Removal from the Scottish Building Society and other lender panels: Why they do it and how to get reinstated
- Missing deadline to reapply to remain on the Scottish Building Society convincing panel
- Failure to act in accordance 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.
- Breaches of Scottish Building Society conveyancing panel requirements
- 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 firm fails to meet the criteria to remain on the Scottish Building Society conveyancing panel
Scottish Building Society panel reinstatement: Five Common Questions
- How often will this firm be required to re-apply to be reinstated on the Scottish Building Society conveyancing panel?
- What happens if our Scottish Building Society panel reinstatement application is refused and our client has a mortgage application with the Scottish Building Society?
- Is there a charge to revert back onto the Scottish Building Society conveyancing panel?
- Are you able to explain why our application for reinstatement is declined?
- Can we act for Scottish Building Society while the application for reinstatement on the Scottish Building Society panel is being assessed? How do I discover if our reinstatement appeal 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.