the Newbury Building Society?
- Is there a limit to the number of times my firm can submit applications to get back on the Newbury Building Society conveyancing panel?
- Can we act for Newbury Building Society while the application for reinstatement on the Newbury Building Society panel is being processed? How do I find out if our reinstatement application to the Newbury Building Society panel is accepted?
- What times frames are involved when applying to be reinstated onto the Newbury Building Society conveyancing panel?
Top Tip: The best way to avoid the hassle of seeking Newbury Building Society panel reinstatement is to ensure that your firm is not removed off of the Newbury 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 Newbury Building Society conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Newbury Building Society 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 Newbury Building Society conveyancing panel.