LENDING CRITERIA

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Available up to 70% LTV excluding fees. Above 70% LTV, debt consolidation is limited to 50% of the capital raising amount.

Deposits must be provided from one or a combination of the following:

  • The customer’s own funds,
  • The remortgage of a property already owned by the customer,
  • A gifted deposit from a close relative
  • Builder/ Vendor deposit
  • Inheritance. If inheritance is to be provided as proof of deposit, a solicitor’s letter shall be required to confirm the source.

Proof of deposit is required in any purchase where the deposit is NOT being funded by use of equity released from the sale of the customer’s current property. Where there is a relationship between the vendor and customer, Vida will always require proof of deposit prior to offer, regardless of the stated source of funds. 

Mortgage payments are to be made monthly by Direct Debit from a UK bank account in the customer’s name. Direct Debit mandates in a limited company name are not acceptable.

Recent updates to Vida Criteria

100% Debt Consolidation now available on residential products up to 70% LTV
Up to three unsecured missed payments allowed in the last 6 months
Maximum BTL loan increased to £1m