"We have made a number of rate cuts recently and we’re confident that this combination of criteria and pricing will prove attractive to our brokers"
Vida has also removed all constraints on debt consolidation, allowing capital raising remortgages for any purpose, and removed the need for a floating charge on Special Purpose Vehicles which are set up for property investment.
The lender has improved its criteria for Multi Unit Blocks bringing in a minimum valuation per block (rather than per unit) and allowing up to 5 units.
Landlords are now required to have just 12 months’ experience of owning a buy-to-let property for both MUBs and HMOs, down from 3 years.
Louisa Sedgwick, Director of Sales – Mortgages at Vida Homeloans, commented: “Following some enthusiastic feedback from our partners, this latest refresh of our buy-to-let lending criteria is part of Vida Homeloans’ commitment to offer intermediaries innovation and flexibility in securing the best mortgage deal for their client’s needs. We have made a number of rate cuts recently and we’re confident that this combination of criteria and pricing will prove attractive to our brokers, networks and packager partners.”
