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Flexible
Lending Criteria
Recent updates
Residential Maximum Age: Before applicant’s 80th Birthday
Lending in or into retirement
Where the following three statements below apply, we can consider lending to age 80 based on current income:
• Applicant is under 50
• is over 10 years from retirement
• is contributing to a pension scheme Additional applicants outside of this can be considered but no income will be used for affordability. The repayment type must be on a capital & interest basis
Maximum term: 45 years (Capital Repayment and Interest Only) subject to our maximum age at term end criteria.
Zero Hours Contracts
Applicants considered where a 12 month year track record of sustainable earningsZero Hours Contracts
Income and employment details will not generally be requested for self funding BTLs .Working Tax Credits
Income and employment details will not generally be requested for self funding BTLs .Working Tax Credits
50% of Working Tax Credit is accepted (not as main source of income) but assessed on individual basis.Wimpey No Fines / Laing Easi Form post 1945 - Non Standard Construction
Wimpey No-Fines houses accepted if constructed after 1946. Laing Easiform house accepted if constructed after 1966.Wimpey No Fines / Laing Easi Form - Non Standard Construction
Wimpey No-Fines houses & Laing Easi Form both accepted if constructed after 1946. Bungalows or Flats are not acceptable regardless of date of construction.Wimpey No Fines / Laing Easi Form - Non Standard Construction
Wimpey No-Fines houses & Laing Easi Form both accepted if constructed after 1946. Bungalows or Flats are not acceptable regardless of date of construction.Widow's Pension
Accepted at 100%Widowed Parent Allowance
Income and employment details are not required.Widowed Parent Allowance
Not acceptableWar Widow(ers) Pension
Income and employment details are not required.War Widow(ers) Pension
Accepted at 100%Voluntary Right to Buy (Housing Association Tenants)
Vida does not currently accept Voluntary Right to BuyVisas: Acceptable Visas
Foreign nationals will need to provide evidence of their right to reside in the UK Those with a permanent right to reside, EU/EAA/Swiss with settled status or Indefinite leave to remain can borrow up to scheme limits Where residency status is evidenced by one of the following, borrowing is available up to 75% LTV with at least 5% of the deposit coming from either savings or inheritance ; • EU/EEA/Swiss with pre-settled status • Family Visa • Tier 1 (Entrepreneur Visa only) • Tier 2 (Skilled Worker) • UK Ancestry Visa • British National (Overseas) Visa • Senior or Specialist Worker visa • Health and Care Worker Visa .Vested Share Income
Income and employment details are not required.Valuers / Valuation Company
EsurvValuation Type / Definition / Criteria
Yes, eSurv will always make a full internal inspection and drive-by or AVM is not acceptableValuation Type / Definition / Criteria
Yes, eSurv will always make a full internal inspectionValuation Appeals
Can consider. Must send a minimum of 3 comparable properties from with a 1 mile radius that have been sold in the last 6 months.Valuation Appeals
Can consider. Must send a minimum of 3 comparable properties that have been sold in the last 6 months.Valuation / Survey Types Available
Valuation for mortgage purposes only. Fee free option available with Fee Saver products on properties valued at up to £1,000,000. Home Buyers Reports and Full Building Surveys are not available through Vida.Valuation / Survey Types Available
Valuation for mortgage purposes only. Fee free option available with Fee Saver products on properties valued at up to £500,000. Home Buyers Reports and Full Building Surveys are not available through Vida.Utility Bills Missed/Late Payments/Arrears
Missed unsecured telecomms and utilities payments are not taken into account when assessing applicant adverse. Utility related defaults and CCJs count towards maximum tier levels.Utility Bills Missed/Late Payments/Arrears
Missed unsecured telecomms and utilities payments are not taken into account when assessing applicant adverse. Utility related defaults and CCJs count towards maximum tier levels.Unsecured Loan Arrears
The maximum allowed in the last 6 months on our whole of market range is £500 combined. In addition, on our Packager Exclusive Tier there is no cap to the maximum amount (£) of missed/ late payments. See Product Guide for full adverse details.Unsecured Loan Arrears
Accepted, up to a maximum of 3 in the last 6 months and up to a combined total of £500. See Product Guide for full details.Universal Credit
Accepted at 50% but must not be main source of income but assessed on individual basisUnencumbered Properties
Acceptable. Treated as a Remortgage. Free legals would not be availableUnderpinned Properties
Properties that have been underpinned in the last 10 years must have a 10 year guarantee warranting the works completed and must be placed with the title deeds. The Valuer must state no sign of new movement. The solicitors to confirm prior to completion that the Building's Insurer's are aware of the problem and willing to cover on normal terms.Underpinned Properties
Properties that have been underpinned in the last 10 years must have a 10 year guarantee warranting the works completed and must be placed with the title deeds. The Valuer must state no sign of new movement. The solicitors to confirm prior to completion that the Building's Insurer's are aware of the problem and willing to cover on normal terms.Underpayment Facility
Vida is unable to consider an underpayment facilityUK Resident / EU Nationals
All UK and EEA applicants applying for a Buy to Let Mortgage must provide at the latest 2 years residential address history in UK. All applicants must provide 3 years address history. A customer with less the latest 2 years' UK residency is acceptable if applying jointly with another principal customer who is a UK or EEA national, satisfies the UK residency requirements and can afford mortgage based solely on their income.UK Resident / EU Nationals
3 years' address history required from Residential applicants and right to reside. All applicants must provide at least the latest years' residential address history in UK.Tyneside Flats / Cross Leases
Vida is unable to lend on Tyneside Flats / Cross LeasesTwo Applicants on Mortgage / One Named on Deeds
Helping Hand is our Joint Borrower Sole Proprietor purchase and remortgage offer (either FTB or home-mover, excludes RTB). Parents (including stepparents and parents of a spouse) and children (including step or adopted), siblings, grandparents, aunts, uncles, cousins and nieces/nephews assisting each other to buy or remortgage a home by joining the mortgage without going on the title deeds. All incomes considered in affordability subject to usual rules.Tronc (Tips) income
Vida Homeloans can accept applicants which receive tronc payments (tips) when assessing affordability as long as they can be evidenced on payslips and there is sufficient track record. Tronc (Tips) income is accepted at 75%.Travel Costs / Rail Cards / Travel Season Tickets
Income and employment details are not required.Travel Costs / Rail Cards / Travel Season Tickets
Travel costs will be considered in the assessment of affordability.Timber Framed - Non Standard Construction
Timber frame acceptable with a brick or 'block and rendered' outer frame.Timber Framed - Non Standard Construction
Timber frame acceptable with a brick or 'block and rendered' outer frame.Third Party Income (Spouse, Partner, Parent etc.) not Named on Mortgage
Income and employment details are not required.Third Party Income (Spouse, Partner, Parent etc.) not Named on Mortgage
Only as Court Ordered Maintenance.Tenure
Freehold & Leasehold are both acceptable. For Capital & Interest loans minimum of 40 years lease remaining at the end of the term. For Interest Only, there must be 70 years remaining at the end of the term.Tenure
Freehold & Leasehold are both Acceptable For Capital & Interest loans minimum of 40 years lease remaining. Interest Only, 70 years remaining.Tenancy / Letting to Government/ Housing Association / DSS
Non-Assured Shorthold Tenancy Agreements are Acceptable. Require sight of all corporate letting agreements which are then referred to our solicitors for consideration. DSS tenants acceptable.Tenancy - Letting to Housing Benefit / DSS Tenants
Tenancies to individuals supported by Housing Benefits are acceptable. DSS accepted.TENANCY - LETTING TO HOUSING ASSOCIATION / LOCAL AUTHORITY/DSS
Accepted where letting requirement is not be overly complex and have a maximum 5 year duration of the head tenancy, with a break clause. Sub letting must be permissable and not have the potential to become a secured tenancy.DSS tenants acceptable.Tenancy - Letting to a Housing Association / Local Authority
Accepted. Will however require sight of the Corporate Letting Agreement in order to consider fullyTemporary Work / Employment
Income and employment details are not required.Temporary Work / Employment
Applicants considered where a 2 year track record of sustainable earningsTeachers / Supply Teachers
Income and employment details are not required.Teachers / Supply Teachers
Treated as a Standard Employment for permanent employed Teachers. Can consider Supply Teachers with a long track record. Teachers and Lecturers employed in the public sector may be eligible for our Key Worker Scheme with up to 6x Loan to Income available.Sub-Sales and Reassignment of Sale Contracts
This is not currently offered by Vida HomeloansSubcontractors
Acceptable. Day 1 contractors considered with a minimum of 1-years track record of employment within the same line of work. Minimum 3 months remaining on current contract. Where paid via an umbrella company or where employer pays both tax and NI, income verified via last 3 months' payslips and most recent P60 if applicable. Applicants working in construction under Construction Industry Scheme (CIS) will be treated as self-employed [see CIS Contractors for details].Subcontractors
Income and employment details will not generally be requested for self funding BTLs .Sub Letting
Considered at underwriter discretion. The letting requirement must not be overly complex and have a maximum 5 year duration of the head tenancy, with a break clause.Studio Flats / Apartments
Acceptable. Must be more than 30 SqM internal, 35 SqM externalStudio Flats / Apartments
Acceptable. Must be more than 35 square metres.Student Loans
Student Loans are taken into consideration for Affordability Assessment.Student Loans
Taken into consideration for Affordability Assessment if income is being used.Student Lets
Student lets: students can either be on individual AST's or jointly and severally liable for the rent. It is acceptable for a family member to be one of the occupants of a Student Let. Family members must not reside in the property, unless full time students occupying less than 40%. To be let out on AST only.Stocks & Shares as an Interest Only Repayment Vehicle
Acceptable. Stocks, Shares, ISA or other liquid investment. Declaration Form will be required clearly setting out the repayment strategy and amount(s) to be used.Stipend
Stipend is not taken into consideration for income by Vida HomeloansSteel Framed - Non Standard Construction
Acceptable as long as post-2000 construction.Steel Framed - Non Standard Construction
Acceptable as long as post-2000 construction.State Pension Income
Not accepted. Applicants' who are already Retired and in receipt of State Pension income are accepted where term end is before their 80th Birthday but their income can not be used for the affordability assessment.State Pension Income
Income and employment details are not required.Starter Homes Scheme
Starter Home Initiative not availableStarter Home Initiative
This is not currently offered by Vida HomeloansSPVs / Business Classification SIC Codes Limited Company Lending
SPV's must have one of the following SIC Codes: 68100 Buying and selling of own real estate‚ 68209 Other letting and operating of own or leased real estate‚ 68320 Management of real estate on a free or contract basis‚ 68201 Renting and operating of Housing Association real estate . SPV must be registered in England, Wales or Scotland.Spousal Maintenance
Income and employment details are not required.Splitting of Title Deed
May consider. Please Refer.Special Duties Allowance
Income and employment details are not required.Special Duties Allowance
Yes, providing it is available throughout the mortgage termSolicitors / Conveyancers
Yes providing the solicitor is on our panel. Visit Conveyancing to see our Conveyancer panel.Solicitors / Conveyancers
Yes providing the solicitor is on our panel. Visit Conveyancing to see our Conveyancer panel.Sole Trader to a Limited Company - Change of Trading Status
Agreed subject to individual cases assessment. We will consider lending to Special Purpose Vehicles for the purpose of property investment – trading limited company lending is not permitted.Sole Trader to a Limited Company - Change of Trading Status
Agreed subject to individual case assessmentSolar Panels
Consent to lease of roof space is considered for the installation of solar panelsSoft Footprint at AIP/DIP Stage
Yes, soft foot print onlyShortfall in Rental Calculation / Top Slicing / Personal Income Affordability
All BTLs need to be self funding. Top slicing not currently availableShort Term Renewable Contracts
Income and employment details are not required.Short Term Renewable Contracts
Day 1 contractors considered with a minimum of 1-years track record of employment within the same line of work. Minimum 3 months remaining on current contract.Shift Allowance / Unsociable Hours
Income and employment details are not required.Shift Allowance / Unsociable Hours
100% of Shift Allowance or Unsociable House payment is accepted.Sheltered Accommodation / Retirement Housing
This is not currently offered by Vida HomeloansShared Ownership Remortgage Staircasing
Shared Ownership schemes not availableShared Equity Remortgage Staircasing
This is not currently offered by Vida HomeloansShared Equity
This is not currently offered by Vida HomeloansServiced Flat / Apartment
This is acceptable for a residential application onlyService / Ground Rent / Maintenance Costs
Income and employment details are not required.Self Employed - Validity of Accounts
Accounts must be no more than 12 months old before the date of application. Where proof of income is more than 12 months old we will also require an accountants certificate verifying thatthere are no material changes in revenue, expenditure, salary and dividends. If Accountants certificate is not available, personal and business bank statements are required for review by underwriter. If the latest proof of income is older than 12 months (but no more than 18 months old), the latest 3 months Personal and Business Bank Statements will also need to be supplied.Self Employed - Validity of Accounts
Income and employment details are not required.Self Employed - Umbrella Companies
Acceptable to be paid via an umbrella company, which pays tax and NI for the applicant. Income verified via last 3 months payslips and most recent P60 if applicable or by way of contract x 48 weeksSelf Employed - Umbrella Companies
All BTL’s need to be self funding. Income details are not required.Self Employed - Trading History / Years Accounts
Sole Trader, LLP or Partnership: If trading for more than 24 months we will require latest 2 years evidence of income. If trading for less than 24 months, we will require 1 years evidence of income along with a projection for current year from a suitable qualified accountant OR latest 3 months business bank statements. Limited Company Director: We can use Net profit where the applicant(s) own 100% of the shareholding. Otherwise we will look at salary plus dividends. If trading for less than 24 months, we can only take salary plus dividends. CIS Contractor: CIS workers to provide their latest 1 yearSA302 and Tax Year Overview and last 3 months payslips /invoices; OR the latest 12 months CIS payslips / invoices. If the latest proof of income is older than 12 months (but no more than 18 months old), the latest 3 months Personal and Business Bank Statements will also need to be supplied.Self Employed - Trading History / Years Accounts
Income and employment details will not generally be requested for self funding BTLs .Self Employed - Sole Trader, LLP or Partnership
If trading for more than 24 months we will require latest 2 years evidence of income. If trading for less than 24 months, we will require 1 years evidence of income along with a projection for current year from a suitable qualified accountant OR latest 3 months business bank statements. If the latest proof of income is older than 12 months (but no more than 18 months old), the latest 3 months Personal and Business Bank Statements will also need to be supplied.Self Employed - Sole Trader
Income and employment details will not generally be requested for self funding BTLs .Self Employed - Retained Profit in Company
We will consider retained profit as a source of deposit however, it cannot be used as income towards affordability.Self Employed - Retained Profit in Company
Income and employment details will not generally be requested for self funding BTLs .Self Employed - Partnerships
Income and employment details will not generally be requested for self funding BTLs .Self Employed - Limited Liability Partnerships / LLP's
Income and employment details will not generally be requested for self funding BTLs .Self Employed - Director / Percentage Share of Business
Once an applicant reaches a 25% shareholding they will be considered self employedSelf Employed - Director / Percentage Share of Business
Once an applicant reaches a 25% shareholding they will be considered self employedSelf Employed - Director / Limited Company
Once an applicant reaches a 25% shareholding they will be considered self employedSelf Employed - Director / Limited Company
Treated as self employed when owning 25% or more of the shares. For joint applicants who are shareholders in the same company, the 25% relates to the combined shareholding. Affordability based upon dividends + remuneration, or net profit where applicants own 100% of the companySelf Employed - Declining Profits
Where stable or increasing profits we would usually use the latest year's figures. Where the previous 2 years shows a significant variance we may request information from prior years to enable a better view of the trend to be established.Self Employed - Declining Profits
Income and employment details will not generally be requested for self funding BTLs .Self Employed - Assessment of Accounts for Affordability
Income and employment details will not generally be requested for self funding BTLs .Self Employed - 1 Years Accounts
Income and employment details will not generally be requested for self funding BTLs .SELF EMPLOYED
Income and employment details are not required.Self Build / Custom Build
Vida will consider lending where the self build has been completed and covered by a suitable 10 year warranty.Second Job / Additional Employment
Income and employment details are not required.Second Job / Additional Employment
Up to 100% of income from second jobs accepted, providing a 3 month record can be demonstrated.Second Home / Property / Pied a Terre
This is not currently offered by Vida HomeloansSeasonal Employment
Income and employment details are not required.Seasonal Employment
This is not currently offered by Vida HomeloansScottish First Home Fund Scheme (SFHFS)
This is not currently offered by Vida HomeloansSchool Fees
School fees will be considered in the assessment of affordability.Sale of Foreign Property/Assets as an Interest Only Repayment Vehicle
This is not currently offered by Vida HomeloansRight To Buy / Right To Acquire
Available on purchase only applications from Local Authorities for Right to Buy and from Housing Associations for Right to Acquire. Available up to lower of 100% of discounted purchase price or 75% of the open market value. We will need to see:- Section 125 or RTA 3 from the Local Authority/Housing Association - Last 12 months rental payments. Any missed rental payments will be treated as missed mortgage payments for tier allocation
Retirement Interest Only (RIO) Mortgages
This is not currently offered by Vida HomeloansRetentions Full / Partial
Partial retentions not acceptable. Assessed on current valuation. Full retentions are required where substantial work is necessary on the subject propertyRetentions Full / Partial
Partial retentions not acceptable. Assessed on current valuation. Full retentions are required where substantial work is necessary on the subject propertyRetained / Additional Properties in the Background - Non Professional Landlords
Acceptable. Full property details will need to be supplied at application for considerationRestrictive Covenants
This is not currently offered by Vida HomeloansResidential Mortgage in the Background / To Remain
Considered. Prior to completion, applicants will need to provide a mortgage offer for their onwards residential purchase. The Remortgage and Purchase must complete simultaneously.Residency
3 years' address history required from all applicants. All UK and EEA applicants applying for a Buy to Let Mortgage must provide the latest 2 years' residential address history in UK. All Non EEA nationals must have been resident in the UK for the latest 2 years and have permanent right to reside. A customer with less than the latest 2 years' UK residency is acceptable if applying jointly with another principal customer who is a UK or EEA national‚ satisfies the UK residency requirements and can afford mortgage based solely on their income.Residency
3 years' address history required from Residential applicants and right to reside. All applicants must provide at least the latest years' residential address history in UK.Requirement to be a Homeowner / Owner Occupier
First Time Buyers accepted. There is no requirement to be an existing home owner.Rental Income as Sole/Additional Declared Income
Income and employment details are not required.Rental Income as Sole/Additional Declared Income
100% Accepted as long as supported by SA302 & Tax Year Overview, accountants certificate or financial accountsRental Income as Additional Declared Income
Income and employment details are not required.Rental Calculation / Stress Test / Interest Cover Ratio (ICR)
ICR at 125% for Basic Rate taxpayers and SPV's. 140% for Higher Rate taxpayersRent Arrears
Considered subject to maximum overall restrictions on adverse credit - see full credit status on website product guides.Rent Arrears
Considered subject to maximum overal restrictions on adverse credit - see full credit status on website product guides.Remortgage from Bridging Finance/Loan
Acceptable if over 6 months ago. If less than 6 months ago, we allow remortgaging from bridging finance provided by other lenders including the roll up of interest and lender fees only. Capital raising is not accepted in this time period. Repayment of a private bridge is not permitted.Remortgage from Bridging Finance/Loan
Acceptable. We allow remortgaging from bridging finance provided by other lenders including the roll up of interest and lender fees. Capital raising is not accepted.Remortgage Capital Raising Purposes
Remortgage allowed for any legal purpose. Debt consolidation available up to 85% LTV. Capital Raising excludes business purposes, speculative investments, gambling debts and purchase of time share.Remortgage Capital Raising Purposes
Remortgage allowed for any legal purpose. Capital Raising excludes speculative investments, gambling debts and purchase of time share.Remortgage Applications
Remortgage allowed for any legal purpose and up to scheme limits. Excludes business purposes, speculative investments, Gambling Debts and the purchase of time shareRemortgage Applications
Remortgage allowed for any legal purpose and up to scheme limits. Excludes business purposes, speculative investments, Gambling Debts and the purchase of time shareRemortgage - Transfer of Equity
Acceptable. Solicitor will be required to confirm details of the transferRemortgage - Transfer of Equity
Acceptable. Solicitor will be required to confirm details of the transferRemortgage - Rental Calculation Pound for Pound
Rental income must meet our interest coverage requirements for the advance requestedRe-inspection Fees - New Build
No, Vida will charge a re-valuation fee of £120 where a re-inspection is required prior to the release of moniesRe-inspection Fees - New Build
No, Vida will charge a re-valuation fee of £120 where a re-inspection is required prior to the release of moniesRegulated Buy To Let / BTL
This is not currently offered by Vida HomeloansRegulated Buy To Let / BTL
Family members must not reside in the property, unless full time students occupying less than 40%. To be let out on AST only.Reduced Income for a Defined Period
Income and employment details are not required.Reduced Earnings Allowance
Income and employment details are not required.Reduced Earnings Allowance
Reduced Earnings Allownace is not taken into consideration for income by Vida HomeloansPurchase of Adjoining Property
Yes but both properties must be single dwelling units and there can be no shared services other than a cesspitPurchase of Adjoining Property
Yes but both properties must be single dwelling units and there can be no shared services other than a cesspitPurchase from Own/Family's Limited Company
This is not currently offered by Vida HomeloansPurchase from a Limited Company
Vida will not accept property which is being bought from customers own limited companyPurchase from a Limited Company
Vida can accept a purchase application from a limited companyPurchase for Family Member
This is not currently offered by Vida HomeloansPurchase for Family Member
Family members must not reside in the property, unless full time students occupying less than 40%. To be let out on AST only.Purchase Application
Acceptable. Up to 85% LTV. See Criteria Category for LTV's for more information.Property with Shared Access / Shared Services
Vida Homeloans can potentially consider a property with shared access, subject to valuer recommendations and solicitor's endorsement. However, Vida Homeloans will not consider a property with shared services except a septic tank.Property with Shared Access / Shared Services
Vida Homeloans can potentially consider a property with shared access, subject to valuer recommendations and solicitor's endorsement. However, Vida Homeloans will not consider a property with shared services except a septic tank.Property with Outbuildings
Areas up to three acres acceptable, more can be considered on a case by case basis. Must be wholly for residential use, private paddocks and stables acceptable but not farms and smallholdings. Agricultural or similar restrictions not acceptable.Property with Outbuildings
Areas up to three acres acceptable, more can be considered on a case by case basis. Must be wholly for residential use, private paddocks and stables acceptable but not farms and smallholdings. Agricultural or similar restrictions not acceptable.Property with Land / Acreage
Areas up to three acres acceptable, more can be considered on a case by case basis. Must be wholly for residential use, private paddocks and stables acceptable but not farms and smallholdings. Agricultural or similar restrictions not acceptable.Property with Land / Acreage
Areas up to three acres acceptable, more can be considered on a case by case basis. Must be wholly for residential use, private paddocks and stables acceptable but not farms and smallholdings. Agricultural or similar restrictions not acceptable.Property with an Annex
Properties with annexes are acceptable with or without shared services provided the annex is used for residential purposes. One annex only, which should be occupied as ancillary accommodation to the main property under the same AST i.e. no separate letting.Property owned for less than 6 months by Vendor
Vida cannot consider a property owned for less than 6 months by Vendor. (The property must be registred under the owners name at Land Registry for a minimum of 6 Months)Property owned for less than 6 months by Vendor
Not accepted. The owner must have been registered longer than 6 monthsProperty Management / Letting Agent/Agency
No requirement for a management Agent to be appointed. Vida accept Applicants who self-manage their propertiesProperty Condition / Minimum Requirements
Must be habitable in it's current condition and subject to Valuer's comments.Property Condition / Minimum Requirements
Must be habitable in it's current condition. Subject to Valuer's comments.Property close to / on Landfill
Vida cannot accept as suitable securityProperty close to / on Landfill
Vida cannot accept as suitable securityProperty affected by Subsidence
Vida cannot accept as suitable securityProperty affected by Subsidence
Vida cannot accept as suitable securityProperty affected by Mining / Close to Mineshaft
Vida can potentially consider lending on properties that are close to a mine shaft subject to valuation and appropriate legal checks.Property affected by Mining / Close to Mineshaft
Vida can potentially consider lending on properties that are close to a mine shaft subject to valuation and appropriate legal checks.Property affected by Contamination
Vida cannot accept as suitable securityProperty affected by Contamination
Vida cannot accept as suitable securityProperty / Investment Clubs
Purchases and remortgages involving a Property Investment Club will not be considered.Property / Investment Clubs
Purchases and remortgages involving a Property Investment Club will not be considered.Properties close to Commercial Outlets
Accepted up to 75% LTV. Properties situated next to restaurants, takeaways, dry cleaners, hairdressers, laundrettes, tattoo, piercing, nail parlours, public houses, petrol stations have a maximum LTV of 60%.subject to valuers comments on mortgageability and saleability.Properties close to Commercial Outlets
Accepted up to 75% LTV. Properties situated next to restaurants, takeaways, dry cleaners, hairdressers, laundrettes, tattoo, piercing, nail parlours, public houses, petrol stations have a maximum LTV of 60%.subject to valuers comments on mortgageability and saleability.Proof of Residential / Address ID
Electronic identification will be used to identify an applicant(s) against a variety of public databases. If the applicant(s) is not found or does not pass the electronic ID verification process, proof of identity & residency as appropriate will be required. EID used, but where required we may need the following: Utility bill dated within the last 3 months (internet statements will be considered), Bank/credit card statements showing full name and address (internet statements will be considered)‚ Latest Council Tax bill, HM Revenue & Customs correspondence - relating to current tax year‚ Latest Mortgage Statement (internet statements not acceptable)Proof of Residential / Address ID
Satisfactory proof of residency covering a minimum 2 year period is always required. Electronic Identification (EID) is used. However ,if the applicant is not found or does not pass the EID verification process, proof of identity and residency will be required as appropriate:- valid UK driving licence, utility bill dated within the last 3 months (internet statements considered)‚ bank / credit card statements showing full name and address (internet statements considered), latest council tax bill, HM Revenue & Customs correspondence - relating to current tax year, latest mortgage statement (internet statements not acceptable).Proof of Personal / Photographic ID
Electronic identification (EID) will be used to identify applicants. If applicants is not found or does not pass the EID verification process, proof of identity: Valid UK Passport, Valid UK Driving Licence‚ Valid Non-UK Passport or National ID Card, HM Forces / Police Warrant Card, UK Firearms certificate or shotgun licenceProof of Personal / Photographic ID
Electronic identification (EID) will be used to identify applicants. If applicants is not found or does not pass the EID verification process, proof of identity: Valid UK Passport, Valid UK Driving Licence‚ Valid Non-UK Passport or National ID Card, HM Forces / Police Warrant Card, UK Firearms certificate or shotgun licenceProof of Deposit
Required in any purchase where the deposit is NOT being funded by use of equity release from the sale of the customer's current property.Proof of Deposit
Required in any purchase where the deposit is NOT being funded by use of equity release from the sale of the customer's current propertyProfessions / Professional Specialist Range / Criteria
Income and employment details are not required.Professions / Professional Specialist Range / Criteria
No specialist criteria, treated as any other applicant.Professional Sports People
Income and employment details are not required.Professional Sports People
Accepted but each case considered on its individual merit.Professional Landlords
Maximum 20 properties up to a maximum portfolio of £4,000,000 with Vida. No limit on total properties in overall portfolio. If landlord's whole portfolio is four or more properties (regardless of Lender), average maximum LTV is 80%Professional Landlords
Yes and will be treated as Self Employed.Product Transfer / Rate Switch / Customer Retention
Yes we offer Product Switch. If the clients introductory rate has already expired, or is due to expire within the next 6 months, they are eligible to switch to a new product providing they meet the following criteria: They are up to date with payments and must have not missed a payment within the last 3 months. This must be true both when they accept the offer, and on the switch date. Their remaining mortgage term must be greater than the fixed period of your new product + 6 months. For example, they must have at least 2 years and 7 months left on their current mortgage term to be eligible for a 2 year fixed product. Product Switch offer needs to be accepted within the first 20 days of the month for the new rate to become effective on the 1st day of the following month. Otherwise it will become effective a full month later, on the 1st day of the next month.Product Transfer / Rate Switch / Customer Retention
Yes we offer Product Switch. If the clients introductory rate has already expired, or is due to expire within the next 6 months, they are eligible to switch to a new product providing they meet the following criteria: They are up to date with payments and must have not missed a payment within the last 3 months. This must be true both when they accept the offer, and on the switch date. Their remaining mortgage term must be greater than the fixed period of your new product + 6 months. For example, they must have at least 2 years and 7 months left on their current mortgage term to be eligible for a 2 year fixed product. Product Switch offer needs to be accepted within the first 20 days of the month for the new rate to become effective on the 1st day of the following month. Otherwise it will become effective a full month later, on the 1st day of the next month.Product Split on same Mortgage
This is not currently offered by Vida HomeloansProbationary Period
Income and employment details are not required.Probationary Period
Yes, this can be considered subject to the underwriter's discretion.Private Pension Income
Accepted at 100% where applicant is currently employed or self-employed. Where applicant is already Retired no income for that applicant will be used for the affordability assessment.Private Pension Income
Not accepted. Applicants' who are already Retired and in receipt of State Pension are accepted on the basis the term end is before their 80th Birthday and their income is not to be used as part of the affordability assessment.Price Work
We will consider Price Work in exceptional circumstances, subject to at least 1 year's track record and suitable evidence of earnings.Pre Reinforced Concrete / PRC - Non Standard Construction
This is not currently offered by Vida HomeloansPre Reinforced Concrete / PRC - Non Standard Construction
Will not accept property constructed using concrete Large Panel System (LPS).Postcode / Location Acceptable Areas for Lending
England, Wales and the following postcodes in Scotland; AB (excluding 36-38, 55), DD, DG (excluding 13, 14, 16), EH, FK (excluding 18-21), G, IV (excluding 4, 13, 21-23, 26, 27, 29, 33-35, 37-63), KA (excluding 27, 28), KW (excluding 1-7, 11+) KY, ML, PA (excluding 20-80), PH (excluding 20-42) and TD (excluding 3, 5-12).Postcode / Location Acceptable Areas for Lending
England, Wales and the following postcodes in Scotland; AB (excluding 36-38, 55), DD, DG (excluding 13, 14, 16), EH, FK (excluding 18-21), G, IV (excluding 4, 13, 21-23, 26, 27, 29, 33-35, 37-63), KA (excluding 27, 28), KW (excluding 1-7, 11+) KY, ML, PA (excluding 20-80), PH (excluding 20-42) and TD (excluding 3, 5-12).Portfolio Landlords - Up to 4 BTL Properties with other Lenders
Accepted - no restriction of total portfolio size. Up to 20 (max £4m) can be with VidaPortfolio Landlords - Unlimited BTL Properties with other Lenders
Accepted - no restriction of total portfolio size. Up to 20 (max £4m) can be with VidaPortfolio Landlords - Specific Scheme
No, portfolio landlords access the same product range as individual unit landlordsPortfolio Landlords - Rental Assessment of Background Properties
Vida will only apply rental assessment to portfolio properties with Vida. This is at the same rate as for individual properties ie 125% at 5.5% or 5% for pound for pound remortgage. For the wider (non - Vida) portfolio we will simply assess rental income compared to the mortgage payment but will be looking to see how any properties with < 125% is mitigated through the Portfolio as a wholePortfolio Landlords - Remortgage Capital Raising to pay a Tax Bill
Yes, accepted. no different for a portfolio landlord or non-portfolio landlordPortfolio Landlords - Remortgage Capital Raising for Business Purposes
Yes - capital raising for portfolio landlords is no different to capital raising for non portfolio landlords. Accepted for any legal purposes.Portfolio Landlords - Remortgage Capital Raising
Portfolio landlords can remortgage with Vida up to the maximum of 20 properties and £4,000,000. Max LTV across wider portfolio of 80%Portfolio Landlords - Remortgage
Average LTV across wider portfolio must be no greater than 80%Portfolio Landlords - Purchase Application
Portfolio landlords can hold up to 20 mortgaged properties with Vida and up to £4,000,000. Max LTV across wider portfolio of 80%Portfolio Landlords - Number of BTL Properties with other Lenders
There is no restriction on total portfolio size with other lenders.Average LTV must be no more than 80% across the portfolioPortfolio Landlords - Minimum Income
No minimum income required. Affordability is based upon rental income per propertyPortfolio Landlords - Maximum Number of Properties
No overall portfolio limit. Maximum of 20 properties and £4,000,000 with VidaPortfolio Landlords - Maximum Number of BTL Properties with Lender
Maximum of 20 properties with a maximum portfolio of £4m with Vida.Portfolio Landlords - Maximum Loan Amount / Lending / Borrowing
Vida will lend against a maximum of 20 properties and up to a maximum of £4m. No limit on total portfolio size and no restriction on the total amount being borrowed by the portfolio landlordPortfolio Landlords - eTech Buy to Let Hub
Yes, Vida uses eTech's Buy to Let HubPortfolio Landlords - Documents Required
Vida will require an existing property portfolio spreadsheet and Business plan for each application. Both of these forms are downloadable from Vida website. Brokers can upload their existing portfolio spreadsheet providing it contains the relevant information. On rare occasions the underwriter might also request a cashflow forecast and/or an Asset and Liability statementPortfolio Landlords - Cash Flow Statement / Forecast
A Cash Flow Statement and/ or an Assets & Liabilities Statement can be requested at the underwriter’s discretion on any BTL application.Portfolio Landlords - Business Plan
Business plan required on al portfolio landlord applications.Portfolio Landlords - Assets and Liabilities Statement
A Cash Flow Statement and/ or an Assets & Liabilities Statement can be requested at the underwriter’s discretion on any BTL application.Portfolio Landlords - Applications Accepted From
Vida defines a portfolio landlord as one with 4 mortgaged BTL properties prior to applicationPortfolio Landlords - Additional Underwriting Checks
All Portfolio Landlords will need to complete a Business Plan and on occasion and at underwriter discretion, may be asked to provide a Cashflow Statement and an Asset and Liability Statement.Portfolio Landlords - 5 to 10 BTL Properties with other Lenders
Accepted - no restriction of total portfolio size. Up to 20 (max £4m) can be with VidaPortfolio Landlords - 11 to 50 BTL Properties with other Lenders
Accepted - no restriction of total portfolio size. Up to 20 (max £4m) can be with VidaPortfolio Landlord - Definition of
Someone who has 4 or more mortgaged BTL properties at application Up to 80% LTV average across portfolio. £4m max loans on up to 20 proerties with Vida. No limit on overall portfolio sizePortfolio
Up to 20 properties with a maximum portfolio of £4,000,000 with Vida. No limit on overall portfolio size. If landlord's whole portfolio is four or more properties (regardless of lender), average LTV must be no more than 80%.PO Box Address for Ex Pats
If the only available overseas address is a PO Box number, this will be acceptable where supported by confirmation from their employer via proof of address template and last 3 months payslips showing the salary credit into the bank accountPO Box Address for Ex Pats
If the only available overseas address is a PO Box number, this will be acceptable where supported by confirmation from theiremployer via proof of address template and last 3 months payslips showing the salary credit into the bank accountPlanning Permissions
This is not currently offered by Vida HomeloansPiece Work / Piece Workers
Income and employment details are not required.Piece Work / Piece Workers
We will consider Piece Work in exceptional circumstances, subject to at least 1 year's track record and suitable evidence of earnings.Personal Independence Payment / PIP
Income and employment details are not required.Personal Independence Payment / PIP
Accepted at 50% but assessed on individual basisPersonal Finance for Business Purposes
This is not currently offered by Vida HomeloansPermanent Health Insurance / PHI
Income and employment details are not required.Permanent Health Insurance / PHI
Permanent Health Insurance payments are not taken into consideration for income by Vida HomeloansPeriod Properties / Non Standard Construction
Timber framed properties constructed pre 1950 are only acceptable if considered a "period property" subject to valuers comments.Period Properties / Non Standard Construction
Timber framed properties constructed pre 1950 are only acceptable if considered a "period property" subject to valuers comments.Pension Contributions
Income and employment details are not required.Pension Contributions
Pension contributions will be ignored in the assessment of affordability unless they are deemed excessive.Pension as an Interest Only Repayment Vehicle
Acceptable. Pension (Personal, Executive or Employed pension plan). Declaration Form will be required clearly setting out the repayment strategy and amount(s) to be used.Payslips / Wageslips
Hand-written document and online payslips will be accepted with the corresponding bank statement to show the salary credit being made to the customer.Payslips / Wage slips
Hand-written document and online payslips will be accepted with the corresponding bank statement to show the salary credit being made to the customer.Payday Loans
All payday loans must have been repaid upon completion and on underwriter discretion that there is no continued need for the ongoing use of payday loans.Payday Loans
Can be considered however assessed for frequency on a case by case basisPartner/2nd Applicant - With No Income
Yes, this would be consideredPartner/2nd Applicant - With No Income
AcceptedPart Repayment & Part Interest Only
This is not currently offered by Vida HomeloansOvertime
Income and employment details are not requiredOvertime
Accepted at 75% and evidenced by last 3 month's payslips and last P60Overpayment Facility
Where ERCs exist, up to 10% in any rolling 12-month period. As no ERCs on variable products there is no restriction on overpayments.Overpayment Facility
"Pension contributions will be ignored in the assessment of affordability unless they are deemed excessive. Where lending into retirement and applicants income is required for the affordability assessment evidence of Pension Contributions will be required."Over-indebtedness / Debt to Income Ratio
Vida does not use Debt to income ratios. All applications must pass affordabilityOver-indebtedness / Debt to Income Ratio
Vida does not use Debt to income ratios. All applications must pass affordabilityOver 55 Buy To Let Equity Release - Unacceptable Equity Release Purposes
Not applicableOver 55 Buy To Let Equity Release - No Negative Equity Guarantee
Not applicableOver 55 Buy To Let Equity Release - Fixed interest rate for the life of the loan
Not applicableOther Income
Acceptable at 100%: regular monthly, quarterly or annual bonuses supported by P60 and payslips; Income from trust funds; rental profit; investment income supported by SA302; occupational pension income (including war widows/disablement or widowers pensions); second and other jobs providing 3 months' record; car allowance; shift allowance; London/large town allowance; housing allowance (provided by an employer); mortgage subsidy; payments from armed forces compensation scheme; lodger income (for remortgages); foster care income; child tax credit; child benefit; guardian's allowance. Acceptable at 75%: overtime or commission regular or monthly supported by P60 and relevant payslips. Acceptable at 50%: (not as main source of income) Disability Living Allowance (DLA) / Carer’s Allowance / Industrial Injuries Disablement Benefit (IIDB) / Personal Independence Payment (PIP) / Employment and Support Allowance (ESA) - Income and Contribution / Incapacity Benefit / Armed Forces Independence Payment / Universal Credit / Working Family Tax CreditsOther Income
Income and employment details will not generally be requested for self funding BTLs .Off Plan New Build Houses / Apartments
Properties in the course of construction or Off Plan will be considered on a 'finished basis' valuation with full retention of monies until the property is ready for completionOff Plan New Build Houses / Apartments
Properties in the course of construction or Off Plan will be considered on a 'finished basis' valuation with full retention of monies until the property is ready for completionOccupancy
With the exception of our Helping Hand proposition, all applicants must reside in the security property. Helping Hand is our Joint Borrower Sole Proprietor purchase and remortgage offer (either FTB or home-mover, excludes RTB). Parents (including stepparents and parents of a spouse) and children (including step or adopted), siblings, grandparents, aunts, uncles, cousins and nieces/nephews assisting each other to buy or remortgage a home by joining the mortgage without going on the title deeds. All incomes considered in affordability subject to usual rules.Occupancy
Family members must not reside in the property, unless full time students occupying less than 40%. To be let out on AST only.Nursing Bank / Nurses
Treated as employed applicants and accepted at 100%. Keyworker range is available, offering up to 6x Loan To income for all applicants.Nursing Bank / Nurses
Income and employment details will not generally be requested for self funding BTLs .Number of Floors / Storeys / High Rise
There is no restriction on the maximum number of floors / storeys. High rise flats and those without a lift are subject to valuers comments on mortgagability and saleability.Number of Floors / Storeys / High Rise
There is no restriction on the maximum number of storeys. High rise flats and those without a lift are acceptable subject to valuers comments on mortgagability and saleability.Non UK Tax Payer / Non Domicile
Acceptable and assessed on individual basisNon UK Tax Payer / Non Domicile
No, all applicants must be liable to pay UK taxNon UK / EU / EEA Foreign Nationals
Accepted. Buy to Let applicants must provide 3 years address history showing the latest 2 years continuous UK residency. Foreign nationals must in addition provide evidence of their permanent right to reside in the UK.Non UK / EU / EEA Foreign Nationals
Foreign nationals will need to provide evidence of their right to reside in the UK Those with a permanent right to reside, EU/EAA/Swiss with settled status or Indefinite leave to remain can borrow up to scheme limits Where residency status is evidenced by one of the following, borrowing is available up to 75% LTV with at least 5% of the deposit coming from either savings or inheritance ; • EU/EEA/Swiss with pre-settled status • Family Visa • Tier 1 (Entrepreneur Visa only) • Tier 2 (Skilled Worker) • UK Ancestry Visa • British National (Overseas) Visa • Senior or Specialist Worker visa • Health and Care Worker VisaNon Standard Construction
Vida will consider a wide range of properties with non standard construction. Please contact the V-Hub on 03300 246 246 to discuss the case in more detail.Non Standard Construction
We will consider Non-Standard Construction properties in some instances; please contact us by telephone to discuss the case in more detail.Non Simultaneous / Staggered Sale & Completion
Acceptable as long as income can cover both mortgages.Non Borrowing Occupiers
Acceptable with each occupier over the age of 17 to sign a witnessed Declaration following independent legal adviceNHS Fleet Solutions / Car Scheme / Salary Sacrifice
Income and employment details are not required.NHS Fleet Solutions / Car Scheme / Salary Sacrifice
Vida would take this into consideration for affordability assessmentNew Build/Builder Sales Incentives
Accepted providing incentive does not exceed 5% and confirmation is received from the vendor/builder, confirming monetary value. Maximum 5% of the total amount of the Incentives as declared on the UK Finance Disclosure Form. Can be split i.e. 2.5% Builder Gifted Deposit and 2.5% Cash or other incentives.New Build/Builder Sales Incentives
Accepted providing incentive does not exceed 5% and confirmation is received from the vendor/builder to confirm monetary value. Maximum 5% of the total amount of the Incentives as declared on the CML Form which can be split i.e. 2.5% Builder Gifted Deposit and 2.5% Cash or other incentives.New Build Warranties / Warranty Providers
Must hold an acceptable warranty from one of the following (not exhaustive): Advantage/Advantage HCI‚ Aedis Warranties Limited‚ Ark Insurance Group Limited-Latent Defects Insurance‚ Build Assure‚ Build Life Plans‚ Build Zone, Castle 10 (Checkmate)‚ Global Home Warranties Limited‚ ICW, LABC‚ NHBC Certificates, Premier Guarantee‚ Protek‚ Q Assure Build Limited‚ Zurich Municipal PolicyNew Build Warranties / Warranty Providers
Must hold an acceptable warranty from one of the following (not exhaustive): Advantage/Advantage HCI‚ Aedis Warranties Limited‚ Ark Insurance Group Limited-Latent Defects Insurance‚ Build Assure‚ Build Life Plans‚ Build Zone, Castle 10 (Checkmate), Global Home Warranties Limited‚ ICW, LABC‚ NHBC Certificates, Premier Guarantee‚ Protek‚ Q Assure Build Limited‚ Zurich Municipal PolicyNew Build Houses
Accepted up to scheme limits. New Build is defined as a property that has never been occupied and has an acceptable warranty in place.New Build Houses
Accepted up to scheme limits. New Build is defined as a property that has never been occupied and has an accepatable warranty in place.New Build Bulk Purchase Discount / Off Plan
This is not currently offered by Vida HomeloansNew Build Apartments / Flats
New Build apartments and flats are accepted up to scheme limits. Vida Homeloans define a new build property as a property that has never been occupied and must have suitable Warranty (See Category "Warranties for details). Valuation can be off plan. Initial offer is valid for 6 months and extensions can be considered based on currently available products and will be subject to meeting the necessary reassessment criteria.. High rise flats and those without a lift are subject to valuers comments on mortgageability and saleability.New Build Apartments / Flats
New Build apartments and flats are accepted up to scheme limits. Vida Homeloans define a new build property as a property that has never been occupied and must have suitable Warranty (See Category "Warranties for details). Valuation can be off plan. Initial offer is valid for 6 months and extensions can be considered based on currently available products and will be subject to meeting the necessary reassessment criteria.. High rise flats and those without a lift are acceptable subject to valuers comments on mortgageability and saleability.Nationality and Residency
All Buy to Let applicants must provide 3 years address history showing the latest 2 years continuous UK residency.Mundic Block - Non Standard Construction
Vida Homeloans will lend on mundic block where concrete screening test confirms A1,A2,A3. Where classification is B or C Vida is unable to help.Mundic Block - Non Standard Construction
Vida Homeloans will lend on mundic block where concrete screening test confirms A1,A2,A3.Multiple Tenancy Agreements / Room by Room Letting
Acceptable as an HMO.Multi Let / Multi Unit Block Property
MUBs accepted up to 6 units on a single freehold title. Applications considered where no previous landlord experience. Min Valuation £175,000 for the freehold block in London and SE, £125,000 in all other regions. Rental assessment = 125% for basic rate tax payers or Limited Companies, 140% for higher rate taxpayers.Mortgage Term - Years or Years and Months
Yes, will accept either full years, or years and months. Minimum 5 years, maximum 45 years.Mortgage Term - Years or Years and Months
Yes, will accept either full years, or years and months. Minimum 5 years, maximum 45 years.Mortgage Offer Validity
Vida’s standard offer is valid for 4 months. For New Build and Off Plan, initial offers are valid for 6 months. Extensions can be considered based on currently available products and will be subject to meeting the necessary reassessment criteria.Mortgage Offer Validity
Vida’s standard offer is valid for 4 months. For New Build and Off Plan, initial offers are valid for 6 months. Extensions can be considered based on currently available products and will be subject to meeting the necessary reassessment criteria.Mortgage Declarations / DDM's
Electronic. No paper or wet ink signatures required. DDM goes out with the Mortgage Offer.Mortgage Declarations / DDM's
Electronic. No paper or wet ink signatures required. DDM is sent out with the Mortgage Offer.Mortgage / Secured Loan Arrears / Missed or Late Payments
Applicants will be considered on the whole of market range as long as they have no defaults registered within the last 6 months. In addition, on our Packager Exclusive Tier we will consider applicants with even more recent adverse. See Product Guide for full adverse details.Mortgage / Secured Loan Arrears / Missed or Late Payments
Applicants will be considered on the whole of market range as long as they have no defaults registered within the last 6 months. In addition, on our Packager Exclusive Tier we will consider applicants with even more recent adverse. See Product Guide for full adverse details.Mobile Phone/Communications Arrears/Defaults
Missed unsecured telecomms and utilities payments are not taken into account when assessing applicant adverse. Telecom related defaults and CCJs count towards maximum tier levels.Mobile Phone/Communications Arrears/Defaults
Missed unsecured telecomms and utilities payments are not taken into account when assessing applicant adverse. Telecom related defaults and CCJs count towards maximum tier levels.Mixed Use Properties / Part Commercial
Can be considered for use by the residential owner/applicant exclusively for their own business purposes subject to a maximum of 40% of the building floor area and that the property can be sold as a standard residence without significant modification or expenseMissed / Late Payments
The maximum allowed in the last 6 months on our whole of market range is £500 combined. In addition, on our Packager Exclusive Tier there is no cap to the maximum amount (£) of missed/ late payments. See Product Guide for full adverse details.Missed / Late Payments
Accepted up to the following maximum adverse credit per application; No missed secured loan payments in the last 6 months with a worst status if 2 in the last 24 months. See Product Guide for full adverse details.Mining / Contamination / Subsidence / Landfill
Will not lend where saleability may be adversely affected by local planning or by an unsatisfactory mining reportMining / Contamination / Subsidence / Landfill
Will not lend where saleability may be adversely affected by local planning or by an unsatisfactory mining reportMinimum Term
5 YearsMinimum Term
5 YearsMinimum Property Value
£50,000 where LTV's up to 70% otherwise £70,000 for Standard BTL properties. £100,000 for HMOs £125,000 for MUBs (£175,000 in London & South East). Ex-LA flats £80,000 (£200,000 in Greater London) Our minimum loan size or maximum LTV may at times require a higher minimum valuation.Minimum Property Value
£70,000. Our minimum loan size or maximum LTV may at times require a higher minimum valuation.Minimum Number of Bedrooms
1 bed standard BTL's including studio flats. Minimum number of Bedrooms on an HMO is 2.Minimum Income
Income and employment details will not generally be requested for self funding BTLs .Minimum Income
At least one applicant must earn £15,000Minimum Floor Area
Minimum internal floor area for studio flats is 30 sqM, 35spM externalMinimum Floor Area
Minimum external floor area for studio flats is 35 sqMMinimum Age of Second Applicant
18 as long as direct family member. 21 otherwiseMinimum Age at Application
21 yearsMinimum Age at Application
21 yearsMileage / Travel Allowance
Mileage/Travel allowance is not taken into consideration for income by Vida HomeloansMileage / Travel Allowance
Income and employment details are not relevant for self funding BTLs.Maximum Term
45 years (Capital Repayment and Interest Only) subject to our maximum age at term end criteria.Maximum Property Value
Vida Homeloans has no maximum property valueMaximum Number of Tenants on One Tenancy Agreement
Up to 4 tenants can be on one tenancy agreementMaximum Number of Properties
Maximum 20 properties up to a maximum portfolio of £4,000,000 with Vida. No limit on total properties in overall portfolio. If landlord's whole portfolio is four or more properties (regardless of Lender), average maximum LTV is 80%Maximum Number of Bedrooms non HMO
No restriction on total number of bedrooms unless HMO where limit is 6Maximum Number of Bedrooms
No limit if the house is not an HMO. Maximum of 6 Bedrooms on an HMO.Maximum Number of Applicants
4 applicantsMaximum Number of Applicants
4 applicantsMaximum LTV / Loan To Value
90% LTV available on our 7 year fixed term85% LTV for Purchase and Remortgage
75% LTV for Interest Only
75% LTV for those applying with an Acceptable Visa or Pre-settlement status
75% LTV for properties situated above/adjacent commercial premises, restricted to 60% LTV where commercial is a restaurants/takeaway/launderette/hairdressers/public house/garage and subject to valuers comments on mortgageability and saleability.
Maximum LTV / Loan To Value
85% LTV for Standard BTL (including First Time Buyers, First Time Landlords, Ex LA Houses), HMO and MUBs. 80% for Ex LA flats. 75% for Ex-Pats and for Flats situated above commercial premises. 60% LTV for Flats situated above or close to restaurants/takeaways/launderettes/hairdressers/tattoo, piercing or nail parlours/ public houses and petrol stations.Maximum Borrowing / Loan Amount
£2m up to 75% LTV, £1m up to 85% LTVMaximum Age at End of Term / Loan To Age
Applicants must not be aged 80 or over at term end.Maximum Age at End of Term / Loan To Age
The mortgage term must end before the 85th birthday of oldest applicantMaximum Age at Application
Applicants must not be aged 80 or over at term end. The minimum mortgage term is 5 years.Maximum Age at Application
79 years.Maternity/Paternity Leave/Pay
Income and employment details are not required.Maternity/Paternity Leave/Pay
Considered on return to work pay supported with a letter from employer confirming date maternity/paternity leave due to end along with terms and salary upon return to work.Married Couple Application in One/Single Name
Where married, in civil partnerships, co-habiting or where there is a financial dependency, applications should be submitted in joint names. Where it is a remortgage of a property already owned in a sole name, underwriter discretion can be applied.Mariners / Seafarers / Ships Crew / Captain
Will be considered where a track record of sustainable earning is available.Mariners / Seafarers / Ships Crew / Captain
Income and employment details are not required.Maintenance - Family Based Arrangement/Not Court Ordered
Income and employment details are not required.Maintenance - Family Based Arrangement/Not Court Ordered
Not acceptedLondon Weighting / Long Term Large Town Allowance
Income and employment details are not required.London Weighting / Long Term Large Town Allowance
Accepted at 100%Lodger / Boarder / Rent a Room
Income and employment details are not required.Lodger / Boarder / Rent a Room
100% of lodger income taken in to account for remortgages evidenced by last three months bank statements.Local Authority Grant Scheme
This is not currently offered by Vida HomeloansLocal Authority Grant Scheme
This is not currently offered by Vida HomeloansLoan to Income Cap / Limit
Income and employment details are not required.Loan to Income Cap / Limit
Each loan needs to pass affordability assessment based on their expenditure. If the affordability assessment is passed, the maximum Loan to Income permitted is 6x Income.Live / Work / Mixed Use properties Units
Can be considered for use by the residential owner/applicant exclusively for their own business purposes subject to a maximum of 40% of the building floor area and that the property can be sold as a standard residence without significant modification or expenseLimited Company to a Sole Trader - Change of Trading Status
Acceptable and considered a continuation of Trading History. A declining profit may not be acceptable to the underwriter.Limited Company to a Sole Trader - Change of Trading Status
Acceptable and considered a continuation of Trading History. A declining profit may not be acceptable to the underwriter.Light Refurbishment
At Underwriter’s discretion. This will be subject to the valuer’s comments, the extent of the works and whether the property will be readily lettable.Light Refurbishment
Acceptable subject to Valuer's comments.Let to Buy
Not currently available.Lending to Trusts / Trustees
This is not currently offered by Vida HomeloansLending to Trusts / Trustees
This is not currently offered by Vida HomeloansLending to Limited Companies
Applications accepted from SPVs that have been formed for the sole purpose of holding residential Buy to Let properties as assets. Trading limited company lending is not permitted. Please note that the SPV must be registered in England, Wales or Scotland and all directors and all classes of shareholder are required to provide joint and several guarantees. The SPV must not be a holding company or subsidiary, or have any subsidiaries or holding companies. Where lending to an SPV that has taken out a Coronavirus Bounceback Loan or Business interruption loan, this must have been repaid prior to applicationLending to Limited Companies
Limited Company lending is available for BTL only.LENDING INTO RETIREMENT
Accepted. Maximum age at end of the mortgage term cannot exceed an applicant’s 85th birthday.Lending into retirement
Lending into Retirement is permitted in the following circumstances: Where the applicant is aged 50 or over at application the term cannot extend past their stated retirement age or 70th Birthday if using income for affordability assessment Where the applicant is aged under 50 at application and their stated retirement age is within 10 years (i.e. applicant is 46 and plans to retire at 55) the term cannot extend past their stated retirement if using income for affordability assessment Where the applicant is aged under 50 at application and more than 10 years from their stated retirement age the term can extend into retirement and their current income will be used for the affordability assessment where the applicants can evidence they have pension provisions in place Note: Where lending into retirement the applicants cannot have reached their 80th Birthday at term endLending in Retirement - Applicant Retired at Application
Accepted. The applicants cannot have reached their 85th Birthday at term end.Lending in Retirement - Applicant Retired at Application
An applicant with an employment status of “Retired” can only apply jointly with another applicant who derives income from either being employed or self-employed. Although the affordability assessment will reflect the “Retired” applicant’s credit commitments and expenditure, their respective Income(s) cannot be considered. Applicants age cannot exceed their 80th Birthday at term end.Lender Exposure Limits within a Development / Postcode / Area
Please contact our telephone V-Hub on 03300 246 246.Lend in Scotland
Yes - these postcodes are currently acceptable; AB (excluding 36-38, 55), DD, DG (excluding 13, 14, 16), EH, FK (excluding 18-21), G, IV (excluding 4, 13, 21-23, 26, 27, 29, 33-35, 37-63), KA (excluding 27, 28), KW (excluding 1-7, 11+) KY, ML, PA (excluding 20-80), PH (excluding 20-42) and TD (excluding 3, 5-12).Lend in Scotland
Yes - these postcodes are currently acceptable; AB (excluding 36-38, 55), DD, DG (excluding 13, 14, 16), EH, FK (excluding 18-21), G, IV (excluding 4, 13, 21-23, 26, 27, 29, 33-35, 37-63), KA (excluding 27, 28), KW (excluding 1-7, 11+) KY, ML, PA (excluding 20-80), PH (excluding 20-42) and TD (excluding 3, 5-12).Lend in Northern Ireland
This is not currently offered by Vida HomeloansLend in Northern Ireland
This is not currently offered by Vida HomeloansLend in England
YesLend Against / Finance Purchase of Land
This is not currently offered by Vida HomeloansLend Against / Finance Purchase of Land
This is not currently offered by Vida HomeloansLeasehold Remaining Term
For Capital & Interest loans there must be a minimum of 40 years lease remaining at the end of the mortgage term. Where Interest Only, there must be 70 years remaining.Leasehold Remaining Term
Capital & Interest loans need a minimum of 40 years lease remaining at the end of the term with Interest Only requiring 70 years remaining.Leasehold Flat / Apartment where applicant/s own part or all of the Freehold
Acceptable. Vida will register their charge on the Leasehold and the freehold title where the customer owns this solely.Leasehold Flat / Apartment where applicant/s own part or all of the Freehold
Acceptable. Vida will register their charge on the Leasehold and the freehold title where the customer owns this solely.Large Loans
Loans are available up to £2,000,000. See product rate sheets on websiteLandlocked Property / Easements / Rights of Way
This is not currently offered by Vida HomeloansKnock Through to Property Next Door / Renovations
This is not currently offered by Vida HomeloansKnock Through to Property Next Door / Renovations
This is not currently offered by Vida HomeloansKitchens - Number of / More than one
Must have one kitchen with the exception of MUBs. HMOs with more than 1 kitchen can be considered subject to valuers comments.Kitchens - Number of / More than one
Must have one kitchen. Where more than one this is acceptable if a separate annex, any other reason would be on a case by case basis.Key Worker Scheme
Our Key Worker Mortgages are for essential skilled workers employed in the public sector who provide vital community services. Please note that self-employed individuals, contractors and supply staff via agencies do not qualify for our Key Worker Scheme products.
The product range accepts applicants from the Armed Forces (Army, Navy and RAF), Public Sector Teachers (including Primary, Secondary, Sixth Form teachers and College/University lecturers/professors), NHS Clinicians and Nursing staff, Ambulance drivers, Paramedics, Police Officers and Firefighters.
At least one party on the application must be a Key Worker.
Please visit our Residential Rate Guide for more information.