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FAQs for the Virgin Conveyancing Panel
The lawyer I had intended to instruct on a purchase said he would charge more if my mortgage is with Virgin due to their unusual legal requirements. Am I likely to be frustrated using Virgin? Any comments will be appreciated
Virgin conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Virgin conveyancing panel. If they are not, this does add further risk of delay as Virgin will appoint their own solicitors to look after their interest.
Our conveyancer has discovered a defect with the lease for the property we are purchasing. The seller’s lawyers have suggested defective title insurance as a solution. We are content with insurance and will pay for it. Our lawyer says that as he is on the Virgin conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or Virgin?
Just because you have a mortgage offer from Virgin does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the CML Handbook Requirements. You and Virgin are the client. These conveyancing instructions have to be complied with by the Virgin conveyancing panel who has to balance acting for you and Virgin
I am searching for online conveyancing estimates. Can I be assured that all the practices that are listed on your directory are on the Virgin conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have assured us via an online form that they are on the Virgin panel and agreed to advise us to take down their listing in the event of removal off of the Virgin panel. To date we have not been informed by either a lender or a member of the public that the data about a specific firm being on the Virgin conveyancing panel is not accurate.
I am selling my house. Does my solicitor have to be on the Virgin conveyancing panel in order to deal with paying off 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.
Is it the case that all solicitor firms on the Virgin conveyancing panel regulated by the SRA?
As a firm of solicitors, in order to be on the Virgin conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I am selling my flat. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Virgin are being problematic. The solicitor who is on the Virgin conveyancing panel is recommending indemnity insurance as a solution but Virgin are requiring a building regulation certificate. Why do Virgin have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Virgin have referred the matter to their valuer. The reason why Virgin may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
My ex -wife’s name is on the Virgin mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Virgin mortgage in order to sell?
In terms of the Virgin mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Virgin in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
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Transfer of Equity for VirginPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors