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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.
Looking for information about your firm's panel status?Is my firm on the Virgin Money plc Conveyancing Panel? How does my firm apply to be on the Virgin Money plc Conveyancing Panel? How can my firm be reinstated onto the Virgin Money plc Conveyancing Panel?
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Virgin Solicitor Panel Example Support Desk Enquires
Am I correct in assuming that the fact that my conveyancer is not isted on the Virgin Solicitor panel that there is a problem with the standard of the firm’s conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 3 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Virgin.
I am due to move into my new home next Friday. My conveyancing lawyer has asked me to provide him with a copy of the building insurance for the house as as he informs me that he is duty bound to validate that it is in order for Virgin. What does the insurance need to cover?
Any lawyer on the Virgin conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Virgin’s Part 2 requirements of the CML Handbook (last updated on Virgin). Being on the Virgin conveyancing panel your lawyer is expect to follow these requirements.
Do all the licensed conveyancers and solicitor practices listed on your directory have online case tracking as I understood that this was a condition of being on the Virgin conveyancing panel?
The Council of Mortgage Lenders or BSA do not require online case tracking. Some law firms operate such technology and some don't.
I am attempting to get my ex-husband removed the mortgage deeds. Can Virgin really tell me which solicitor I can or can not retain?
You can use any solicitor you like but Virgin then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Virgin solicitors panel
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to move forward? I plan to obtain a mortgage with Virgin. Is it possible to avoid using solicitors to save on the costs? My dad reckons back in the day he did a lot of it himself, just went into the land registry office and providing them with the info they needed himself
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 was told four weeks ago that my mortgage has been agreed to by Virgin. Is it usual for Virgin to only issue the offer once my solicitor is approved on their conveyancing panel?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Virgin to deal with your lawyers application to be on the Virgin conveyancing panel. There's no guarantee that your solicitors will be accepted.
Me and my partner are purchasing a 1st floor apartment in Hendon. Conveyancing solicitors in Hendon will soon beretained. My agentrecommended that we check that the conveyancer in Hendon is on the Virgin panel. Aren't all lawyers on the Virgin panel?
It is not that case that all Hendon conveyancing firms are on the Virgin conveyancing panel. 8 people a month use our search tool to locate a Hendon conveyancing lawyer on the on the Virgin solicitors pane.