Removal from the Reliance Bank and other lender panels: Why they do it and how to get reinstated
- Reliance Bank 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.
- Non-compliance with the Reliance Bank panel requirements, the written instructions that Reliance Bank give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Reliance Bank may subsequently adopt.
- Persistent delays in registering a charge on behalf of Reliance Bank Delays or failure to register the Reliance Bank charge may result in referral to external lawyers of Reliance Bank to complete outstanding requirements.
- Failure to reapply to remain on the Reliance Bank convincing panel
- Significant non-compliance with post completion requirements on behalf of Reliance Bank
Top questions concerning Reliance Bank panel reinstatement
- Are you able to explain why this practice’s application for reinstatement was declined?
- Is there a charge to revert back onto the Reliance Bank conveyancing panel?
- Please can you set out the application protocol to revert back onto the Reliance Bank conveyancing panel?
- Does my practice need to apply annually to be reinstated on the Reliance Bank conveyancing panel?
- What will happen if our Reliance Bank panel reinstatement application is refused and the client of the firm has a mortgage application with the Reliance Bank?
Top Tip: The best way to avoid the hassle of seeking Reliance Bank panel reinstatement is to ensure that your firm is not removed off of the Reliance Bank 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 Reliance Bank conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Reliance Bank 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 Reliance Bank conveyancing panel.