Vida Homeloans Conveyancing Panel : Questions and Answers
from members of the public
My financial adviser has informed me that I have to pay Vida Homeloans fees if I use my own solicitor. How good are the Vida Homeloans conveyancing panel solicitors? I'm happy to use any solicitor in the country TBH provided that they are good and not exorbitantly priced. Would you recommend a specific law firm on the Vida Homeloans panel?
Vida Homeloans’s conveyancing panel is pretty large so your best bet is just to check with the firms you are getting quotes from whether they are on it. You can search by postcode on the search tool on this site to find solicitors that Vida Homeloans will allow to act for them.
My conveyancer has discovered a difference between the information in Vida Homeloans’s valuation report and what is revealed within the legal papers for the property. My solicitor says that as he is on the Vida Homeloans conveyancing panel he is obliged to check that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action correct?
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) which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. 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 note that you have a post code search directory identifying law firms on the Vida Homeloans conveyancing panel. Do firms pay you a commission if I retain them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Vida Homeloans conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am selling my house. Does my solicitor have to be on the Vida Homeloans conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Vida Homeloans conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I'm at the point of viewing flats and am about to put in an offer. Is it premature to have a solicitor in place? I will be getting a home loan with Vida Homeloans
You should start obtaining conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on the the EA. As you are getting a mortgage with Vida Homeloans , make sure you remember to check that your lawyer is on the Vida Homeloans conveyancing panel.
I have decided to exercise my right to buy my property off the council. I have a mortgage agreed with Vida Homeloans. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event if you are getting a mortgage with Vida Homeloans you will need to appoint a solicitor on the Vida Homeloans conveyancing panel.
I am due to exchange contracts on my flat. I had a double glazing fitted in month 7 but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Vida Homeloans are being problematic. 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.