Removal from the Penrith Building Society and other lender panels: Why they do it and how to get reinstated
- Recurring delays in registering security on behalf of Penrith Building Society Delays or failure to register the Penrith Building Society charge may result in referral to external lawyers of Penrith Building Society to complete outstanding requirements.
- Non-compliance with the Penrith Building Society panel requirements, the written instructions that Penrith Building Society give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Penrith Building Society may subsequently adopt.
- Your practice no longer meets the criteria to remain on the Penrith Building Society conveyancing panel
- Penrith 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.
- Failure to reapply to remain on the Penrith Building Society convincing panel
Penrith Building Society panel reinstatement: Five Common Questions
- Is there a limit to the number of occasions my law firm can submit applications to be reinstated on the Penrith Building Society conveyancing panel?
- Does my practice need to apply annually to be reinstated on the Penrith Building Society conveyancing panel?
- Does the COLP in my firm need to complete the reinstatement application to the Penrith Building Society panel ?
- What are the consequences if our Penrith Building Society panel reinstatement application is refused and the client of the firm has a mortgage application with the Penrith Building Society?
- How long does the application process take when applying to be reinstated onto the Penrith Building Society conveyancing panel?
Top Tip: The best way to avoid the hassle of seeking Penrith Building Society panel reinstatement is to ensure that your firm is not removed off of the Penrith 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 Penrith Building Society conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Penrith 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 Penrith Building Society conveyancing panel.