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 provides false answers in its application form or in relation to any future requests for information.
- Breaches of Virgin conveyancing panel Terms and Conditions
- Your firm no longer meets the criteria to remain on the Virgin conveyancing panel
- 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 adopt.
- Significant delays in post completion requirements set by Virgin
Common questions about Virgin conveyancing panel reinstatement
- Are you able to explain why my firm’s application for reinstatement was declined?
- How often will this firm be required to re-apply to remain on the Virgin conveyancing panel?
- What are the consequences if our Virgin panel reinstatement application is turned down and the client of the firm has a mortgage application with the Virgin?
- Do any avenues remain open if my firm’s reinstatement panel submission with Virgin is declined?
- 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.