Common questions asked concerning the Vida Homeloans Solicitor Panel
from members of the public
I am getting a mortgage offer from Vida Homeloans. I would like to employ the services of a Licensed Conveyancer. Does the Vida Homeloans Solicitor panel exclude Licensed Conveyancers
Vida Homeloans’s approved solicitor list is, like many other lenders associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I do hope you can help me. My lawyer is advising me that he is legally obliged to order a Local Authority search because the firm are on the Vida Homeloans approved lawyer 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.
Do all mortgage companies provide you with an approved list of solicitors? How do you know who is on the Vida Homeloans conveyancing panel?
The law firm practices themselves provide us confirmation that they are on the Vida Homeloans conveyancing panel as opposed to being supplied with a list from Vida Homeloans directly.
I am purchasing a semi-detached house and getting a mortgage with Vida Homeloans. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing you will have to appoint a solicitor on the Vida Homeloans conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to made in you doing to conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on the Vida Homeloans conveyancing panel in your location.
Last month we had a mortgage agreed in principle with Vida Homeloans. Solicitors have been chosen? How long does it take for Vida Homeloans to send the offer to our conveyancer
Some lenders take longer than others. Have Vida Homeloans done the valuation? Have you advised Vida Homeloans as your lawyers details and checked that your lawyer is on the Vida Homeloans conveyancing panel? It is not unusual for a mortgage offer to take a month to come through
I was told three weeks ago that my mortgage has been agreed
to by Vida Homeloans. Is it usual for Vida Homeloans to only issue the offer once my
solicitor is approved on their conveyancing panel?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Vida Homeloans to deal with your lawyers application to be on the Vida Homeloans conveyancing panel. There's no guarantee that your solicitors will be accepted.
After shopping around on the internet I have found a solicitor having checked that they are on the Vida Homeloans conveyancing panel. Does my lawyer arrange the survey of the property?
Or
I've read lots of house buying,I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my solicitor - who is on the Vida Homeloans conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Vida Homeloans will need an independent valuation of the property. Your lawyer will not arrange this. Usually Vida Homeloans will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
or
Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Vida Homeloans you could contact your them to see if they have a list of approved surveyors.