Vida Homeloans Solicitor Panel Sample Enquires to our Call Center from members of the public
Am I correct in assuming that the fact that my conveyancer is not on the Vida Homeloans Conveyancing panel that there is a problem with the quality of his conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the firm and ask them why they are no longer on the approved list for Vida Homeloans.
I am due to complete my purchase next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in has capacity as lawyer for Vida Homeloans. What risks do Vida Homeloans expect the insurance to cover?
All property lawyers on the Vida Homeloans conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Vida Homeloans’s Part 2 requirements of the CML Handbook (last updated on Vida Homeloans). Being on the Vida Homeloans conveyancing panel your lawyer is expect to follow these instructions.
Do I have to pop into the offices of the Vida Homeloans conveyancing panel solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Leeds
so that I can pop in to their offices if required.
Most conveyancing panel lawyers for Vida Homeloans undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.
My grandmother passed away six months ago and as sole heir and executor was left the property. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds 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.
When it comes to mortgage companies such as Vida Homeloans do lawyers have to be pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Is it the case that all conveyancing lawyers on the Vida Homeloans conveyancing panel work on a no move no charge basis?
On the whole there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their package
We are getting 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 would not normally 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 panel
