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Ready to buy a new home? Failing to check that a lawyer is on the Virgin list of approved solicitors can put your transaction at risk of delay or failure.
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My lawyer has never been on on the Virgin Conveyancing Panel. Is it possible for me to use my preferred solicitor notwithstanding that they are excluded from the Virgin approved list?
The most common options here are as follows:
- Carry on with your preferred solicitors but Virgin will need to instruct a lawyer on the Virgin conveyancing panel. This will result in additional cost and potential delay.
- Get a new solicitor to act in the purchase, obviously checking they are on the Virgin conveyancing panel.
- Urge your lawyer to apply to join the Virgin lender panel
can you help? My conveyancer is assuring me that he is legally obliged to apply for a Local Authority search stemming from the fact that the firm are on the Virgin conveyancing panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with Virgin your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Virgin’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Virgin. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
Do all the licensed conveyancers and solicitor practices listed on your search have online case tracking as I understood that this was a condition of being on the Virgin conveyancing panel?
No. There is no CML Part 2 or Building Society Association requirement relating to online case tracking. Some law firms operate such technology and some don't.
I am selling my house. Does my solicitor have to be on the Virgin conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Virgin conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to move forward? I hope to get a mortgage with Virgin. Is it possible to avoid using solicitors to save on the costs? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Virgin involved you will need to appoint a solicitor on the Virgin conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Virgin. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Virgin conveyancing panel.
I have a mortgage with Virgin. Conveyancing was finalised 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Virgin?
You must advise Virgin before renting your property as this is likely to be a breach of Virgin’s mortgage conditions. It may be that Virgin will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin directly. It should not be necessary to do this via a Virgin conveyancing panel solicitor.
Completion of my purchase has taken place with a loan from Virgin. Conveyancing was satisfactory but I would like to complain about Virgin. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the Virgin branches or the Customer Services Department at Virgin head office. We understand that complaints to Virgin are sorted out effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service who will take matters further.
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Transfer of Equity for VirginPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors