Removal from the Progressive BS and other lender panels: Why they do it and how to get reinstated
- Failure to act in accordance 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.
- Breaches of Progressive BS conveyancing panel requirements
- Progressive BS 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.
- Significant delays in post completion requirements set by Progressive BS
- Your practice no longer meets the criteria to remain on the Progressive BS conveyancing panel
Frequently asked questions concerning Progressive BS panel reinstatement
- How often will this firm be required to re-apply to remain on the Progressive BS conveyancing panel?
- Is it possible to find out my firm’s application for reinstatement is turned down?
- Can this firm act for Progressive BS while the application for reinstatement on the Progressive BS panel is being processed? How do I discover if our reinstatement appeal to the Progressive BS panel is accepted?
- What are the consequences if our Progressive BS panel reinstatement application is declined and the client of the firm has a mortgage application with the Progressive BS?
- Am I restricted as to the number of occasions my firm can submit applications to be reinstated on the Progressive BS conveyancing panel?
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.