Removal from the Scottish Building Society and other lender panels: Why they do it and how to get reinstated
- Your firm fails to meet the criteria to remain on the Scottish Building Society conveyancing panel
- Persistent non-compliance with post completion requirements set by Scottish Building Society
- Persistent delays in registering security 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.
- Failure to act in accordance with the Scottish Building Society panel requirements, the written instructions that Scottish Building Society give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Scottish Building Society may subsequently subscribe.
- Failure to reapply to be on the Scottish Building Society convincing panel
Scottish Building Society panel reinstatement: Five Common Questions
- Does the COLP in my firm need to complete the reinstatement application to the Scottish Building Society panel ?
- Please can you set out the application process to revert back onto the Scottish Building Society conveyancing panel?
- Am I restricted as to the number of times my practice can apply to get back on the Scottish Building Society conveyancing panel?
- How often will this firm be required to re-apply to remain on the Scottish Building Society conveyancing panel?
- Are you able to explain why our application for reinstatement was 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.