Virgin Conveyancing Panel Information

The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Virgin and to assist in remaining on the Virgin Conveyancing Panel.

Virgin Solicitor Panel: Recently Asked Questions

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Virgin wants me to represent them alone on a residential conveyancing transaction , using the CML Lender’s Handbook. The borrower has his own solicitor (not on the Virgin conveyancing panel) How does this work and are there different instructions from Virgin in this circumstance?
The Council of Mortgage Lenders, together with Virgin and other stakeholders created a standard set of instructions where a conveyancer is representing a lender such as Virgin alone in a residential conveyancing transaction. These requirements are contained at Part Three of the UK Finance Lenders’ Handbook and are to be followed in conjunction with Parts 1 & 2. The CML have published an example requirements letter to the borrower’s conveyancing solicitor for adaptation by the lender's conveyancer, and sets out to the borrower's conveyancer, the documentary and information requirements of the lender's panel solicitor.
Is there a standard appeals process to prevent solicitors from being unfairly removed them from lender conveyancing panels?
There are thousands of firms across the UK who feel aggrieved claiming that they have been removed from lenders’ panels without an explanation or a good reason. It is highly unlikely, given that lenders have distanced themselves from creating a standardised appeals process for brokers, that an appeals process will be introduced for lawyers. Commenting on the call by brokers to have a standardised process the CML said’ “While we understand that some lenders do have an appeals process, it would not be appropriate for a trade body such as the CML to seek to be prescriptive about such a process.” Some lenders do of course set out an appeals policy. The Law Society does have information on it’s site that may be of assistance. If you would like to talk to one of our compliance experts about our Lender Panel Protection Service please click here.
A long standing client of my firm is buying a property for £825k in Leeds requiring a mortgage advance over GBP 410k. I am on the Virgin conveyancing panel but do Virgin have a separate approved panel when the advance is above 400,000?
Lexsure only know of a couple of banks that operate a distinct approved solicitors panel where the mortgage advance is over a certain threshold. You should nevertheless check directly with Virgin. At one stage HSBC would only allow Sole practitioners to act for them where the mortgage was below £150,000. We are not sure if HSBC still operate such a condition. In your case it is best to check with Virgin
I noticed the following question on my PI renewal form this year ‘Has your Firm been asked by a lender to agree to more onerous terms and conditions than provided for in the UK Finance Lenders’ Handbook?’ My firm is on a number of approved panels including the Virgin conveyancing panel. We have Terms and Conditions of appointment which we are duty bound to comply with. Do I disclose these these Terms ?
The concern here is if you are expect to enter into ‘more onerous’ conditions that than the Handbook obligations. You have to try and take an objective view as to whether the Terms relating to the Virgin conveyancing appointment (or other terms for other lenders) are ‘more onerous’ than the UK Finance Lenders’ Handbook Conditions. Depending on the Terms you may need to provide details on your renewal form. If you are in any doubt please call your broker to discuss before completing the answer.
We had our Virgin panel membership terminated but we have not yet been given an explanation yet. I am completing a CQS renewal questionnaire what details should I report?
In this situation please explain on the form what action you have taken to discover 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 termination of your panel membership did you receive any letters or calls from the lender informing you as to why they reached this decision?
I am on the Virgin conveyancing panel and due to complete a remortgage shortly. I dont have a Mortgage Deed for the client to sign. Who do I contact at Virgin to request substitute deeds?
You need to get in touch with Virgin to obtain standard documents. The CML Handbook has an express inquiry for banks to reveal who to contact to obtain standard documents. Virgin in their Part 2’s state:
You will need to disclose your Virgin solicitors panel reference.

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Average number of days to register title including a charge in favour of Virgin
This information relates to purchase only and not remortgages.
YearDays*
2024 [no data]
2023 57.2
2022 [no data]
2021 [no data]
2020 [no data]
2019 37.1
* Data aggregated from sources including COMPLETIONmonitor