"The new BTL calculator and online lending criteria search tool are the latest examples of designing our technology around market needs."
The calculator follows the launch of Vida’s maximum loan calculator for residential loans in March, which has so far been used for over 14,000 calculations.
The criteria search tool allows brokers to define whether they are looking for Vida’s residential or buy-to-let criteria and then to enter the first few letters of a search term to quickly bring up ‘best fit’ answers.
Ying Tan, Managing Director of The Buy to Let Club, commented: “Vida has built a very complex and sophisticated BTL affordability calculator, one of the best available from a UK mortgage lender. This calculator not only works out the maximum loan that Vida will consider lending to customers based on the rental income achieved from the property, but it also provides an alternative solution where it will calculate what rental income is required, based on the requested loan amount.”
Guy Batchelor, Sales & Marketing Director at Vida Homeloans, added: “The new BTL calculator and online lending criteria search tool are the latest examples of designing our technology around market needs. I'm sure you will agree that these two new initiatives not only provide a better online experience for our intermediaries but also help to deliver a great customer outcome.”
