Connecting Nighthawk RAX40 to Virgin Media Hub 1.0 (in modem mode) - No internet

I have a problem making the Netgear RAX40 router work with Virgin Media (VM) Hub 1.0 (in modem mode).

Here is what I've done so far:

- Configured VM to 'modem' only mode. Confirmed that I am access internet by connecting my laptop to the Internet port on the VM modem. This confirms that the VM modem connects to internet.

- Connected up VM Internet port to Netgear RAX40 router Internet Port (yellow) as per instructions

- Connected my laptop to one of the Netgear RAX40 LAN ports and accessed router's Nighthawk GUI successfully. The 'Internet' shows Not Connected

- Attempted to connect to  Netgear RAX40 using Nighthawk android app via WIFI but failed due to 'No internet' available on the NETGEAR73 and NETGEAR73-5G access points

- I followed religiously connect/bootup sequence for both devices multiple times. Tried all the 'shutdown and wait X minutes' suggestions.

- Tried setting  RAX40 Router's Internet Port mac address to the same one I found on the back of VM modem - Did not work - Set it back to Default afterwards.

- At some point (don't know how) I managed to upgrade RAX40 firmware to V1.0.2.46_1.0.1  and even the Internet LED on the RAX40 turned Green at one point (but still there was no internet) - After reboot the LED returned to Orange.

- Performed factory reset of RAX40 at some point.

But still no internet !!!! 

The information on this problem is sketchy and confusing but it appears like some people eventually get it working (I've tried all recommended solutions that I found).

Appreciate any help I can get.