Removal from the RBS - Virgin One and other lender panels: Why they do it and how to get reinstated
- RBS - Virgin One 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.
- Failure to act in accordance with the RBS - Virgin One panel terms, the written instructions that RBS - Virgin One provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which RBS - Virgin One may subsequently adopt.
- Missing deadline to reapply to be on the RBS - Virgin One convincing panel
- Persistent delays in registering security on behalf of RBS - Virgin One Delays or failure to register the RBS - Virgin One charge may result in referral to external lawyers of RBS - Virgin One to complete outstanding requirements.
- Your firm no longer meets the criteria to remain on the RBS - Virgin One conveyancing panel
RBS - Virgin One panel reinstatement : You have questions, we have answers
- What will happen if our RBS - Virgin One panel reinstatement application is turned down and the client of the firm has a mortgage application with the RBS - Virgin One?
- Can this firm act for RBS - Virgin One while the appeal for reinstatement on the RBS - Virgin One panel is being progressed? How do I discover if our reinstatement appeal to the RBS - Virgin One panel is accepted?
- How do I discover why my firm’s application for reinstatement is refused?
- How often will this firm be required to re-apply to remain on the RBS - Virgin One conveyancing panel?
- To what extent is my firm permanently excluded if our reinstatement panel application with RBS - Virgin One is declined?
Top Tip: The best way to avoid the hassle of seeking RBS - Virgin One panel reinstatement is to ensure that your firm is not removed off of the RBS - Virgin One 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 RBS - Virgin One conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to RBS - Virgin One 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 RBS - Virgin One conveyancing panel.