Find an Approved Solicitor on the Vida Homeloans
Vida Homeloans Conveyancing Panel : Questions and Answers
I am progressing with the sale of my flat and the estate agent has just e-mailed to warn that the buyers are switching property lawyer. I am told that this is due to the fact that Vida Homeloans will only work with property lawyers on their conveyancing panel. On what basis would a major lender only work with certain law firms?
UK lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks point to the increase in fraud by way of justification for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.
We are only a couple days away from an exchange and my parents having sent 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 Vida Homeloans. I am advised that, being on the Vida Homeloans conveyancing panel and acting on their behalf he must inform Vida Homeloans if the balance of the mortgage advance is not just from me. I advised the bank about my parent’s contribution when I applied for the home loan so is it really necessary for this now to be an issue?
Your lawyer is obliged to check with Vida Homeloans 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 Vida Homeloans if you agree, failing which, your lawyer must cease to continue acting.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Vida Homeloans conveyancing panel. My lawyer has said that they are on the Vida Homeloans approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Vida Homeloans conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Vida Homeloans solicitor panel.
We're in Wales, First time buyers purchasing with a mortgage (lender is Vida Homeloans , but our lawyer is on the Vida Homeloans conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Vida Homeloans conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
I am selling my flat. I had a double glazing fitted in month 6 but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Vida Homeloans are being pedantic. The solicitor who is on the Vida Homeloans conveyancing panel is recommending indemnity insurance as a solution but Vida Homeloans are requiring a building regulation certificate. Why do Vida Homeloans have a conveyancing panel of they don’t accept advice from them?
It is probably the case that Vida Homeloans have referred the matter to their valuer. The reason why Vida Homeloans may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing correctly and safely installed. It merely protects against enforcement action which is very unlikely anyway.
My ex -wife’s name is on the Vida Homeloans mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Vida Homeloans mortgage in order to sell?
In terms of the Vida Homeloans mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Vida Homeloans in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.
We are are remortgaging a house in Hendon. Conveyancing solicitors in Hendon are preferred to begiven the go-ahead. My friendadvised that we make sure that the property lawyer in Hendon is on the Vida Homeloans approved list of lawyers. Surely I don't need to do this, do I?
A limited percentage of Hendon conveyancing solicitors are on the Vida Homeloans conveyancing panel. Use the above search tool to find a Hendon conveyancing lawyer
on the on the Vida Homeloans solicitors pane.