Removal from the Virgin and other lender panels: Why they do it and how to get reinstated
- Failure to reapply to be on the Virgin convincing panel
- Your firm fails to meet the criteria to remain on the Virgin conveyancing panel
- Significant delays in registering a charge on behalf of Virgin Delays or failure to register the Virgin charge may result in referral to external lawyers of Virgin to complete outstanding requirements.
- Non-compliance with the Virgin panel terms, the written instructions that Virgin give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Virgin may subsequently subscribe.
- Breaches of Virgin conveyancing panel requirements
How can we assist? Virgin panel reinstatement questions
- Does my practice need to apply annually to remain on the Virgin conveyancing panel?
- Can we act for Virgin while the application for reinstatement on the Virgin panel is being reviewed? How do I discover if our reinstatement application to the Virgin panel is accepted?
- What will happen if our Virgin panel reinstatement application is declined and the client of the firm has a mortgage application with the Virgin?
- Am I restricted as to the number of times my practice can apply to get back on the Virgin conveyancing panel?
- Is the door firmly shut if my firm’s reinstatement panel application with Virgin is rejected?
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.