Vida expands buy-to-let expat criteria

Vida has widened its buy-to-let expat criteria to lend to existing UK property owners working in FATF member countries around the world following a pilot with selected key distributors.

Related topics:  Mortgages
Rozi Jones
14th May 2018
euro, eurozone, flag, ecb
"We are now rolling the proposition out to the wider market in response to demand."

The Financial Action Task Force is an intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering, and includes countries such as Australia, America and Canada.

The exclusive range is available up to 65% LTV outside the EEA up to a maximum loan size of £1 million. First time landlords, HMOs and multi unit blocks are all acceptable.

In addition, spouses who are non-British citizens can be party to the mortgage and no minimum income is required.

Louisa Sedgwick, director of sales – mortgages, commented: “We’ve been offering this extension to our buy-to-let expat range via selected key distributors over the past couple of months and we are now rolling the proposition out to the wider market in response to demand.

"Intermediaries have been telling us that our criteria-driven buy-to-let expat proposition - including niche criteria such as HMOs and MUBs and no minimum income requirements - is hard to beat.”

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