Removal from the Virgin and other lender panels: Why they do it and how to get reinstated
- Recurring 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.
- 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.
- Breaches of Virgin conveyancing panel Terms and Conditions
- Failure to act in accordance 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.
- Your firm fails to meet the criteria to remain on the Virgin conveyancing panel
Virgin panel reinstatement : You have questions, we have answers
- Does the COLP in my firm need to sign the reinstatement application to the Virgin panel ?
- How long does the application process take when applying to be reinstated onto the Virgin conveyancing panel?
- Is it possible to find out this practice’s application for reinstatement is declined?
- How often will this firm be required to re-apply to remain on the Virgin conveyancing panel?
- What will happen if our Virgin panel reinstatement application is refused and our client has a mortgage application with the Virgin?
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.