Removal from the RBS - Virgin One and other lender panels: Why they do it and how to get reinstated
- Non-compliance with the RBS - Virgin One panel requirements, the written instructions that RBS - Virgin One give you and the UK Finance Lenders’ Handbook or any alternative set of standard instructions to which RBS - Virgin One may subsequently subscribe.
- Your firm no longer meets the criteria to remain on the RBS - Virgin One conveyancing panel
- RBS - Virgin One 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 RBS - Virgin One conveyancing panel requirements
- Persistent delays in post completion requirements set by RBS - Virgin One
Answers to Frequently asked questions concerning RBS - Virgin One panel reinstatement
- Is there a cost to revert back onto the RBS - Virgin One conveyancing panel?
- Is there a limit to the amount of times my practice can apply to be reinstated on the RBS - Virgin One conveyancing panel?
- How often will this firm be required to re-apply to remain on the RBS - Virgin One conveyancing panel?
- Can this firm act for RBS - Virgin One while the application for reinstatement on the RBS - Virgin One panel is being assessed? How do I discover if our reinstatement appeal to the RBS - Virgin One panel is accepted?
- Does the COLP in my firm need to complete the reinstatement application to the RBS - Virgin One panel ?
Top Tip: The best way to avoid the hassle of seeking RBS - Virgin One panel reinstatement is to ensure that your firm is not removed off of the RBS - Virgin One 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 RBS - Virgin One conveyancing panel but under no circumstances will Lexsure (or the Conveycentric Team) submit an application to RBS - Virgin One 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 RBS - Virgin One conveyancing panel.