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Vida Homeloans Conveyancing Panel Assistance:
Is it true that disciplinary action can be taken if fail to comply with the UK Finance Lenders’ Handbook Provisions? For example, if I am on the Vida Homeloans and make an error not only can I face a claim but I can also be hauled up before the SDDT?
Depending of the nature of the breach yes. Only last year the Tribunal, having considered the a complaint at the instance of the Council of the Law Society of Scotland against Peter MacIntosh Aikman, Solicitor, Messrs Aikman Bell Solicitors, 19 Cadzow Place, Edinburgh; The SDDT found the Respondent guilty of Professional Misconduct in respect of; his breach on two occasions of Rule 6 (1) of the Solicitors (Scotland) Accounts Etc Rules 2001, his breach of his client’s specific instructions, his breach on five occasions of paragraphs 5.1.1, 5.1.2 and 5.10.3 of the UK Finance Lenders’ Handbook, his breach on one occasion of paragraph 5.9.1 of the UK Finance Lenders’ Handbook, his breach on two occasions of the UK Finance Lenders’ Handbook paragraph 5.8, his breach on four occasions of the Birmingham Midshire’s specific stipulations that cases where the seller has owned the property for less than 6 months and back to back transactions were not acceptable. The Respondent was fined £1000 as well as being liable in the expenses of the LSS and of the Tribunal.
Do Vida Homeloans publish the conveyancing panel size and the number of conveyancing firms dismissed each year?
With lenders and solicitors working so closely together, it is surprising that there has not been greater demand for the introduction of transparency regarding not just the figures for the Vida Homeloans conveyancing panel but for all lender panel listings.
As a firm on the Vida Homeloans conveyancing panel we wish to remain compliant with Vida Homeloans’s instructions. Does the LENDERmonitor pre-completion search apply to CML P2 applicable to Scotland?
Yes the Policy search does track changes to the Vida Homeloans UK Finance Lenders’ Handbook P2 for Scotland. The search is free and very simple to use. Please click here to order a search.
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