Removal from the Virgin and other lender panels: Why they do it and how to get reinstated
- Persistent 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.
- Persistent delays in post completion requirements on behalf of Virgin
- Non-compliance with the Virgin panel terms, the written instructions that Virgin provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Virgin may subsequently subscribe.
- Failure to reapply to be on the Virgin convincing panel
- Your firm no longer meets the criteria to remain on the Virgin conveyancing panel
Common questions about Virgin conveyancing panel reinstatement
- Can this firm act for Virgin while the appeal for reinstatement on the Virgin panel is being assessed? How do I find out if our reinstatement application to the Virgin panel is approved?
- What times frames are involved when applying to be reinstated onto the Virgin conveyancing panel?
- What will happen if our Virgin panel reinstatement application is refused and the client of the firm has a mortgage application with the Virgin?
- Does my practice need to apply annually to be reinstated on the Virgin conveyancing panel?
- What is the application process 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.