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Residential Products

Get life moving with our Residential product range - effective from 9th October 2024.

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We can help you get life moving for more specialist Residential mortgage customers
with our flexible criteria, fee free options and fixed rate deals.

 

Residential Product range - jump to a section:
〉Our product range
〉Customer credit profiles explained
〉Key Residential Criteria
〉Useful downloads, guides & links

 

 

LIMITED EDITIONS
2 year fixed
LTVTierInitial rateFeeMax loan
90%Vida 366.87%£1,495£600k

 

Fees

Assessment Fees:

A non-refundable £195 is payable on all applications

Product fees can be added to loan above max LTV except 90%.

Standard valuation fees apply

Additional information

Minimum loan £50k

ERCs

4%, 3%

Vida Variable rate (VVR)

7.05% set on 01.09.2024

Revert rate

9.69% (VVR + 2.64%)

5 year fixed
LTVTierInitial rateFeeMax loan
90%Vida 366.54%£1,495£600k

 

Fees

Assessment Fees:

A non-refundable £195 is payable on all applications

Product fees can be added to loan above max LTV except 90%.

Standard valuation fees apply

Additional information

Minimum loan £50k

ERCs

5%, 5%, 4%, 3%, 2%

Vida Variable rate (VVR)

7.05% set on 01.09.2024

Revert rate

9.69% (VVR + 2.64%)

 

Standard range
2 year fixed

Standard range - 2 year fixed rate

Available for both purchase and remortgages

LTVTierInitial RateFeeMax loan
75%Vida 366.49%£995£2m
Vida 246.59%
Vida 66.84%
Packager7.24%
80%Vida 366.54%£995£1m
Vida 246.76%
Vida 67.19%
85%Vida 366.71%£995£1m
Vida 247.00%
Vida 67.34%

 

Fees

Assessment Fees:

A non-refundable £195 is payable on all applications

Product fees can be added to loan above max LTV except 90%.

Standard valuation fees apply

Additional information

Minimum loan £50k

ERCs

4%, 3%

Vida Variable rate (VVR)

7.05% set on 01.09.2024

Revert rate

9.69% (VVR + 2.64%)

5 year fixed

Standard range - 5 year fixed rate.

A minimum term of 6 years is required.

Available for both purchase and remortgages

LTVTierInitial RateFeeMax loan
75%Vida 366.04%£995£2m
Vida 246.11%
Vida 66.27%
Packager7.04%
80%Vida 366.14%£995£1m
Vida 246.30%
Vida 66.40%
85%Vida 366.24%£995£1m
Vida 246.32%
Vida 66.69%

 

Fees

Assessment Fees:

A non-refundable £195 is payable on all applications

Product fees can be added to loan above max LTV, except 90%

Standard valuation fees apply

Additional information

Minimum loan £50k

ERCs


5%, 5%, 4%, 3%, 2%

Vida Variable rate (VVR)

7.05% set on 01.09.2024

Revert rate

9.69% (VVR + 2.64%)

7 year fixed

Standard range - 7 year fixed rate.

A minimum term of 8 years is required.

Available for both purchase and remortgages.

LTVTierInitial rateFeeMax loan
90%Vida 366.54%£995£600k

 

Fees

Assessment Fees:

A non-refundable £195 is payable on all applications

Product fees can be added to loan above max LTV, except 90%

Standard valuation fees apply

Additional information

Minimum loan £50k

ERCs


6%, 6%, 5%, 4%, 3%, 2%, 1%

Vida Variable rate (VVR)

7.05% set on 01.09.2024

Revert rate

9.69% (VVR + 2.64%)

 

Fee Saver
2 year fixed

Fee saver - 2 year fixed rate.

Available for both purchase and remortgages.

No product fee, no assessment fee and a free valuation on properties up to £1m.

LTVTierInitial rateFeeMax loan
75%Vida 367.49%£0£2m
Vida 247.59%
Vida 67.74%

 

Fees

No Assessment Fee payable on Fee Saver Range

One free standard valuation on all properties up to £1m

Standard valuation fees apply on properties valued above £1m

Additional information

Minimum loan £50k

ERCs

2 year 4%, 3%

Vida Variable rate (VVR)

7.05% set on 01.09.2024

Revert rate

9.69% (VVR + 2.64%)

5 year fixed

Fee saver - 5 year fixed rate

A minimum term of 6 years is required.

Available for both purchase and remortgages.

No product fee, no assessment fee and a free valuation on properties up to £1m.

LTVTierInitial rateFeeMax loan
75%Vida 366.19%£0£2m
Vida 246.44%
Vida 66.59%

 

Fees

No Assessment Fee payable on Fee Saver Range

One free standard valuation on all properties up to £1m

Standard valuation fees apply on properties valued above £1m

Additional information

Minimum loan £50k

ERCs


5%, 5%, 4%, 3%, 2%

Vida Variable rate (VVR)

7.05% set on 01.09.2024

Revert rate

9.69% (VVR + 2.64%)

7 year fixed

Fee saver - 7 year fixed rate

A minimum term of 8 years is required.

Available for both purchase and remortgages

No product fee, no assessment fee and a free valuation on properties up to £1m.

LTVTierInitial rateFeeMax loan
90%Vida 366.79%£0£600k

 

Fees

Assessment Fees:

One free standard valuation on all properties up to £1m

Standard valuation fees apply on properties valued above £1m

Additional information

Minimum loan £50k

ERCs


6%, 6%, 5%, 4%, 3%, 2%, 1%

Vida Variable rate (VVR)

7.05% set on 01.09.2024

Revert rate

9.69% (VVR + 2.64%)

 

Right to Buy
2 year fixed

Right to Buy - 2 year fixed

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

LTVTierInitial rateFeeMax loan
75%Vida 366.83%
£995£2m
Vida 246.84%
Vida 67.24%
Packager7.64%

 

Fees

Assessment Fees:

A non-refundable £195 is payable on all applications

Standard valuation fees apply

Additional information

Minimum loan £50k

ERCs

4%, 3%

Vida Variable rate (VVR)

7.05% set on 01.09.2024

Revert rate

9.69% (VVR + 2.64%)

5 year fixed

Right to Buy - 5 year fixed

A minimum term of 6 years is required.

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

LTVTierInitial rateFeeMax loan
75%Vida 366.69%
£995£2m
Vida 246.94%
Vida 67.14%
Packager7.34%

 

Fees

Assessment Fees:

A non-refundable £195 is payable on all applications

Standard valuation fees apply

Additional information

Minimum loan £50k

ERCs


5%, 5%, 4%, 3%, 2%

Vida Variable rate (VVR)

7.05% set on 01.09.2024

Revert rate

9.69% (VVR + 2.64%)

What's new?

Limited Edition available on Vida 36, 2 year fixed at 90% LTV

Get the download


πŸ—Ž Residential Product Guide
Updated October 9th 2024
πŸ—Ž Criteria Guide
Updated October 9th 2024
πŸ—Ž Residential Application Checklist
Updated July 10th 2024

 

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Customer credit profiles

Should your customer have adverse that falls outside of our three Credit Tiers, we still may be able to help with our Packager Tier.

CriteriaVIDA 36VIDA 24VIDA 6PACKAGER
Months since last default ≥ £2500 in 360 in 240 in 6Considered < 6 months
Months since last CCJ ≥ £2500 in 360 in 240 in 6Considered < 6 months
Worst status Secured Payments* (months)0 in last 363 in last 24Considered (no max)
No secured arrears allowed within the last 6 months
Number of missed unsecured payments ≥ £250 in the last 6 months1 in 62 in 63 in 6Considered (no max)
Bankruptcy / IVA / DRO / Trust Deed3 years +1 year +
Previous repossessions6 years +3 years +
  • Vida 36
    Months since last default0 in 36
    Months since last CCJ0 in 36
    Worst Status Secured Payments* (months) 0 in last 36
    Number of missed unsecured payments >£250 in the last 6 months**1 in 6
    Bankruptcy / IVA / DRO / Trust Deed3 years +
    Previous repossessions6 years +
  • VIDA 24
    Months since last default 0 in 24
    Months since last CCJ 0 in 24
    Worst Status Secured Payments* (months) 3 in last 24
    Number of missed unsecured payments >£250 in the last 6 months**2 in 6
    Bankruptcy / IVA / DRO / Trust Deed3 years +
    Previous repossessions6 years +
  • Vida 6
    Months since last default0 in 6
    Months since last CCJ0 in 6
    Worst Status Secured Payments* (months) 3 in last 24
    Number of missed unsecured payments >£250 in the last 6 months**3 in 6
    Bankruptcy / IVA / DRO / Trust Deed3 years +
    Previous repossessions6 years +
    Worst Status Secured Payments* (months) 3 in 24
  • PACKAGER
    Months since last default Considered < 6 months
    Months since last CCJ Considered < 6 months
    Worst Status Secured Payments* (months) Considered (no max)
    Number of missed unsecured payments >£250 in the last 6 months** Considered (no max)
    Bankruptcy / IVA / DRO / Trust Deed1 year +
    Previous repossessions3 years +

*All historic secured arrears must have been made 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.

 

Criteria Highlights

 

Self employed

Minimum 1 years trading required

2 years evidence of income required unless only 1 years available due to time trading

Salary, dividends and net profit considered

Accepted across all products

Joint Borrower Sole Proprietor

Up to 4 applicants accepted

All incomes considered in affordability

Parents (including step-parents and parents of a spouse) and children (including step or adopted), siblings, grandparents, aunts, uncles, cousins and nieces/nephews) accepted

Contractor and short work history

48x weekly rate for self employed

Day 1 contractors considered with a minimum 1-years track record of employment within the same line of work

Minimum 3 months remaining on current contract

Contractors of any profession

CIS workers & Umbrella contractors accepted

EU/EEA/Swiss and Foreign nationals

Acceptable Visas:-

• EU/EEA/Swiss with Settled Status
• EU/EEA/Swiss with Pre-Settled Status
• Foreign National with Indefinite Leave to Remain
• 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

Specialist properties

Ex-Public Sector properties

New Build

Flats above or adjacent to commercial considered

High-rise flats considered with no restrictions on the maximum number of storeys

 

What's new?

All defaults and CCJs under £250 are ignored.

Get the download


πŸ—Ž Residential Product Guide
Updated October 9th 2024
πŸ—Ž Criteria Guide
Updated October 9th 2024
πŸ—Ž Residential Application Checklist
Updated July 10th 2024

Back to Top ↑

 

 

Downloads, resources & links

 

 

Useful links

〉 Our Service Pledge