Removal from the Virgin and other lender panels: Why they do it and how to get reinstated
- Non-compliance with the Virgin panel requirements, the written instructions that Virgin provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Virgin may subsequently adopt.
- Failure to reapply to remain on the Virgin convincing panel
- Virgin may terminate membership of its conveyancing panel where a firm provides false answers in its application form or in relation to any future requests for information.
- Recurring non-compliance with post completion requirements on behalf of Virgin
- Breaches of Virgin conveyancing panel Terms and Conditions
Questions Virgin panel reinstatement firms ask us
- Am I restricted as to the number of occasions my law firm can apply to be reinstated on the Virgin conveyancing panel?
- Who should sign the reinstatement application to the Virgin panel ?
- How long does the application process take when applying to revert back onto the Virgin conveyancing panel?
- Is there a charge to revert back onto the Virgin conveyancing panel?
- What happens if our Virgin panel reinstatement application is refused and the client of the firm has a mortgage offer with the Virgin?
Top Tip: The best way to avoid the hassle of seeking Virgin panel reinstatement is to ensure that your firm is not removed off of the Virgin 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 Virgin conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to Virgin 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 Virgin conveyancing panel.