Removal from the Scottish Building Society and other lender panels: Why they do it and how to get reinstated
- 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.
- Failure to reapply to be on the Scottish Building Society convincing panel
- Non-compliance with the Scottish Building Society panel requirements, 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 subscribe.
- Recurring 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.
- Your firm fails to meet the criteria to remain on the Scottish Building Society conveyancing panel
How can we assist? Scottish Building Society panel reinstatement questions
- Is there a charge to revert back onto the Scottish Building Society conveyancing panel?
- How often will this firm be required to re-apply to be reinstated on the Scottish Building Society conveyancing panel?
- Can we act for Scottish Building Society while the application for reinstatement on the Scottish Building Society panel is being reviewed? How do I discover if our reinstatement application to the Scottish Building Society panel is approved?
- To what extent is my firm permanently excluded if my firm’s reinstatement panel submission with Scottish Building Society is refused?
- Am I restricted as to the number of times my practice can apply to be reinstated on the Scottish Building Society conveyancing panel?
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.