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Product
All assessment fees removed across our Residential
range
- We've reduced our minimum loan size from £100k
down to £75k
- Up to 85% LTV available
- New Lending Tiers - simplified, flexible criteria
- First Time Buyers welcomed
Criteria
- New Keyworker range now available up to 85% LTV
- Keyworker range: 5.5x income now accepted
- 2nd income and shift allowance now accepted
- 100% of regular bonuses now accepted
- Enhanced affordability: 48x weekly rate for self
employed contractors
- Day 1 contractors considered
See where your Residential customer fits within our Vida tiers.
| Criteria | VIDA 48 | VIDA 36 | VIDA 24 | VIDA 12 | VIDA 6 |
|---|---|---|---|---|---|
| Registered Defaults (months) | 0 in 48 | 0 in 36 | 0 in 24 | 0 in 12 | 0 in 6 |
| Registered CCJs (months) | 0 in 72 | 0 in 36 | 0 in 24 | 0 in 12 | 0 in 6 |
| Value of unsatisfied CCJs | £0 | £0 | £1,000 | £2,500 | £5,000 |
| Missed Mortgage/Secured Payments (months) | 0 in 36 | 0 in 36 | 0 in 12 | 0 in 12 | 0 in 6 |
| Unsecured Arrears (last 6 months) | 0 | 1 | 2 | 2 | 3 |
| Unsecured Missed Payments in the last 6 months Combined Value | £0 | £500 | £500 | £500 | £500 |
| Worst Status Secured Payments* (months) | 0 in 36 | 3 in 24 | 3 in 24 | 3 in 24 | 3 in 24 |
Vida 48 Registered Defaults (months) 0 in 48 Registered CCJs (months) 0 in 72 Value of unsatisfied CCJs £0 Missed Mortgage/Secured Payments (months) 0 in 36 Unsecured Arrears 0 Unsecured Missed Payments in the last 6 months Combined Value £0 Worst Status Secured Payments* (months) 0 in 36 VIDA 36 Registered Defaults (months) 0 in 36 Registered CCJs (months) 0 in 36 Value of unsatisfied CCJs £0 Missed Mortgage/Secured Payments (months) 0 in 36 Unsecured Arrears 1 Unsecured Missed Payments in the last 6 months Combined Value £500 Worst Status Secured Payments* (months) 3 in 24 Vida 24 Registered Defaults (months) 0 in 24 Registered CCJs (months) 0 in 24 Value of unsatisfied CCJs £1,000 Missed Mortgage/Secured Payments (months) 0 in 12 Unsecured Arrears 2 Unsecured Missed Payments in the last 6 months Combined Value £500 Worst Status Secured Payments* (months) 3 in 24 VIDA 12 Registered Defaults (months) 0 in 12 Registered CCJs (months) 0 in 12 Value of unsatisfied CCJs £2,500 Missed Mortgage/Secured Payments (months) 0 in 12 Unsecured Arrears 2 Unsecured Missed Payments in the last 6 months Combined Value £500 Worst Status Secured Payments* (months) 3 in 24 VIDA 6 Registered Defaults (months) 0 in 6 Registered CCJs (months) 0 in 6 Value of unsatisfied CCJs £5,000 Missed Mortgage/Secured Payments (months) 0 in 6 Unsecured Arrears 3 Unsecured Missed Payments in the last 6 months Combined Value £500 Worst Status Secured Payments* (months) 3 in 24
*All historic secured 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 6 years not acceptable
We're on a mission to provide more opportunity for home-ownership for your clients. Here are three scenarios which bring our enhanced criteria and affordability to life. You can grab these case studies, here
The one with Patricia's bonus....
Patricia is looking to move from her flat into a house with some outside space. She works as a Manager in a supermarket.
Since deciding to move, Patricia also works some overtime during evenings and over the weekend. She has also been receiving a bonus each month as her department is meeting their goals. Patricia was worried that she wouldn’t be able to afford a house with a garden with her basic salary. But we can help!
We will not only consider her supermarket salary, but also her overtime worked up to 75% and in addition, her bonus each month up to 100%.
The one where Greg gets a 2nd job....
Greg is looking to move house to achieve more space for his family. He suffered a small credit blip of an unpaid bill last year but has since been up to date with his payments to build his credit rating. He works full time in a factory and 4 months ago, started a second job working in the evenings and at the weekend for an Advertising sales agency, where he’s hit the ground running and has been earning a strong commission since month one.
Greg didn’t think any lenders would consider his second job or even his commission for affordability, due to the length of time he’s been working for the agency... but we will!
We'll consider not only his factory work income, but also his second job income and additionally, his commission up to 75%.
The one where Ben remortgages....
Ben is looking to remortgage along with consolidating his existing car loan and credit card to reduce his monthly expenditure. His home is valued at £900,000 and he requires an 85% Loan to Value mortgage.
He has been self-employed for two years and his business has been doing well and providing him with a good income.
He unfortunately missed both his mortgage and car loan payments at the end of 2020 due to an error when switching to a new bank account. This has now been resolved, however it has impacted his credit rating.
Due to being self-employed for 2 years and his missed mortgage payment in past 12 months, despite his high income, Ben hasn’t been able to get a mortgage on the high street. But we can help!
We will consider Ben on Vida tier 24 due to his adverse history. We can also offer him up to 85% LTV on his remortgage, on our Fee Saver range where Ben will receive one free valuation, £500 contribution to his legal fees paid within 30 days of completion, plus £0 product fee payable. With Vida, Ben was able to remortgage his home and consolidate his debts, crucially reducing his outgoings.
Got a case? Talk to our team
03300 246 246:
Option 1: for New Case enquiries
Option 2: for existing case or post DIP enquiries
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