Vida Homeloans has introduced a new maximum LTV of 90% for first time buyers on its specialist residential range, along with a 100% discounted purchase price for right to buy and a new maximum loan amount of £1.5m.
On its specialist BTL 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.
Vida’s new mortgage range comes after a successful first year of trading which saw it attract £2bn in DIPs, £1bn in applications and over £400m in completions.
Vida Homeloans director of sales - mortgages Louisa Sedgwick commented: “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.”
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