LENDING CRITERIA

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If fees are elected to be added to the loan, completion and electronic transfer fees will be deducted from the funds advanced on completion, unless the customer has positively elected to add the fees to the mortgage amount.

The value of the funds advanced to the customer will be subject to the maximum LTV threshold for the relevant product plus fees where applicable. 

Accepted on all schemes and is defined as a customer who has not previously owned a property with or without a mortgage on that property. 

Up to 90% LTV including fees. Where borrowing above 85% LTV applicants need to be aged at least 25 with a minimum property valuation of £100,000

Accepted

LTV's available up to scheme limits. High rise flats must have a lift if over 4 floors (ground floor + 3 floors). Flats will be accepted if situated within the first 3 floors with no lift. 

High quality flats over 10 storeys (maximum 20) can be referred for consideration based on valuer’s comments on mortgageability & saleability

Flats situated above or immediately adjacent to commercial premises: Up to 75% LTV
Flats situated above or immediately adjacent to restaurants/takeaways/public houses/launderettes: Up to 60% LTV

Free valuation for properties up to £500k & a reduced assessment fee of £49 which will be refunded 30 days after completion.

This will only be available on Fee Saver Range.

Recent updates to Vida Criteria

100% Debt Consolidation now available on residential products up to 70% LTV
Up to three unsecured missed payments allowed in the last 6 months
Maximum BTL loan increased to £1.5m