FAQs for the Vida Homeloans Solicitor Panel
from members of the public
My husband and I are purchasing a 3 bedroom flat in Leeds with a mortgage from Vida Homeloans. We have a solicitor but Vida Homeloans says she’s not on their "panel". It seems we have little choice but to instruct 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 do hope you can help me. My solicitor is advising me that he has to conduct a Local Authority search because the firm are on the Vida Homeloans conveyancing panel. Is this really necessary?
You have limited options available to you. As you are taking a mortgage with Vida Homeloans your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of Vida Homeloans’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements last updated Vida Homeloans. even if you were a cash buyer you would be ill advised not to carry out a local authority search.
I am purchasing a property and require a conveyancing solicitor in London who is on the Vida Homeloans approved. Can you recommend a local conveyancing firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Vida Homeloans . We don’t recommend any particular firm.
I am attempting to get my ex-wife removed the mortgage deeds. Can Vida Homeloans really insist on which solicitor I can or can not instruct?
You can use any solicitor you like but Vida Homeloans then has the right to appoint a different solicitor to act for them at your expense. It might be more cost effective and quicker to instruct a lawyer who is on the Vida Homeloans solicitors panel
Are all Conveyancing Quality Solicitors on the Vida Homeloans conveyancing panel?
Some major lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
We are getting a further advance on our mortgage from Vida Homeloans as we wish to carry out alterations or improvements 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 instruct firms on 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 list
The for formalities of my remortgage has taken place with a loan from Vida Homeloans. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about Vida Homeloans. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first port of call should be one of the Vida Homeloans branches or the Customer Care Department at Vida Homeloans head office. We understand that complaints to Vida Homeloans are resolved effectively and efficiently. However if you are not satisfied that the matter is resolved you can write to the
Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.