Virgin Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for residential conveyancing lawyers. Supported by the CML and PI insurers. COMPLETIONmonitor is a unique risk management tool.

This software assists the way you can prove to lender panels that you are, and can remain fully compliant with their instructions, with automatic updates on Virgin’s changes. Even though using the software is not a condition for acceptance on the Virgin panel, demonstrating you can stay up to date with Virgin’s Handbook requirements is an excellent support to your panel application and, just as importantly, safeguard your firm’s panel status.

The system generates real-time alerts, automatically produces compliance and CQS reports, and will improve 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

Banks and building societies 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 1003 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 2.7 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,

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Virgin Solicitor Panel Recently Asked Questions from members of the public

My husband and I are first time buyers. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Virgin have this afternoon contacted us to advise us that there is now an issue as our solicitor is not on their conveyancing panel. Is this a problem?
If you are buying a property with the assistance of a mortgage it is usual for the purchaser's solicitors to also act for the purchaser's lender.

In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyers should contact Virgin and see if they can apply for membership of the Virgin conveyancing panel, but if that is not viable Virgin will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the Virgin conveyancing panel as you are at liberty to use your preferred lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.

I am purchasing a new build duplex and my solicitor is telling me that she is duty bound to reveal incentives from the seller as her firm is on the Virgin conveyancing panel. I am under pressure to exchange and I have no desire to prolong deal. Can I insist on an exchange regardless of what my lawyer says about being on the Virgin panel?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Virgin approved panel is to comply with the CML Handbook requirements (last updated for this lender on Virgin). The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I require the services of a Virgin panel solicitor in Belfast. Can you assist?
It is not clear why you need a Virgin panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Virgin to find out which solicitors in Virgin are on their panel. If you do find such a firm not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site
The firm that I appointed last week on my purchase in Manchester has without warning shut down. They were on acting for me because I needed a firm on the Virgin conveyancing panel and my preferred lawyer was not. I gave my credit card details for them to take £175 for searches. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Virgin conveyancing panel and notify the lender. If you have paid over any money it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help
Is there a list of Virgin panel conveyancers on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings available online.
It is not clear whether my mortgage offer requires a lease extension . I have called Virgin on various occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Virgin conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. I simply dont know who is right
Your lawyer has to follow the CML Handbook Part 2 requirements for Virgin. Unless your lawyer obtains specific confirmation in writing that Virgin will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Virgin to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
Planning on purchasing a house with a mortgage with Virgin. I have received an online quote from a licensed conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that they are on the Virgin conveyancing panel