Bold Legal Group find “Lenders aren’t all bad”

Rob Hailstone writes “Have you ever found your firm taken off of a lender’s panel through no fault of your own? If you have, fear not, the situation can sometimes be resolved very quickly.”

Rob Hailstone, founder of the Bold Legal Group recently received the email below from BLG members PCS Legal, a firm of Licensed conveyancers in Basildon, Essex.

“I wonder if you could help us.  We have been removed from Santander’s panel because the completion of a new build registration has been delayed.  The Land Registry need to undertake a survey of the property and this has delayed matters because it has taken nearly two months for the Land Registry to carry out the survey.  Our OS1 searches have been kept up to date and everything else is in order.  However, because of the delay, Santander have had to remove us from their panel. This could have a huge impact on our firm and any comments or advice you could provide would be very much appreciated.”

Rob made contact with Santander who immediately put the wheels in motion to see if the situation could be rectified. Two weeks later he received the following email from PCS Legal.

“Just to let you know that we are now back on Santander’s panel which is a huge relief. Thank you for your help, very much appreciated.”

A spokesperson from Santander commented, “It is not our policy to remove firms from our panel for no good reason. This situation was unfortunate and at first glance it appeared that our security might be at risk. However, when presented in the right way with all of the relevant facts it became clear that PCS Legal had done everything in their power to protect the interests of Santander and their client. In these circumstances, putting PCS legal back on our panel as quickly as possible was the right thing to do."

Kate Forsdike from PCS Legal said, “We have always valued and appreciated our BLG membership and the help, updates and assistance Rob provides, but resolving an issue as important as this and quickly has put the icing on the cake.”

When asked about this outcome Rob said: “I can’t promise to get a result like this for every member firm that has a lender problem as each set of circumstances is different. However, I do try. Only today I have received requests for help with First Direct and the Leek United Building Society.

As a result of all these enquiries I am currently endeavouring to compile a directory of basic panel requirements for all of the major lenders. What point is there for a sole practitioner a two partner firm or a non CQS firm etc applying for a panel position if they can’t jump the first hurdle? It seems inevitable that the panel situation is going to get worse as time goes on. Something needs to be done.”

You can contact Rob Hailstone about BLG membership by contacting him via rh@boldlegal.co.uk