Q and A’s regarding the Vida Homeloans Solicitor Panel
from members of the public
I was advised recently by my IFA that my property lawyer is not on the Vida Homeloans Conveyancing panel. What can I do to be certain that this is indeed the case?
The first thing you need to do is to contact your conveyancer. You lawyer should advise you what has happened. If they are not on the panel they could put your in touch with solicitors on the the approved Vida Homeloans solicitor panel.
We are due to exchange on the purchase a house but as a result of damage from the recent storms I have agreed compensation from the seller of £3k approx by way of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my mortgage company Vida Homeloans will not agree to this. Why was Vida Homeloans even consulted?
Your lawyer being on the Vida Homeloans conveyancing panel is duty bound to inform Vida Homeloans of any changes to the purchase price. If you were to refuse your lawyers to disclose the reduction to Vida Homeloans then they would have to discontinue acting for you and Vida Homeloans.
Are there any apps to help find a local solicitor on the Vida Homeloans conveyancing panel? I have a car and am prepared to travel up to 10 miles to meet the conveyancer.
You can use the find a conveyancing panel tool on this page. Please choose the lender and your location and you will see a number of lawyer located nearest you. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the Vida Homeloans solicitor panel.
My solicitors in Manchester have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with Vida Homeloans. Is it case that being on the Vida Homeloans conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the Vida Homeloans Conveyancing Panel Terms. It might be worth you contacting Vida Homeloans directly.
When it comes to lenders such as Vida Homeloans do solicitors have to be pay a fee to be on the conveyancing panel?
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 true that all solicitor firms on the Vida Homeloans conveyancing panel overseen by the SRA?
As a firm of solicitors, in order to be on the Vida Homeloans conveyancing panel they would need to be regulated by the SRA. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers (CLC).
I have paid off my mortgage with Vida Homeloans. I assume I don't need a solicitor on the Vida Homeloans panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Vida Homeloans mortgage they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Vida Homeloans mortgage from the register. Vida Homeloans,and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
but are not moving to another property
where the Vida Homeloans has sent the Land Registry the discharge electronically, and
the Vida Homeloans has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Vida Homeloans mortgage has been paid off.