Vida Homeloans Conveyancing Lender Panel Compliance Tool

Lexsure’s COMPLETIONmonitor is web-based pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and professional indemnity insures. COMPLETIONmonitor is a unique risk management tool.

This system is the only way you can prove to lender panels that you are, and can stay fully compliant with their instructions, with notifications given on Vida Homeloans’s changes. While utilising this technology is not a prerequisite for Vida Homeloans , demonstrating you can stay up to date with Vida Homeloans’s Handbook requirements is a helpful support to your panel application and, more importantly, safeguard your firm’s panel status.

The software creates real-time alerts, automatically produces regulatory and CQS reports, and will enhance your firm's efficiency. In addition it is simply to use, cost-effective and, for many firms, leads to reduced PII premiums.

Find a Law Firm approved by Vida Homeloans

Lenders often vary their requirements. The UK Finance Lenders’ Handbook requirements from Vida Homeloans are not guidelines, they are instructions from a client. As with many clients, instructions can change - and they do change, frequently:

A Timeline of Policy Changes


Since 2008, Vida Homeloans has made 58 revisions or additions to sections of their version of the CML Handbook.
That equates to a section change every 47.1 days. In total, 4% of the sections of P2 of the UK Finance Lenders’ Handbook for Vida Homeloans have been changed since 15/12/2008.

To find out more about lender panel compliance,

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Recent Changes Include

# Date Assoc. Changes Related To
5.4.6 02/10/2018 CML Local Search Indemnity Insurance
16.4.2 20/09/2018 CML
1.11a 21/06/2018 CML
1.11b 21/06/2018 CML
6.7.1 21/06/2018 CML
6.6.1 28/10/2016 CML
14.1.4 27/09/2016 CML
16.3.7b 27/09/2016 CML
17.2.1b 27/09/2016 CML

Last update 08/01/2019

Common questions asked concerning the Vida Homeloans Conveyancing Panel from members of the public

My property lawyer is not on the Vida Homeloans Approved Panel. Can I still use my family solicitor even though they are not on the Vida Homeloans list of approved lawyers?
You will need to have a conveyancer complete the legal work required when you take out a Vida Homeloans mortgage to buy your property. They’ll carry out all the necessary legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You can instruct a conveyancing firm of your choice. However, if the firm selected is not a member of the Vida Homeloans conveyancing panel additional costs will be incurred as separate legal representation will be required by Vida Homeloans. Conveyancing panel applications can be submitted, so if your conveyancer has not previously applied for membership they can do so.
Much to my surprise my lawyer has requested from me personal identification documents saying that this is part of his obligations as a conveyancer on the Vida Homeloans Solicitor panel. Can this be correct?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that Vida Homeloans also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with Vida Homeloans CML Handbook requirements last updated on Vida Homeloans
I am looking to buy a flat and require a conveyancing solicitor in Manchester who is on the Vida Homeloans approved. Can you recommend a local solicitor?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for Vida Homeloans . We don’t recommend any particular firm.
Can you clarify what the consequences are if my solicitor is removed from the Vida Homeloans Conveyancing panel in advance of completion?
First, 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.
Is it the case that all conveyancing solicitors on the Vida Homeloans conveyancing panel overseen by the SRA?
As 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).
The mortgage over my property is with Vida Homeloans. Conveyancing has been completed a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Vida Homeloans?
Vida Homeloans must be informed of your intention in advance of letting out your property as this is likely to be a breach of Vida Homeloans’s mortgage conditions. It may be that Vida Homeloans will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Vida Homeloans directly. It should not be necessary to do this via a Vida Homeloans conveyancing panel lawyer.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date . I have telephoned Vida Homeloans on various occasions and told it wasn't a problem and they would lend. My solicitor - who is on the Vida Homeloans conveyancing panel- telephoned and was told not they would not lend in accordance with their CML Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancer is on the Vida Homeloans panel she or he must comply with the CML Handbook requirements for Vida Homeloans. Unless your lawyer obtains specific confirmation in writing that Vida Homeloans will go ahead your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask Vida Homeloans to contact your lawyer in writing confirming that they will accept the remaining number of years left on the lease.