Vida Homeloans Conveyancing Lender Panel Compliance Tool

COMPLETIONmonitor is an online pre- and post-completion checklist for property lawyers. Supported by the Council of Mortgage Lenders and PI insurers. It is a unique risk mitigation tool.

This software optimises the way you can demonstrate to lender panels that you are, and can remain fully compliant with their instructions, with automatic updates on Vida Homeloans’s changes. Even though using this technology is not a condition for being on the Vida Homeloans panel, demonstrating you can stay up to date with Vida Homeloans’s Handbook requirements is an excellent support to your panel application and, just as importantly, protect your firm’s panel status.

COMPLETIONmonitor generates real-time alerts, automatically produces regulatory and CQS reports, and will increase your firm's efficiency. It is also simply to use, cost-effective and, for many firms, results in reduced PII premiums.

Find a Law Firm approved by Vida Homeloans

Mortgage companies often change 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 22/07/2019

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

I am selling my apartment and the estate agent has just e-mailed to say that the buyers are switching solicitor. The reason given is that Vida Homeloans will only work with solicitors on their approved list. Why would a major mortgage company only engage with specific lawyers?
Lenders have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Nationwide , have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.

Lenders point to the increase in fraud as the reason for the cull – criteria have been tightened and a smaller panel should be easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels, or have other concerns about them. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyer’s case. Your purchasers are unlikely to have any sway in the decision.

I am due to move into my new home next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as he informs me that he is duty bound to validate that it is in order for Vida Homeloans. What risks do Vida Homeloans expect the insurance to cover?
Any lawyer on the Vida Homeloans conveyancing panel would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in Vida Homeloans’s Part 2 requirements of the CML Handbook (last updated on Vida Homeloans). Being on the Vida Homeloans conveyancing panel your lawyer is expect to follow these requirements.
I see that you have a post code search directory identifying firms on the Vida Homeloans conveyancing panel. Do firms pay you a commission if I retain them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the Vida Homeloans conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint.
I am selling my house. Does my solicitor have to be on the Vida Homeloans conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Vida Homeloans conveyancing panel they can still act for you on your sale. it might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
I previously instructed online conveyancers based in Manchester who are on the Vida Homeloans solicitor panel. They have just invoiced me a separate fee of £135 for the legal aspects of the Vida Homeloans mortgage. Is this a supplemental conveyancing fee specified by Vida Homeloans?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your solicitors can charge a fee for this. This fee is not set by Vida Homeloans but by your lawyers. Some firms on the Vida Homeloans will charge an ‘acting for lender’ fee and others do not.
My brother and I have had an offer accepted on a apartment I spoke to a lawyer previously used by my mum and he recommended using a law firm 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 pointed out 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.
Ask Vida Homeloans for conveyancing panel firms in your area. Most banks have lawyers on their panel throughout the UK. 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.
After shopping around on the internet I have found a solicitor having made sure that they are on the Vida Homeloans conveyancing panel. Does my lawyer arrange the survey of the property? Or I've read lots of mortgage guides,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Vida Homeloans conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Vida Homeloans will need an independent valuation of the property. Your lawyer will not arrange this. Usually Vida Homeloans will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller. or Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Vida Homeloans you could contact your them to see if they have a list of approved surveyors.