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

  • Recurring delays in post completion requirements on behalf of Virgin
  • Your law firm no longer meets the criteria to remain on the Virgin conveyancing panel
  • Significant 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.
  • Missing deadline to reapply to remain on the Virgin convincing panel
  • Non-compliance with the Virgin panel requirements, the written instructions that Virgin provide and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which Virgin may subsequently adopt.

Frequently asked questions concerning Virgin panel reinstatement

  • What are the consequences if our Virgin panel reinstatement application is declined and our client has a mortgage offer with the Virgin?
  • Please can you set out the application procedures to revert back onto the Virgin conveyancing panel?
  • How often will this firm be required to re-apply to remain on the Virgin conveyancing panel?
  • Is it the practice manager who is required to complete the reinstatement application to the Virgin panel ?
  • What times frames are involved when applying 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.

Related Pages