Virgin Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the CML and PI 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 remain fully compliant with their requirements, with alerts on Virgin’s changes. While using COMPLETIONmonitor is not a condition for acceptance on the Virgin panel, demonstrating you can remain up to date with Virgin’s Handbook requirements is an excellent support to your panel application and, more importantly, safeguard your panel standing.

COMPLETIONmonitor creates real-time alerts, automatically produces regulatory and CQS reports, and will increase your firm's efficiency. It is also simply to use, cost-effective and, for some firms, results in reduced PII premiums.

Find a Law Firm approved by Virgin

Mortgage companies often change 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, frequently:

A Timeline of Policy Changes

Since 2008, Virgin has made 865 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 3.2 days. In total, 85% 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,

Book a Personalised Demo

Recent Changes Include

# Date Assoc. Changes Related To
1.11a 13/02/2019 CML
16.3.2 13/02/2019 CML
16.4.1 13/02/2019 CML
4.3 13/02/2019 CML
5.16.2 13/02/2019 CML
5.1.1 13/02/2019 CML
5.7.1a 13/02/2019 CML Flying Freehold Indemnity Insurance
3.1.3 13/02/2019 CML
10.2a 09/04/2018 CML
6.7.1 01/08/2016 CML

Last update 22/03/2019

Frequently asked questions relating to the Virgin Conveyancing Panel from members of the public

I am expecting a offer of a mortgage from Virgin. I hope to enlist the help of a Licensed Conveyancer. Does the Virgin Solicitor panel allow for Licensed Conveyancers
Virgin’s approved solicitor list is, like many other lenders represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Our conveyancer has identified a problem with the lease for the flat we are buying. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor 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 must be adhered to by the Virgin conveyancing panel who has to balance acting for you and Virgin
I am planning to acquire a property and need a conveyancing solicitor in Leeds who is on the Virgin approved. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Virgin . We don’t recommend any particular firm.
I am considering applying for a Virgin mortgage for purchase of a new build (under development) with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin?
There is nothing to stop you using your solicitor but Virgin will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Is the case that all CQS (Conveyancing Quality Scheme) solicitors on the Virgin conveyancing panel?
It is true that some lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
Two weeks ago we had a mortgage agreed in principle with Virgin. Solicitors have been appointed? How long does it take for Virgin to send the offer to our conveyancer
There is no definitive answer here. Have Virgin completed the survey? Have you advised Virgin as your lawyers details and checked that your lawyer is on the Virgin conveyancing panel? sometimes it can take as long as six weeks for a mortgage offer to be issued
I am buying a property where the roof has a solar panel. Virgin have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Virgin your lawyer must to check the Virgin conveyancing instructions contained in the Part of CML Handbook for Virgin . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to Virgin where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. Requirements for Scotland are due in the near future.