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approved by VidaHomeloans
Ready to buy a new home? Failing to check that a lawyer is on the VidaHomeloans list of approved solicitors can put your transaction at risk of delay or failure.
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Vida Homeloans Conveyancing Panel : Questions and Answers
I have just been informed by my lender that my property lawyer is not on the Vida Homeloans Conveyancing panel. How can I be sure that this is correct?
The best course of action for you to take is to contact your conveyancer. You lawyer should advise you what has happened. If they are not on the panel they may recommend you to a firm that is on the conveyancing panel for Vida Homeloans.
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.
I need to find a Vida Homeloans panel solicitor in Stirling. Can you assist?
It is not clear why you need a Vida Homeloans panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to Vida Homeloans to find out which solicitors in Vida Homeloans are on their panel. If you do find such a firm not listed please direct them to our site to list. After all the cost is only one £1 a month
Can you clarify what the consequences are if my solicitor is expelled from the Vida Homeloans Solicitor panel before completion?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have ti instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by the regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
We expect to receive a DIP from Vida Homeloans this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc).Do the Vida Homeloans recommend a solicitor on the Vida Homeloans conveyancing panel, or is it better to find our own lawyer
You will need to appoint solicitors independently although you'll need to choose one on the Vida Homeloans conveyancing panel. The solicitor represents both you and the Vida Homeloans through the process.
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?
Mortgage companies tend not to not issue a mortgage 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.
My ex -wife’s name is on the Vida Homeloans mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Vida Homeloans mortgage in order to sell?
As regards the Vida Homeloans mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Vida Homeloans in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.