Vida Homeloans

Walesgirl

We put an application in last Friday with Vida Homeloans. I can’t find much about people using them recently. Does anyone else have an application or offer recently from them? Just wondering how long they take? 

Louise_G_1983

Hi, we put an application in about a month ago with a broker. After requesting more information we still haven't had an offer which is stressful. They've done valuation and two hard credit searches so assuming its progressing. Just hoping the offer comes through soon 🙏 

Walesgirl

Louise_G_1983 said:

Hi, we put an application in about a month ago with a broker. After requesting more information we still haven't had an offer which is stressful. They've done valuation and two hard credit searches so assuming its progressing. Just hoping the offer comes through soon 🙏 

They mentioned about the valuation being done but not heard anything since last Wednesday. Not sure whether to pester our broker yet or wait and extra day 

Walesgirl

What sort of extra documents did they require?

Louise_G_1983

They wanted an explanation about how we got into debt and wanted to see evidence of my DMP and that's its being managed. We are a 'tricky' case. Our current situation is much better, and we are 75% LTV. Its with the underwriter now so hopefully a decision comes through soon. Trying to stay positive and feel that no news is good news and if they were going to decline us they would have done so by now! 
I think a different team do the vetting before it goes to underwriting stage? 

Paul_K_2

Hi Walesgirl
I completed with Vida 2 months ago, the application was via a broker. and took almost 6 months to complete (started Sep 2020). They asked all the usual questions and copies of payslips and bank statements etc, nothing out of the usual stuff.
Good luck with it

ACG

It would be interesting to hear how people find them. 
Last year they were one of the worst lenders when covid hit. They pulled the shutters down and put a lot of people through a lot of pain and upset - arguably it was understandable as nobody really knew how covid would affect things. But then they came back and make a complete pigs ear of it - to make a mess of things twice in a year is very hard to forgive and at the minute they are in my "do not touch with a bargepole" book. 

However, they have sent emails around saying they know they were not great and they are trying to improve. But until I have a few examples of them being decent it is difficult to recommend them to customers. 

JaneEyre

We used vida at the end of last year.   We had quite a few defaults, a gifted deposit and were using the Scottish First Home Fund, so were restricted in which lenders we could use. The only issue I would say we had, was the lack of communication. I felt they could have kept us updated a bit better. 

Our broker was great and had us supply everything they could possibly ask for in advance, which I think was half the battle, as they only came back to us for info on a savings account I'd forgotten all about, but had transferred money to my main account from.  

At the time it was really stressful, as they didn't keep us updated on what was happening. Our application sat in a pile for the underwriter for weeks! In the end though, it was actually a smooth process, and we had the keys 8 weeks to the day from when we applied, which was how long we were told it would take initially.   

I hope everyone waiting on an offer hears back soon!

Edited to add: It took 7 weeks to get our verbal offer and the written offer had to be faxed/emailed through to enable the missives to be concluded on the day we got our keys! 

Walesgirl

Thanks everyone! 

They’ve done the valuation & all came back ok. It’s with an underwriter- queries about if either of us had been furloughed and about my husbands past credit history. 

My broker said shouldn’t be an issue and hoping for an offer by late Friday/ maybe Monday. Will keep updating as I couldn’t find much on Vida on here  

Louise_G_1983

Just wanted to update. We had a query yesterday about a land registry charge which was to do with HTB which we are redeeming. Our broker has just rang to say Vida have now passed it to offer stage but we won't get offer through until next week. So that took about 6 weeks from application but our case was complex. 

Walesgirl

Louise_G_1983 said:

Just wanted to update. We had a query yesterday about a land registry charge which was to do with HTB which we are redeeming. Our broker has just rang to say Vida have now passed it to offer stage but we won't get offer through until next week. So that took about 6 weeks from application but our case was complex. 

Thats fab news for you!! We are still waiting too hear. I hate waiting too. Praying we hear something soon