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approved by VidaHomeloans
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 Solicitor Panel Example Support Desk Enquires
A lawyer my husband and I wanted to use for conveyancing on a purchase said she would charge more if my lender is due to their unusual legal requirements. Will I regret using Vida Homeloans? Is Vida Homeloans conveyancing so much more difficult?
Vida Homeloans conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the Vida Homeloans conveyancing panel. If they are not, this does add further risk of delay as Vida Homeloans will appoint their own solicitors to look after their interest.
Our lawyer has uncovered a legal deficiency with the lease for the apartment we are purchasing. The other side have suggested title insurance as a solution. We are content with insurance and will pay for it. Our lawyer has advised that as he is on the Vida Homeloans conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or Vida Homeloans?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and Vida Homeloans are the client. 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 Handbook conditions require your lawyer to disclose issues such as defects will the lease so that Vida Homeloans can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I require the services of a Vida Homeloans panel solicitor in Belfast. Could you help me?
It is not clear 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. After all the cost is only one £1 a month
My grandfather passed away 10 months ago and as sole heir and executor was left the house. The house had a small mortgage left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Vida Homeloans , pay off the mortgage etc. Is this allowed?
If you intend to re-mortgage then Vida Homeloans will insist on your using a conveyancer on the Vida Homeloans conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Vida Homeloans conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Vida Homeloans mortgage is registered as a charge at the Land Registry.
Can you point me to a directory of Vida Homeloans panel solicitors 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.
My wife and I have arranged a further advance on our mortgage from Vida Homeloans as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the Vida Homeloans conveyancing panel to deal with the paperwork?
Vida Homeloans do not ordinarily appoint a member of their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the Vida Homeloans panel
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have telephoned Vida Homeloans on numerous occasions and was told they are content with the situation and they would lend. My solicitor - who is on the Vida Homeloans 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 Vida Homeloans. Unless your lawyer obtains specific confirmation in writing that Vida Homeloans 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 Vida Homeloans to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.
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Transfer of Equity for Vida HomeloansPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors