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- Lending specialist broadens expat locations to include India, Malaysia, Saudi Arabia and Singapore
- These changes follow a swathe of recent additions to Vida’s product range
Vida,
the specialist lender, has announced it is broadening
their range of expat locations to also include India, Malaysia, Saudi Arabia
and Singapore. There are over 119,000 British expats* residing in these four
countries, allowing Vida to help more people invest in the UK from overseas.
This
expansion adds to the 41 countries
worldwide currently accepted by Vida, and customers in all of these locations
can apply for a Buy to Let mortgage up to 75% LTV. For expats living outside
the EEA, the minimum property value required is £150,000. UK registered SPVs are
considered where at least one director or shareholder is an expat, and HMO
& MUBs are also considered. There is no minimum income required if the
property is self-funding, and the maximum loan size is up to £1 million. Vida lend
on properties across England, Wales and Scotland.
Additionally,
Vida offer Fee Saver and Flex products across the Expat range, giving landlords
more choice when it comes to borrowing
with Vida.
These
latest changes following the wake of a range of residential and buy to let criteria
enhancements to extend Vida’s product range, to include a bespoke Key Worker
product, a Flex Range, an extended HTB range, as well as 90% LTV mortgages now
available on all houses and flats.
Richard Tugwell, Director of Mortgage
Distribution at Vida said:
“As a lending specialist we are constantly looking for new innovative ways to enhance our proposition. We are seeing an increasing demand from expat customers and we wanted to enhance our offering to reflect this demand. Getting an expat mortgage isn’t always straightforward, but we aim to ensure that we deliver a first class intermediary experience and provide a great range of product options for our broker’s clients. We are confident that these will provide great solutions our borrowers cut out of traditional mainstream lending.”
