Vida Homeloans Conveyancing Panel Information

The Council of Mortgage Lenders is not a regulator and therefore cannot advise on grievances against lenders. You can of course contact Lexsure to see if we can help.

The Council of Mortgage Lenders (or the BSA) do not involve themselves in training although they do organise a number of useful legal related conferences which are attended by firms on the Vida Homeloans conveyancing panel. We do intend to run specific lender focused seminars in the coming months including a webinar on Vida Homeloans’s Part 2 requirements. Practitioners on the Vida Homeloans conveyancing panel are welcome. Further details will be made available as part of the LENDERmonitor P2 change Notifications.

In the same way that there is a unique Vida Homeloans conveyancing panel most building societies, operate a conveyancing panel for solicitors and other conveyancers that the lender will instruct. Terms and Conditions and criteria for inclusion on a building society conveyancing panel vary from lender-to-lender. Having CQS accreditation may be a requirement. Institutional lenders, such as a building society, is a client and is entitled to instruct the solicitor or conveyancer of its choosing (who, in turn, is free to accept or refuse instructions). Therefore, if lender and borrower cannot agree which solicitor or conveyancer should represent them jointly, they would usually proceed on a separate representation basis. The BSA have not published the equivalent of the UK Finance Lenders’ Handbook Part 3s.

Please tread carefully here as what you are intending may not be acceptable to the mortgage company. It is possible that you (as a non-panel firm) or the mortgage applicant are not entitled instruct a panel firm of your choice. Many lenders make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender will appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer. You also need to make the costs implications and potential for delay very clear to your client.

Your insurance brokers are your best port of call to address this question. The chances are that on the basis that you have not been removed for fraud or negligence reasons that there will be little or no impact. The main reason why a firm would be removed off of a lender panel is due to low volume of conveyancing cases although there may be a number of criteria for Vida Homeloans solicitor panel membership. Please remember that it is always important that you complete your insurance forms accurately.

You need to contact Vida Homeloans to obtain standard documents. The CML Handbook has a specific question for lenders to establish who to contact to obtain standard documents. Vida Homeloans in their Part 2’s state: Don’t forget to quote your Vida Homeloans conveyancing panel number.