RESIDENTIAL 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.

IMPAIRED CREDIT HISTORY

Description

Previous life events - e.g. divorce, business failure, bereavement - leading to arrears, CCJs, defaults, debt management or bankruptcy

Key Selling Points

Small or life events allowable
Debt Management Plans considered

'LET TO BUY' - RENT OUT AND MOVE

Description

Climbing the housing ladder, job relocation or changes in circumstances can require the need to move but retain existing house. If your client wishes to let out their existing house, we will consider lending on the BTL remortgage or the new residential mortgage. 

Key Selling Points

All products/schemes, up to 85% LTV residential, 80% Buy to Let

INTEREST ONLY

Description

For the client who wants interest only.  Future downsizing may be a repayment option. 

Key Selling Points

Max 75% LTV interest only
Allows own investment vehicle or downsizing

RIGHT TO BUY PURCHASE

Description

Customers buying social housing at a discount. Can be a house or flat.

Key Selling Points

Any product level, up to 95% of the discounted purchase price. Same max loan limits and criteria
Flats up to 80% LTV
High rise considered

CONTRACTORS & SHORT WORK HISTORY

Description

High street says ‘No’ due to short term contracts or recent changes of role.

Key Selling Points

6 months remaining on contract or a rolling 3 month contract renewed at least once
Only 1 year track record of employment in the same line of work required

BORROWING IN OR INTO RETIREMENT

Description

Buy later in working life with a 25-35 yr term due to house prices/affordability, or pensioners needing to release equity for investment/ debt consolidation.

Key Selling Points

Max age 85 at end of the term
Current income used if retirement more than 10 years away
Affordability includes 100% pension income

'BUY TOGETHER' MORTGAGES

Description

Friends/couples buy together due to lower incomes, high property costs, buying in aspirational areas – modern cohabiting/house share.

Key Selling Points

Up to 4 applicants accepted with all 4 incomes considered
Main applicant minimum age 21

SELF EMPLOYED

Description

Self employed/sole traders, minimum 1 year's accounts, and may have adverse credit history.

Key Selling Points

1 year's verified accounts or SA302
Dividends and net profit included
Eligible for all products