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Buy to Let Products

Introducing our new Buy to Let product range effective from 11 January 2022

  • New simplified Lending Tiers
  • Specialist properties are our speciality
  • Up to 85% LTV
  • Extended Fee Saver and Flex ranges available
Buy to Let Product Guide
Updated January 25th 2022

 

Criteria Guide
Updated January 11th 2022

 

Customer Credit Profile

See where your customer fits within our Vida tiers.

CriteriaVida 48Vida 24Vida 12
Registered Defaults and CCJs (months)0 in 480 in 240 in 12
Value of unsatisfied CCJs£0£2,500£5,000
Missed Mortgage / Secured Payments* (months)0 in 360 in 120 in 12
Unsecured Arrears (last 6 months)013
Unsecured missed payments in the last 6 months combined value£0£500£500

 

*Worst status of 2 in the last 24 months and all historic arrears must have been paid up to date for at least 6 months prior to application.
• Debt Management Plan/Debt Arrangement Schemes may be considered at Underwriter discretion - subject to satisfactory affordability and conduct checks.
• Bankruptcy/IVA/DRO/Trust Deed discharged over 6 years.
• Previous Repossession in last 10 years not acceptable.

  • Vida 48
    Registered Defaults and CCJs0 48
    Value of unsatisfied CCJ’s£0
    Missed Mortgage / Secured Payments* (months)0 in 36
    Unsecured Arrears (last 6 months)0
    Unsecured missed payments in the last 6 months combined value£0
  • VIDA 24
    Registered Defaults and CCJs0 in 24
    Value of unsatisfied CCJ’s£2,500
    Missed Mortgage / Secured Payments* (months)0 in 12
    Unsecured Arrears (last 6 months)1
    Unsecured missed payments in the last 6 months combined value£500
  • VIDA 12
    Registered Defaults and CCJs0 in the last 12 months
    Value of unsatisfied CCJ’s£5,000
    Missed Mortgage / Secured Payments* (months)0 in 12
    Unsecured Arrears (last 6 months)3
    Unsecured missed payments in the last 6 months combined value£500


Standard Range | 2 and 5 year terms

For portfolio and non-portfolio landlords to purchase or remortgage single BTL units

Available for both individuals and SPVs

 

ProductLTVInitial rateTypeProduct feeMax loan
2 years fixed65%2.84%Standard1.5%£1m
75%2.94%Standard1.5%£1m
80%3.84%Standard1.5%£750k
85%4.74%Standard1.5%£500k
5 year fixed65%3.04%Standard1.5%£1m
3.44%Flex1.75% (min £2,495)£1m
3.39%Fee Saver£1,495£650k
75%
3.14%Standard1.5%£1m
3.54%Flex1.75% (min £2,495)£1m
3.49%Fee Saver£1,495£750k
80%3.89%Standard1.5%£750k
4.29%Flex1.75% (min £2,495)£750k
4.24%Fee Saver£1,495£750k
85%4.79%Standard1.5%£500k
5.19%Flex1.75% (min £2,495)£500k
5.14%Fee Saver£1,495£500k

 

Fees:

Assessment Fees

A non-refundable £180 is payable on all applications

Fee saver

• £1,495 product fee
• One free valuation for properties valued up to £1m
• £250 contribution towards legal fees paid within 30 days of completion

Flex

• 1.75% (min £2,495) product fee can be added to loan
• Standard valuation fees apply


Additional information:

Minimum loan
£100k

ERCs
• 2 Year 4%, 3%
• 5 Year 5%, 4%, 3%, 3%, 3%
• 5 Year Flex 5%, 5%, 5%

Vida Variable Rate (VVR)
2.15% set on 14.08.20

Revert rate
5.19% (VVR +3.04%)

 

 

ProductLTVInitial rateTypeProduct feeMax loan
2 years fixed65%3.24%Standard1.5%£1m
75%3.34%Standard1.5%£1m
80%4.44%Standard1.5%£500k
5 year fixed65%3.44%Standard1.5%£1m
3.84%Flex1.75% (min £2,495)£1m
3.79%Fee Saver£1,495£650k
75%
3.54%Standard1.5%£1m
3.94%Flex1.75% (min £2,495)£1m
3.89%Fee Saver£1,495£750k
80%4.69%Standard1.5%£500k
5.09%Flex1.75% (min £2,495)£500k
5.04%Fee Saver£1,495£500k

 

Fees:

Assessment Fees

A non-refundable £180 is payable on all applications

Fee saver

• £1,495 product fee
• One free valuation for properties valued up to £1m
• £250 contribution towards legal fees paid within 30 days of completion

Flex

• 1.75% (min £2,495) product fee can be added to loan
• Standard valuation fees apply


Additional information:

Minimum loan
£100k

ERCs
• 2 Year 4%, 3%
• 5 Year 5%, 4%, 3%, 3%, 3%
• 5 Year Flex 5%, 5%, 5%

Vida Variable Rate (VVR)
2.15% set on 14.08.20

Revert rate
5.19% (VVR +3.04%)

 

ProductLTVInitial rateTypeProduct feeMax loan
2 years fixed65%3.74%Standard1.5%£1m
75%3.84%Standard1.5%£1m
80%5.34%Standard1.5%£500k
5 year fixed65%3.94%Standard1.5%£1m
4.34%Flex1.75% (min £2,495)£1m
4.29%Fee Saver£1,495£650k
75%
4.04%Standard1.5%£1m
4.44%Flex1.75% (min £2,495)£1m
4.39%Fee Saver£1,495£750k
80%5.59%Standard1.5%£500k
5.99%Flex1.75% (min £2,495)£500k
5.94%Fee Saver£1,495£500k

Fees:

Assessment Fees

A non-refundable £180 is payable on all applications

Fee saver

• £1,495 product fee
• One free valuation for properties valued up to £1m
• £250 contribution towards legal fees paid within 30 days of completion

Flex

• 1.75% (min £2,495) product fee can be added to loan
• Standard valuation fees apply


Additional information:

Minimum loan
£100k

ERCs
• 2 Year 4%, 3%
• 5 Year 5%, 4%, 3%, 3%, 3%
• 5 Year Flex 5%, 5%, 5%

Vida Variable Rate (VVR)
2.15% set on 14.08.20

Revert rate
5.19% (VVR +3.04%)


HMOs and MUBs | 2 and 5 year terms

For portfolio and non-portfolio landlords to purchase or remortgage specialist property types such as HMOs and MUBs

Available for both individuals and SPVs

 

ProductLTVInitial rateTypeProduct feeMax loan
2 years fixed65%3.04%HMO/MUB1.5%£1m
75%3.14%HMO/MUB1.5%£1m
80%4.04%HMO/MUB1.5%£750k
5 year fixed65%3.24%HMO/MUB1.5%£1m
3.64%HMO/MUB Flex1.75% (min £2,495)£1m
3.59%HMO/MUB Fee saver£1,495£650k
75%
3.34%HMO/MUB1.5%£1m
3.74%HMO/MUB Flex1.75% (min £2,495)£1m
3.69%HMO/MUB Fee saver£1,495£750k
80%4.09%HMO/MUB1.5%£750k
4.49%HMO/MUB Flex1.75% (min £2,495)£750k
4.44%HMO/MUB Fee saver£1,495£750k

Fees:

Assessment Fees

A non-refundable £180 is payable on all applications

Fee saver

• £1,495 product fee
• One free valuation for properties valued up to £1m
• £250 contribution towards legal fees paid within 30 days of completion

Flex

• 1.75% (min £2,495) product fee can be added to loan
• Standard valuation fees apply


Additional information:

Minimum loan
£100k

ERCs
• 2 Year 4%, 3%
• 5 Year 5%, 4%, 3%, 3%, 3%
• 5 Year Flex 5%, 5%, 5%

Vida Variable Rate (VVR)
2.15% set on 14.08.20

Revert rate
5.19% (VVR +3.04%)

 

 

ProductLTVInitial rateTypeProduct feeMax loan
2 years fixed65%3.44%HMO/MUB1.5%£1m
75%3.54%HMO/MUB1.5%£1m
80%4.64%HMO/MUB1.5%£500k
5 year fixed65%3.64%HMO/MUB1.5%£1m
4.04%HMO/MUB Flex1.75% (min £2,495)£1m
3.99%HMO/MUB Fee saver£1,495£650k
75%
3.74%HMO/MUB1.5%£1m
4.14%HMO/MUB Flex1.75% (min £2,495)£1m
4.09%HMO/MUB Fee saver£1,495£750k
80%4.89%HMO/MUB1.5%£500k
5.29%HMO/MUB Flex1.75% (min £2,495)£500k
5.24%HMO/MUB Fee saver£1,495£500k

Fees:

Assessment Fees

A non-refundable £180 is payable on all applications

Fee saver

• £1,495 product fee
• One free valuation for properties valued up to £1m
• £250 contribution towards legal fees paid within 30 days of completion

Flex

• 1.75% (min £2,495) product fee can be added to loan
• Standard valuation fees apply


Additional information:

Minimum loan
£100k

ERCs
• 2 Year 4%, 3%
• 5 Year 5%, 4%, 3%, 3%, 3%
• 5 Year Flex 5%, 5%, 5%

Vida Variable Rate (VVR)
2.15% set on 14.08.20

Revert rate
5.19% (VVR +3.04%)

 

 

ProductLTVInitial rateTypeProduct feeMax loan
2 years fixed65%3.94%HMO/MUB1.5%£1m
75%4.04%HMO/MUB1.5%£1m
80%5.54%HMO/MUB1.5%£500k
5 year fixed65%4.14%HMO/MUB1.5%£1m
4.54%HMO/MUB Flex1.75% (min £2,495)£1m
4.49%HMO/MUB Fee saver£1,495£650k
75%
4.24%HMO/MUB1.5%£1m
4.64%HMO/MUB Flex1.75% (min £2,495)£1m
4.59%HMO/MUB Fee saver£1,495£750k
80%5.79%HMO/MUB1.5%£500k
6.19%HMO/MUB Flex1.75% (min £2,495)£500k
6.14%HMO/MUB Fee saver£1,495£500k

Fees:

Assessment Fees

A non-refundable £180 is payable on all applications

Fee saver

• £1,495 product fee
• One free valuation for properties valued up to £1m
• £250 contribution towards legal fees paid within 30 days of completion

Flex

• 1.75% (min £2,495) product fee can be added to loan
• Standard valuation fees apply


Additional information:

Minimum loan
£100k

ERCs
• 2 Year 4%, 3%
• 5 Year 5%, 4%, 3%, 3%, 3%
• 5 Year Flex 5%, 5%, 5%

Vida Variable Rate (VVR)
2.15% set on 14.08.20

Revert rate
5.19% (VVR +3.04%)


Expat Range | 2 and 5 year terms

For British Citizens living or working overseas wanting to invest in the UK property market

Available for the purchase or remortgage of single units, HMOs and MUBs and both by individuals and SPV’s

ProductLTVInitial rateTypeProduct feeMax loan
2 years fixed70%3.44%Expat1.5%£1m
75%3.54%Expat1.5%£1m
5 year fixed70%3.64%Expat1.5%£1m
4.04%Expat Flex1.75% (min £2,495)£1m
3.99%Expat Fee saver£1,495£700k
75%
3.74%Expat1.5%£1m
4.14%Expat Flex1.75% (min £2,495)£1m
4.09%Expat Fee Saver£1,495£750k

Fees:

Additional information:

Assessment Fees

 

A non-refundable £180 is payable on all applications

Minimum loan
£100k

Vida Variable Rate (VVR)
2.15% set on 14.08.20

Revert rate
5.19% (VVR +3.04%)

ERC’s

• 2 Year 4%, 3%
• 5 Year 5%, 4%, 3%, 3%, 3%
• 5 Year Flex 5%, 5%, 5%

Fee saver
• £1,495 product fee
• One free valuation for properties valued up to £1m
• £250 contribution towards legal fees paid within 30 days of completion

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