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 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.
- 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.
- Breaches of Scottish Building Society conveyancing panel Terms and Conditions
- 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.
- Your law firm fails to meet the criteria to remain on the Scottish Building Society conveyancing panel
Scottish Building Society panel reinstatement : You have questions, we have answers
- Am I restricted as to the number of times my law firm can apply to be reinstated on the Scottish Building Society conveyancing panel?
- To what extent is my firm permanently excluded if my firm’s reinstatement panel application with Scottish Building Society is refused?
- Can this firm act for Scottish Building Society while the appeal for reinstatement on the Scottish Building Society panel is being assessed? How do I find out if our reinstatement application to the Scottish Building Society panel is accepted?
- What are the next steps open to me if our Scottish Building Society panel reinstatement application is turned down and our client has a mortgage offer with the Scottish Building Society?
- Does my practice need to apply annually 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 preferred 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.