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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.
Looking for information about your firm's panel status?
How does my firm apply to be on the Vida Homeloans Conveyancing Panel? How can my firm be reinstated onto the Vida Homeloans Conveyancing Panel?Find an Approved Solicitor on the Vida Homeloans Conveyancing Panel
Common questions asked concerning the Vida Homeloans Solicitor Panel
Is the fact that my conveyancer is not isted on the Vida Homeloans Solicitor panel that there is a problem with the standard of his conveyancing?
That would more than likely be a wrong assumption to make. 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 top 3 reasons are as follows: (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.
We are only a couple days away from an exchange and my parents having transferred the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my lender Vida Homeloans. Apparently, being on the Vida Homeloans conveyancing panel and acting on their behalf he must inform Vida Homeloans if the balance of the mortgage advance is coming from anyone other than me. I disclosed to the bank about my parent’s contribution when I applied for the mortgage so is it really necessary for him to raise this?
Your lawyer is obliged to check with Vida Homeloans to make sure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only report this to Vida Homeloans if you agree, failing which, your lawyer must cease to continue acting.
Is it necessary during the course of the conveyancing process to visit 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 Bristol
so that I can attend their offices when needed.
Whereas this was necessary twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Bristol
.
My grandfather passed away six months ago and as sole heir and executor was left the house. The house had a small mortgage left on it of around £4500. 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.
I was thinking of purchasing my friend’s property. Assuming we can agree a figure, what’s the best way to move forward? I hope to get a mortgage with Vida Homeloans. Is there anyway to cut out the solicitors to save us both money? My father said that years ago it was possible to take the documents into the local Land Registry office and they did the rest
If you are getting a mortgage with Vida Homeloans involved you will need to appoint a solicitor on the Vida Homeloans conveyancing panel. We would not encourage you to both use the same solicitors' firm. There are clear conflict of interest issues and it's not going to make a huge difference to the speed of the overall process. So as not to hold things us you should pass on your solicitors details to Vida Homeloans. Feel free to use our search tool to look for a licensed conveyancer or solicitor on the Vida Homeloans conveyancing panel.
We have had an offer accepted on a apartment I spoke to a lawyer previously used by my mum and he recommended using a solicitor approved by Vida Homeloans. The estate agent recommended two local firms so I asked Vida Homeloans if the 2 suggested solicitors are approved, which they are not. Vida Homeloans suggested that either practice can fill out the appropriate forms to become approved. Do I (1) save myself the aggravation and use one of Vida Homeloans 's conveyancing panel solicitors (2) Use the local solicitor and accept there may be delays etc as they go through the approval process.
Enquire of Vida Homeloans to suggest a law firm in your location. Lenders have them all over the country. You can also use our search tool at the top of this page to search for a lawyer on the Vida Homeloans conveyancing panel based on location. If you particularly like the sound of one of the local lawyers that you have spoken to ask them if they would go onto Vida Homeloans conveyancing panel as it may only take about 2-3 weeks. As long as they meet Vida Homeloans’s requirements it can be a very simple job for the solicitor. Other stuff will be going on in parallel (as you are at an early stage) so it may not delay matters.
My fiance and I are at the point of viewing apartments and now considering a potential offer. Is it premature to have a solicitor in place? I intend to finance via a home loan with Vida Homeloans
It would be sensible to have your start your search soon rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on the the estate agent. As you are getting a mortgage with Vida Homeloans , make sure you remember to check that your lawyer is on the Vida Homeloans conveyancing panel.
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Transfer of Equity for Vida HomeloansPlease note that Lexsure Ltd is in no way associated with nor affiliated with Lexsure Solicitors