Removal from the Progressive BS and other lender panels: Why they do it and how to get reinstated
- Non-compliance with the Progressive BS panel terms, the written instructions that Progressive BS give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Progressive BS may subsequently adopt.
- Significant delays in registering security on behalf of Progressive BS Delays or failure to register the Progressive BS charge may result in referral to external lawyers of Progressive BS to complete outstanding requirements.
- Breaches of Progressive BS conveyancing panel requirements
- Your practice no longer meets the criteria to remain on the Progressive BS conveyancing panel
- Missing deadline to reapply to be on the Progressive BS convincing panel
Progressive BS panel reinstatement : You have questions, we have answers
- Is there a charge to be reinstated onto the Progressive BS conveyancing panel?
- Do any avenues remain open if our reinstatement panel submission with Progressive BS is refused?
- Can we act for Progressive BS while the application for reinstatement on the Progressive BS panel is being progressed? How do I find out if our reinstatement appeal to the Progressive BS panel is approved?
- Does the COLP in my firm need to sign the reinstatement application to the Progressive BS panel ?
- What will happen if our Progressive BS panel reinstatement application is declined and the client of the firm has a mortgage offer with the Progressive BS?
Top Tip: The best way to avoid the hassle of seeking Progressive BS panel reinstatement is to ensure that your firm is not removed off of the Progressive BS 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 Progressive BS conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Progressive BS 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 Progressive BS conveyancing panel.