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.
- Non-compliance with the Suffolk Building Society panel requirements, the written instructions that Suffolk Building Society give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Suffolk Building Society may subsequently subscribe.
- Breaches of Suffolk Building Society conveyancing panel requirements
- Recurring non-compliance with post completion requirements set by Suffolk Building Society
- 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.
Frequently asked questions concerning Suffolk Building Society panel reinstatement
- What are the consequences if our Suffolk Building Society panel reinstatement application is refused and the client of the firm has a mortgage offer with the Suffolk Building Society?
- Please can you set out the application protocol to revert back onto the Suffolk Building Society conveyancing panel?
- Do any avenues remain open if our reinstatement panel submission with Suffolk Building Society is turned down?
- Does my practice need to apply annually to be reinstated on the Suffolk Building Society conveyancing panel?
- Is it the practice manager who is required to sign the reinstatement application to the Suffolk Building Society 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 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 Suffolk Building Society conveyancing panel.