Removal from the Virgin and other lender panels: Why they do it and how to get reinstated
- Significant delays in registering security 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.
- Your practice no longer meets the criteria to remain on the Virgin conveyancing panel
- 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.
- 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 adopt.
FAQs : Virgin Conveyancing panel reinstatement
- Am I restricted as to the amount of times my practice can apply to get back on the Virgin conveyancing panel?
- What is the application process to revert back onto the Virgin conveyancing panel?
- What are our options if our reinstatement panel application with Virgin is refused?
- What are the next steps open to me if our Virgin panel reinstatement application is turned down and the client of the firm has a mortgage offer with the Virgin?
- Does my practice need to apply annually to be reinstated on the Virgin conveyancing panel?
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.