Buy to Let - Vida Homeloans Conveyancing Requirements for Properties Let at Completion

Vida Homeloans buy-to-let obligations are expressed in Part 1 of the Council of Mortgage Lenders’ Handbook which provides that unless it is clear from the mortgage offer that the property is tenanted or is to be let at completion then you must check with Vida Homeloans as to whether Vida Homeloans lend on "buy-to-let" properties and that the mortgage is for that purpose.

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Previously updated on 16/04/2024 Section Two of the UK Finance Lenders’ Handbook for Vida Homeloans deals with who you need to contact If different from paragraph 1.11, i.e the contact point if property is let or to be let. It also deals with whether Vida Homeloans lend on buy-to-let

As 1.11a

In situations where the property, or part of it, is currently let, or is to be let at completion, then the letting must comply with the details set out in the Vida Homeloans mortgage offer or any consent to let Vida Homeloans issue. If the letting does not comply, or no such details are mentioned, you are obliged report the position to Vida Homeloans

Part 2 of the UK Finance Lenders’ Handbook for Vida Homeloans specifies who you need to contact If different from 1.11, i.e the contact point when you do not have details of current letting or letting to take place at completion:

As 1.11a

Conveyancing solicitors on the Vida Homeloans conveyancing panel,when it comes to buy to let properties need to check Part 2 of the UK Finance Lenders’ Handbook as to whether counterparts or certified copies of all tenancy agreements and leases in respect of existing tenancies must be sent to Vida Homeloans after completion

In considering whether the lender requires a counterpart letting contract to be sent Vida Homeloans specifically states:

No

The information contained within this webpage is for general information purposes only for lawyers in England and Wales, it does not constitute advice and you should always check the UK Finance Lenders’ Handbook for Vida Homeloans Buy to Let requirements as well as the mortgage offer. Whilst we endeavour to keep the information up to date and correct but does not make any representation or warranties of any kind about its completeness, accuracy, reliability or suitability. Any reliance you place on the information is strictly at your own risk. Lexsure will not be liable for any direct or indirect loss or damage arising out of or in connection with the use of this information. The same caveat applies to members of the public looking at this page. If you wish to find a buy to let conveyancing specialist on the Vida Homeloans panel or a buy to let mortgage broker click here.