Vida launches expat buy-to-let range

Vida Screen Background - with strapline

Vida Homeloans launches new ‘Vida Expat’ Buy to Let product

  • For existing UK property owners living abroad
  • Rates from 3.89% variable (2 year tracker) and 3.99% (2 year fixed)
  • No minimum income required

Vida Homeloans, the specialist mortgage lender for intermediaries, has today announced a new ‘Vida Expat’ Buy-to-Let mortgage range, with criteria designed in partnership with Buy-to-Let brokers and networks working in this specialist sector.

The ‘Vida Expat’ range is targeted at existing UK property owners living abroad who wish to invest in UK Buy-to-Let property. Maximum loan sizes are £1,000,000 for existing UK Buy-to-Let landlords and £500,000 for first time landlords. Maximum LTV is 75% and there is no minimum income requirement or employment restrictions (applicants can be retired).

Vida allows capital raising remortgages for any purpose and will lend on HMOs up to 8 bedrooms and MUBs up to 5 units. Applicants can reside in any country worldwide as long as it is a Financial Action Task Force (FATF) member country.

Louisa Sedgwick, Director of Sales – Mortgages, Vida Homeloans comments:

“We listen to our distribution partners and our new Vida Expat proposition is the latest evidence of our partnership approach to product design. We continue to commit to offer intermediaries innovation and flexibility in securing the best mortgage deal for their client’s needs.”

Stuart Marshall, MD of Liquid Expat Mortgages says:

 “We’ve been impressed by Vida’s responsiveness to market demand and this latest product launch certainly gives them some of the most flexible criteria in the expat sector right now.” 

Coverage of this story in FTAdviser, click here