Removal from the Virgin and other lender panels: Why they do it and how to get reinstated
- 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.
- Failure to reapply to remain on the Virgin convincing panel
- Your law firm no longer meets the criteria to remain on the Virgin conveyancing panel
- Breaches of Virgin conveyancing panel requirements
- Persistent 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.
Virgin panel reinstatement: Five Common Questions
- Is it possible to find out my firm’s application for reinstatement was rejected?
- What is the application process to revert back onto the Virgin conveyancing panel?
- What times frames are involved when applying to be reinstated onto the Virgin conveyancing panel?
- What happens if our Virgin panel reinstatement application is declined and our client has a mortgage application with the Virgin?
- Is there a cost 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 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.