Wolves' move for Blackburn full-back Ben Marshall is on ice with their Championship rivals believed to be playing hardball over his fee.
The 25-year-old is one of Wolves' top targets this month but Rovers want at least £2million for a player who can move for free in the summer when his contract expires.
And a tentative loan inquiry for striker Ross McCormack is thought to be have been rebuffed with Villa preferring a permanent deal.
McCormack, who moved to Villa Park for £12m at the start of the season, has started three of Villa's last four matches and with Jonathan Kodjia and Jordan Ayew off to the African Cup of Nations and Rudy Gestede on the verge of joining Middlesbrough they are short up front.
Marshall is predominantly a right back but can play as a winger and is also comfortable on the left flank.
Conor Coady has recently filled in at right back in place of the out-of-form Dominic Iorfa and Lambert, who managed Marshall at Ewood Park last summer, is a keen admirer.
However Wolves won't pay over the odds for a player they can technically agree a pre-contract with now on a Bosman deal.
They now face a waiting game for the rest of the month unless Rovers lower their price.
A striker and a defender are priority positions for Lambert in January.
No striker has found the net since August 20 while Wolves have regularly shipped goals at the other end of the pitch, especially at Molineux where they've conceded at least two goals in six of their past seven matches.
Reported moves for Ipswich defender Luke Chambers and Villa midfielder Ashley Westwood are also thought to be wide of the mark.
Wolves had hoped to do business early in the window but boss Paul Lambert, speaking after Monday's 0-0 draw at Sheffield Wednesday, suggested nothing was imminent.
He said: "We're trying with one or two, it's very difficult in this window. The big one is the summer.
"This club's had an influx of players in the summer and we've got too many players.
"We've got to get rid of some lads I don't think will make it with us, which is normal, but we also need a little bit of a hand.
"It won't be gung-ho and it won't be crazy, but we'll try and get one or two in."Subscribe to our Newsletter