Vida Homeloans changes criteria
Specialist mortgage lender Vida Homeloans for intermediaries has improved its criteria, introducing higher maximum loan amounts for buy-to-let and 90% loan-to-value for first-time buyers.
On its specialist residential range, Vida has introduced a maximum LTV of 90% for first-time buyers, 100% discounted purchase price for Right to Buy and a new maximum loan amount of £1.5m.
On its specialist buy-to-let range, Vida has increased its maximum loan amount to £4m on portfolios of up to 15 properties. The lender will consider flats above commercial premises, including restaurants and takeaways.
Louisa Sedgwick, director of sales at Vida Homeloans, said: “Here at Vida Homeloans, we are always listening to feedback from mortgage intermediaries, at the same time as designing products for borrowers who are currently not well-served by high street lenders.
“These new criteria improvements are clear evidence of our desire to grow our specialist mortgage lending substantially in 2018.
“Don’t forget that we also support our intermediaries with a full set of online tools to make dealing with Vida easy, including a 10 minute DIP, residential and BTL affordability calculators and a criteria search look-up facility.”