Virgin Conveyancing Panel Information

No such training is arranged by the CML but they do organise numerous general conveyancing related conferences which are attended by firms on the Virgin conveyancing panel. Lexsure intend to run specific lender focused seminars in the coming months including a webinar on Virgin’s Part 2 obligations. Practitioners on the Virgin conveyancing panel are welcome. Further details will be communicated as part of the LENDERmonitor Alerts.

We are not aware of any intention on the part of the CML to develop such a search facility.

In order to be on the Virgin conveyancing panel solicitors have to complete an application form and agree Terms and Conditions. A sample of 5 conditions that we see amongst many lenders Terms (but not necessarily Virgin) are as follows:

• Without prejudice to your obligation to comply in full with the Safeguards provisions in the CML Lenders’ Handbook, to report to us as soon as possible any suspicion that you have about the genuineness of any transaction in any respect.
• That any deeds you borrow from us in connection with the personal mortgage of a partner or director at your firm must be requested by a partner or director other than the partner or director concerned and the transaction must be handled by that other partner or director. If you are a sole practitioner and require the loan of deeds in connection with your own mortgage, you must nominate a different firm on our panel to request the deeds and handle the transaction.
• You have the consent of all borrowers to apply for the deeds, before making any request for deeds. We will accept your request for deeds on the understanding that you have obtained such consent. If this is not the case then you should advise our Deeds Services Department in writing when you make your request
• To keep us informed of the reasons for any delay in your being able to send the title deeds and documents we require to us within 3 months of completion or evidence of proof of registration within that period. (We will send reminders if the deeds have not been received but will not acknowledge receipt of deeds.)
• To be responsible for the reconstitution of the title deeds (whether the title is registered or unregistered, at your own cost), where any deeds in your possession, or were last known to be in your possession, go missing.

The majority of lenders do not operate a specific buy to let conveyancing panel but we are hearing about a few that do. We do not know what the position is with Virgin as at todays date. If you're about to receive instructions from a client on a buy to let purchase with a mortgage from Virgin we suggest that you call Virgin to check the position.

In the circumstances please clarify on the application what action you have taken to find out the reasons behind cancellation of your Virgin panel status. In particular please provide details if you have received communications from the lender. E.G. before revocation of your panel membership did you receive any letters or calls from the lender putting you on notice?

You should communicate with Virgin to obtain standard documents. The CML Handbook has an individual inquiry for lenders to enumerate who to contact to obtain standard documents. Virgin in their Part 2’s state: Please remember to quote the firm’s Virgin conveyancing panel reference.