Specialist products made simple - up to 0.3% rate reductions

Posted by Marketing on November 20, 2019

Vida Homeloans have made some significant changes to their products to create a more simplifed and streamlined range.

RATES REDUCED - Up to 0.3% rate reductions

RESIDENTIAL

  • Loans over £1 million
  • Helping Hand (joint borrower sole proprietor) products

BUY-TO-LET

  • First time buyers/first time landlords
  • Loans over £1 million
  • HMOs and MUBs

ENHANCED CRITERIA - Improvements across residential and buy-to-let ranges

RESIDENTIAL

  • Self-employed contractor affordability now assessed on Day Rate x 46 weeks
  • Interest Only available across all tiers

BUY TO LET

  • 100 property limit on portfolio size removed - now unlimited
  • Reduced Income and Employment verification for self funding BTLs

SPECIALIST MORTGAGES MADE SIMPLE

  • Product numbers and variations reduced by almost 50% - simpler ranges
  • Simplified credit status tier structure to help intermediaries find a product to suit their customers with impaired and improving credit profiles
  • Many buy-to-let fees reduced and moved on to a simple percentage basis