Removal from the Penrith Building Society and other lender panels: Why they do it and how to get reinstated
- 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.
- Significant non-compliance with post completion requirements set by Penrith Building Society
- Persistent delays in registering a charge 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.
- Breaches of Penrith Building Society conveyancing panel requirements
- Missing deadline to reapply to be on the Penrith Building Society convincing panel
Penrith Building Society panel reinstatement: Five Common Questions
- What is the application procedures to be reinstated onto the Penrith Building Society conveyancing panel?
- Is it the practice manager who is required to complete the reinstatement application to the Penrith Building Society panel ?
- To what extent is my firm permanently excluded if our reinstatement panel submission with Penrith Building Society is rejected?
- What will happen if our Penrith Building Society panel reinstatement application is refused and the client of the firm has a mortgage offer with the Penrith Building Society?
- What times frames are involved when applying to revert back 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.