Removal from the Suffolk Building Society and other lender panels: Why they do it and how to get reinstated
- Suffolk 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.
- Persistent delays in registering a charge on behalf of Suffolk Building Society Delays or failure to register the Suffolk Building Society charge may result in referral to external lawyers of Suffolk Building Society to complete outstanding requirements.
- Your practice no longer meets the criteria to remain on the Suffolk Building Society conveyancing panel
- Missing deadline to reapply to be on the Suffolk Building Society convincing panel
- Failure to act in accordance with the Suffolk Building Society panel terms, the written instructions that Suffolk Building Society provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Suffolk Building Society may subsequently adopt.
Suffolk Building Society panel reinstatement : You have questions, we have answers
- What are the consequences if our Suffolk Building Society panel reinstatement application is declined and the client of the firm has a mortgage offer with the Suffolk Building Society?
- To what extent is my firm permanently excluded if my firm’s reinstatement panel application with Suffolk Building Society is refused?
- Are you able to explain why this practice’s application for reinstatement was declined?
- Am I restricted as to the amount of occasions my practice can submit applications to get back on the Suffolk Building Society conveyancing panel?
- How long does the application process take when applying to be reinstated onto the Suffolk Building Society conveyancing panel?
Top Tip: The best way to avoid the hassle of seeking Suffolk Building Society panel reinstatement is to ensure that your firm is not removed off of the Suffolk 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 Suffolk Building Society conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Suffolk 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 Suffolk Building Society conveyancing panel.