Removal from the Scottish Building Society and other lender panels: Why they do it and how to get reinstated
- Significant delays in registering a charge on behalf of Scottish Building Society Delays or failure to register the Scottish Building Society charge may result in referral to external lawyers of Scottish Building Society to complete outstanding requirements.
- Non-compliance with the Scottish Building Society panel terms, the written instructions that Scottish Building Society provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Scottish Building Society may subsequently adopt.
- Scottish 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.
- Breaches of Scottish Building Society conveyancing panel requirements
- Persistent delays in post completion requirements set by Scottish Building Society
Answers to Frequently asked questions concerning Scottish Building Society panel reinstatement
- Is there a cost to be reinstated onto the Scottish Building Society conveyancing panel?
- How long does the application process take when applying to be reinstated onto the Scottish Building Society conveyancing panel?
- Are you able to explain why our application for reinstatement was rejected?
- What are the next steps open to me if our Scottish Building Society panel reinstatement application is refused and the client of the firm has a mortgage application with the Scottish Building Society?
- To what extent is my firm permanently excluded if my firm’s reinstatement panel application with Scottish Building Society is declined?
Top Tip: The best way to avoid the hassle of seeking Scottish Building Society panel reinstatement is to ensure that your firm is not removed off of the Scottish 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 Scottish Building Society conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Scottish Building Society 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 Scottish Building Society conveyancing panel.