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Ready to buy a new home? Failing to check that a lawyer is on the VidaHomeloans list of approved solicitors can put your transaction at risk of delay or failure.
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How does my firm apply to be on the Vida Homeloans Conveyancing Panel? How can my firm be reinstated onto the Vida Homeloans Conveyancing Panel?Find an Approved Solicitor on the Vida Homeloans Conveyancing Panel
Vida Homeloans Conveyancing Panel Recently Asked Questions
My husband and I are hoping to buy a 2 bedroom flat in Newcastle with a mortgage from Vida Homeloans. We have a lawyer but Vida Homeloans says he's not on their "panel". We have to appoint one of the Vida Homeloans panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Vida Homeloans conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Vida Homeloans
I am purchasing a newly constructed duplex and my solicitor is telling me that she has to reveal incentives from the builder as her practice is on the Vida Homeloans conveyancing panel. I am under pressure to exchange contracts and I dont want to prolong deal. is my lawyer taking the correct approach?
You should not exchange unless you have advised to do so by your lawyer. A precondition to being on the Vida Homeloans approved panel is to comply with the CML Handbook requirements (last updated for this lender on Vida Homeloans). 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 Vida Homeloans panel solicitor in Stirling. Could you help me?
Unfortunately it’s not apparent why you need a Vida Homeloans panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Vida Homeloans to find out which solicitors in Vida Homeloans 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
My solicitors in Leeds have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with Vida Homeloans. Is it case that being on the Vida Homeloans conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Vida Homeloans Conveyancing Panel Terms. It might be worth you contacting Vida Homeloans directly.
Are all solicitor firms on the Vida Homeloans conveyancing panel regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Vida Homeloans conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
My brother and I have had an offer accepted on a house I spoke to a lawyer previously used by my brother and he advised using a solicitor approved by Vida Homeloans. The estate agent recommended two local firms so I asked Vida Homeloans if the 2 suggested solicitors are approved, which they are not. Vida Homeloans pointed out that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Vida Homeloans 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Ask Vida Homeloans for conveyancing panel firms in your area. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Vida Homeloans conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Vida Homeloans conveyancing panel as it may only take about 2-3 weeks. As long as they meet Vida Homeloans’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
My offer on house has been accepted, but there is a chain. The vendors have offered on somewhere, but not been accepted yet, and have viewings of other properties booked. My conveyancing solicitor has been instructed. What do I do now? When should I get the mortgage app going with Vida Homeloans?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey/valuation, conveyancing search costs, etc). First you should check that your solicitor is on the Vida Homeloans conveyancing panel. As to the next stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a hot mortgage some buyers would pally for the mortgage with Vida Homeloans and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.
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