Removal from the Reliance Bank and other lender panels: Why they do it and how to get reinstated
- Significant non-compliance with post completion requirements on behalf of Reliance Bank
- Breaches of Reliance Bank conveyancing panel requirements
- Reliance Bank 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 delays in registering security 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 act in accordance 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 subscribe.
Reliance Bank panel reinstatement: Five Common Questions
- Is it the practice manager who is required to sign the reinstatement application to the Reliance Bank panel ?
- Am I restricted as to the number of times my practice can submit applications to get back on the Reliance Bank conveyancing panel?
- What are the consequences if our Reliance Bank panel reinstatement application is declined and the client of the firm has a mortgage application with the Reliance Bank?
- Is it possible to find out this practice’s application for reinstatement was turned down?
- What times frames are involved when applying to revert back onto the Reliance Bank conveyancing panel?
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.