Removal from the Scottish Building Society and other lender panels: Why they do it and how to get reinstated
- 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.
- Persistent 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 practice no longer meets the criteria to remain on the Scottish Building Society conveyancing panel
- Persistent delays in post completion requirements on behalf of Scottish Building Society
- 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.
Scottish Building Society panel reinstatement : questions that we get asked
- Does my practice need to apply annually to be reinstated on the Scottish Building Society conveyancing panel?
- What times frames are involved when applying to revert back onto the Scottish Building Society conveyancing panel?
- What will happen if our Scottish Building Society panel reinstatement application is rejected and the client of the firm has a mortgage application with the Scottish Building Society?
- Am I restricted as to the number of occasions my firm can submit applications to get back on the Scottish Building Society conveyancing panel?
- Can this firm act for Scottish Building Society while the appeal for reinstatement on the Scottish Building Society panel is being progressed? How do I find out if our reinstatement application to the Scottish Building Society panel is approved?
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.