Removal from the Virgin and other lender panels: Why they do it and how to get reinstated

  • Virgin may terminate membership of its conveyancing panel where a firm fails to provide any relevant information or provide incorrect information in its application form or in relation to any future requests for information.
  • Persistent delays in post completion requirements set by Virgin
  • Your law firm no longer meets the criteria to remain on the Virgin conveyancing panel
  • Breaches of Virgin conveyancing panel requirements
  • 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.

Common questions about Virgin conveyancing panel reinstatement

  • Does the COLP in my firm need to complete the reinstatement application to the Virgin panel ?
  • To what extent is my firm permanently excluded if our reinstatement panel application with Virgin is declined?
  • Is there a limit to the amount of times my practice can apply to be reinstated on the Virgin conveyancing panel?
  • What is the application process to revert back onto the Virgin conveyancing panel?
  • Can this firm act for Virgin while the appeal for reinstatement on the Virgin panel is being progressed? How do I discover if our reinstatement application to the Virgin panel is approved?

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.

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