Next Chapter Lending

Next Chapter Lending

At Vida, we’re here to help your clients find a home for every chapter of life — and now we’ve gone even further.

From first-time buyers in their 40s, to mid-life movers in their 50s, to those remortgaging in retirement to keep their plans on track, our enhanced Later Life Lending proposition is designed to help more people find a place to call home. Put simply, it’s lending for the first homes, next homes and later-life plans — giving you the flexibility to support more clients, for longer.

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Lending for the first homes, next homes and later-life plans

At Vida, we’re here to help your clients find a home for every chapter of life. Whether they’re first-time buyers in their 40s, mid-life movers in their 50s, or remortgaging in retirement to maintain the lifestyle they’ve built, our Later Life Lending approach is designed to support them. Put simply, it’s lending for first time, next time and beyond — giving you the flexibility to help a broader range of clients at different stages of their journey.

 

Who is it for?

Whether your client is a first-time buyer in their 40s, a mid-life mover in their 50s, or remortgaging in retirement – your client's next chapter starts here.

Later First Time Buyers

As more borrowers enter the property market in their 40s and 50s, Next Chapter Lending helps provide access to homeownership while offering greater certainty around future affordability and retirement planning.

Mid-life movers

For customers over 50 looking to move into a long-term home, the proposition provides stable borrowing options.

Retirement re-planners

The proposition also supports borrowers in later life who are looking to remortgage, whether to fund home improvements and adaptations, assist family members financially or better manage household costs in retirement.

Key Criteria

We’ve refreshed our criteria for lending into or in retirement to make things simpler, clearer and more transparent when a mortgage extends beyond working life. A case is now considered lending into retirement where the term runs past a customer’s expected retirement age or beyond their 76th birthday. The result is straightforward: clearer rules, fewer grey areas and greater confidence for brokers when placing cases — so you can focus on finding the right solution for your clients.

Download our Criteria Guide

✔ Where an applicant is within 10 years of their retirement age, affordability will use the lower of current income or projected pension income.
✔ Where an applicant is more than 10 years from their retirement age, current income may be used provided the applicant is actively contributing to a pension scheme.
✔ Where 50% or more of the term extends beyond their retirement age, affordability will use the lower of current income or projected pension income.
✔ The mortgage term must end prior to the oldest applicant’s 86th birthday.

Pension Pot Sustainability Calculator

Planning for the next chapter means looking beyond the mortgage. Our Pension Pot Contributions & Sustainability Calculator gives you a clear, simple way to see how pension contributions could support long term affordability — not just now, but over time.

Please complete your client's loan details and then your clients pension details to determine if the pension arrangements are suitable to service the mortgage beyond retirement. If the pension pot is not known, please click the link which will help generate a pension maturity amount based on the current pot size and ongoing monthly contributions.

Your client's loan details

Your client's pension details

If pension pot is not known, please click here to calculate it.

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