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.
- Your law firm fails to meet the criteria to remain on the Virgin conveyancing panel
- Missing deadline to reapply to be on the Virgin convincing panel
- Persistent delays in post completion requirements set by Virgin
- 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
- Does the COLP in my firm need to complete the reinstatement application to the Virgin panel ?
- Can we act for Virgin while the application 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 is the application procedures to revert back onto the Virgin conveyancing panel?
- Is there a charge to revert back onto the Virgin conveyancing panel?
- Do any avenues remain open if my firm’s reinstatement panel application with Virgin is declined?
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 preferred 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.