Removal from the Virgin and other lender panels: Why they do it and how to get reinstated
- Breaches of Virgin conveyancing panel Terms and Conditions
- Recurring 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.
- Persistent non-compliance with post completion requirements on behalf of Virgin
- Your firm fails to meet the criteria to remain on the Virgin conveyancing 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.
Answers to Frequently asked questions concerning Virgin panel reinstatement
- Can we act for Virgin while the application for reinstatement on the Virgin panel is being processed? How do I know if our reinstatement application to the Virgin panel is accepted?
- Does the COLP in my firm need to sign the reinstatement application to the Virgin panel ?
- Is there a limit to the amount of occasions my firm can submit applications to be reinstated on the Virgin conveyancing panel?
- What are the consequences if our Virgin panel reinstatement application is declined and our client has a mortgage application with the Virgin?
- What times frames are involved when applying to revert back onto 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.