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Virgin Conveyancing Lender Panel Compliance Tool

Looking for information about your firm's panel status?

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How can my firm apply to be on the Virgin Conveyancing Panel?
Check your firm’s panel Status
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How can my firm be reinstated onto the Virgin Conveyancing Panel?
Check your firm’s panel Status

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. It is supported by professional indemnity insurers. It is a unique risk management tool.

This software is the only way you can demonstrate to lender panels that you are, and can stay fully compliant with their instructions, with alerts on Virgin’s changes. Notwithstanding that utilising COMPLETIONmonitor is not a condition for being on the Virgin panel, demonstrating you can stay up to date with Virgin’s Handbook requirements is a helpful support to your panel application and, just as importantly, protect your panel status.

The software generates real-time alerts, automatically produces compliance and CQS reports, and will enhance your firm's efficiency. In addition it is user friendly, cost-effective and, for some firms, leads to a PII saving.

Find a Law Firm approved by Virgin

Lenders often vary their requirements. The UK Finance Lenders’ Handbook requirements from Virgin are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, over time:

A Timeline of Policy Changes


Since 2008, Virgin has made 1166 revisions or additions to sections of their version of the UK Finance Handbook.
That equates to a section change every 2.3 days. In total, 87% of the sections of P2 of the UK Finance Lenders’ Handbook for Virgin have been changed since 15/12/2008.

To find out more about lender panel compliance,
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Virgin Solicitor Panel Sample Enquires to our Call Center from members of the public

Am I correct in assuming that the fact that my solicitor is not on the Virgin Conveyancing panel that there is a problem with the standard of the firm’s work?
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.
We are approaching an exchange and my parents having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Virgin. I am advised that, being on the Virgin conveyancing panel and acting on their behalf he must inform Virgin if the balance of the mortgage advance is coming from anyone other than me. I informed the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Virgin to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Virgin if you agree, failing which, your lawyer must cease to continue acting.
Do all mortgage companies provide you with an approved list of solicitors? How do you know who is on the Virgin conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the Virgin conveyancing panel as opposed to being supplied with a list from Virgin directly.
What happens if my solicitor is expelled from the Virgin Conveyancing panel in advance of the moving date as agreed at exchange of contracts?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
When it comes to lenders such as Virgin do lawyers have to be pay a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I had instructed online conveyancers located in Bristol who are on the Virgin solicitor panel. They are now charging me a separate fee of £150 for dealing with the Virgin mortgage. Is this a supplemental conveyancing fee specified by Virgin?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Virgin but by your lawyers. Some firms on the Virgin will charge an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
Me and my partner are buying a penthouse in Hendon. Conveyancing solicitors in Hendon need to beinstructed. My fathersuggested that we double-check that the conveyancing practitioner in Hendon is on the Virgin approved list of lawyers. Surely I don't need to do this, do I?
Not all Hendon conveyancing practices are on the Virgin conveyancing panel. 7 people a month use our search tool to search for a Hendon conveyancing lawyer on the on the Virgin approved list of lawyers.

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