BUY TO LET CUSTOMERS

One size definitely doesn't fit all when it comes to your client's mortgage needs, so our products and service have been designed to be more flexible than many mainstream lenders.Here are a few of the types of customer we specialise in at Vida Homeloans. SOME BUY TO LET MORTGAGE CONTRACTS ARE NOT REGULATED BY THE FINANCIAL CONDUCT AUTHORITY.

SMALLER DEPOSIT - UP TO 80% LTV

Description

Will particularly appeal to first time landlords or those buying in more desirable areas with higher rental yields.

Key Selling Points

Pricing starts from 20% deposit (80% LTV)
Can have historical impaired credit or life event

IMPAIRED CREDIT HISTORY

Description

Driven by life events, e.g. divorce, business failure or bereavement, resulting in arrears, CCJs, defaults, debt management plans or bankruptcy

Key Selling Points

Small or life events allowed
Up to 2 CCJs & 2 missed mortgage payments allowed up to 70% LTV

RENTAL CALCULATION

Description

Investors with properties with slightly lower rental income, likely to be looking for capital appreciation at a competitive rental assessment.

Key Selling Points

125% rental for base rate taxpayers can be topped up from 115% with surplus income
Based on higher of pay rate or 5.5% notional rate (5 year fixed pay rate)
HMO and MUB from only 130%

OLDER AND RETIRED LANDLORDS

Description

Provide retirement income, boost low pension payments, or utilise pension lump sum to invest in property.

Key Selling Points

Interest only up to 80% LTV
Maximum age 95 at the end of the term (ltd company)
No minimum income required

PORTFOLIO LANDLORDS

Description

Growing or refinancing larger portfolios.

Key Selling Points

Max 15 properties with Vida Homeloans
Can be combined with other competitive BTL criteria (e.g. rental assessment and credit history)

EXPATS INVESTING IN UK

Description

Underserved market for Expats living within the EEA who are looking to invest in a strong UK rental & property market.

 

Key Selling Points

For existing UK property owners living within the EEA
No minimum income required

HOUSES OF MULTIPLE OCCUPANCY AND MULTI-UNIT BLOCKS

Description

Flexible underwriting on complex properties, including those that are split into multiple units, (block of flats)  or accommodations (e.g. student lets) for landlords with 1 or more year's experience

Key Selling Points

HMO up to 8 bedrooms
MUB up to 5 units
No additional rate or fee loading
Available on all products

TRADING COMPANY OR SPV

Description

Recent changes have made investing through a trading limited company or a special purpose vehicle potentially more tax efficient.

Key Selling Points

Available on any trading limited company with 2 years trading and just 1 year's accounts
Floating charge not required on SPVs
Available on all products at no extra cost