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Flexible
Lending Criteria
Recent updates
Residential Maximum Age: Before applicant’s 80th Birthday
Lending in or into retirement
Where the following three statements below apply, we can consider lending to age 80 based on current income:
• Applicant is under 50
• is over 10 years from retirement
• is contributing to a pension scheme Additional applicants outside of this can be considered but no income will be used for affordability. The repayment type must be on a capital & interest basis
Maximum term: 45 years (Capital Repayment and Interest Only) subject to our maximum age at term end criteria.
Zero Hours Contracts
Applicants considered where a 12 month year track record of sustainable earningsZero Hours Contracts
Income and employment details will not generally be requested for self funding BTLs .Working Tax Credits
Income and employment details will not generally be requested for self funding BTLs .Working Tax Credits
50% of Working Tax Credit is accepted (not as main source of income) but assessed on individual basis.Wimpey No Fines / Laing Easi Form post 1945 - Non Standard Construction
Wimpey No-Fines houses accepted if constructed after 1946. Laing Easiform house accepted if constructed after 1966.Wimpey No Fines / Laing Easi Form - Non Standard Construction
Wimpey No-Fines houses & Laing Easi Form both accepted if constructed after 1946. Bungalows or Flats are not acceptable regardless of date of construction.Wimpey No Fines / Laing Easi Form - Non Standard Construction
Wimpey No-Fines houses & Laing Easi Form both accepted if constructed after 1946. Bungalows or Flats are not acceptable regardless of date of construction.Widow's Pension
Accepted at 100%Widowed Parent Allowance
Income and employment details are not required.Widowed Parent Allowance
Not acceptableWar Widow(ers) Pension
Income and employment details are not required.War Widow(ers) Pension
Accepted at 100%Voluntary Right to Buy (Housing Association Tenants)
Vida does not currently accept Voluntary Right to BuyVisas: Acceptable Visas
Foreign nationals will need to provide evidence of their right to reside in the UK Those with a permanent right to reside, EU/EAA/Swiss with settled status or Indefinite leave to remain can borrow up to scheme limits Where residency status is evidenced by one of the following, borrowing is available up to 75% LTV with at least 5% of the deposit coming from either savings or inheritance ; • EU/EEA/Swiss with pre-settled status • Family Visa • Tier 1 (Entrepreneur Visa only) • Tier 2 (Skilled Worker) • UK Ancestry Visa • British National (Overseas) Visa • Senior or Specialist Worker visa • Health and Care Worker Visa .Vested Share Income
Income and employment details are not required.Valuers / Valuation Company
EsurvValuation Type / Definition / Criteria
Yes, eSurv will always make a full internal inspection and drive-by or AVM is not acceptableValuation Type / Definition / Criteria
Yes, eSurv will always make a full internal inspectionValuation Appeals
Can consider. Must send a minimum of 3 comparable properties from with a 1 mile radius that have been sold in the last 6 months.Valuation Appeals
Can consider. Must send a minimum of 3 comparable properties that have been sold in the last 6 months.Valuation / Survey Types Available
Valuation for mortgage purposes only. Fee free option available with Fee Saver products on properties valued at up to £1,000,000. Home Buyers Reports and Full Building Surveys are not available through Vida.Valuation / Survey Types Available
Valuation for mortgage purposes only. Fee free option available with Fee Saver products on properties valued at up to £1,000,000. Home Buyers Reports and Full Building Surveys are not available through Vida.Utility Bills Missed/Late Payments/Arrears
Missed unsecured utilities payments are not taken into account when assessing applicant adverse. Utility related defaults and CCJs count towards maximum tier levels.Utility Bills Missed/Late Payments/Arrears
Missed unsecured utilities payments are not taken into account when assessing applicant adverse. Utility related defaults and CCJs count towards maximum tier levels.Unsecured Loan Arrears
Vida will allow a maximum of 3 missed payments >£250 in last 6 months on the whole of market range. On Vida's Packager Exclusive Tier there is no cap to the maximum amount (£) of missed/ late payments. See Product Guide for full adverse details.Unsecured Loan Arrears
Vida will allow a maximum of 3 missed payments >£250 in last 6 months on the whole of market range. On Vida's Packager Exclusive Tier there is no cap to the maximum amount (£) of missed/ late payments. See Product Guide for full adverse details.Universal Credit
Accepted at 50% but must not be main source of income but assessed on individual basisUnderpinned Properties
Properties that have been underpinned in the last 10 years must have a 10 year guarantee warranting the works completed and must be placed with the title deeds. The Valuer must state no sign of new movement. The solicitors to confirm prior to completion that the Building's Insurer's are aware of the problem and willing to cover on normal terms.Underpinned Properties
Properties that have been underpinned in the last 10 years must have a 10 year guarantee warranting the works completed and must be placed with the title deeds. The Valuer must state no sign of new movement. The solicitors to confirm prior to completion that the Building's Insurer's are aware of the problem and willing to cover on normal terms.Underpayment Facility
Vida is unable to consider an underpayment facilityUK Resident / EU Nationals
All UK and EEA applicants applying for a Buy to Let Mortgage must provide at the latest 2 years residential address history in UK. All applicants must provide 3 years address history.UK Resident / EU Nationals
3 years' address history required from Residential applicants and right to reside. All applicants must provide at least the latest years' residential address history in UK.Tyneside Flats / Cross Leases
Vida is unable to lend on Tyneside Flats / Cross LeasesTwo Applicants on Mortgage / One Named on Deeds
Helping Hand is our Joint Borrower Sole Proprietor purchase and remortgage offer (either FTB or home-mover, excludes RTB). Parents (including stepparents and parents of a spouse) and children (including step or adopted), siblings, grandparents, aunts, uncles, cousins and nieces/nephews assisting each other to buy or remortgage a home by joining the mortgage without going on the title deeds. All incomes considered in affordability subject to usual rules.Tronc (Tips) income
Vida Homeloans can accept applicants which receive tronc payments (tips) when assessing affordability as long as they can be evidenced on payslips and there is sufficient track record. Tronc (Tips) income is accepted at 75%.Travel Costs / Rail Cards / Travel Season Tickets
Income and employment details are not required.Travel Costs / Rail Cards / Travel Season Tickets
Travel costs will be considered in the assessment of affordability.Timber Framed - Non Standard Construction
Timber frame acceptable with a brick or 'block and rendered' outer frame.Timber Framed - Non Standard Construction
Timber frame acceptable with a brick or 'block and rendered' outer frame.Third Party Income (Spouse, Partner, Parent etc.) not Named on Mortgage
Income and employment details are not required.Third Party Income (Spouse, Partner, Parent etc.) not Named on Mortgage
Only as Court Ordered Maintenance.Tenure
Freehold & Leasehold are both acceptable. For Capital & Interest loans minimum of 40 years lease remaining at the end of the term. For Interest Only, there must be 70 years remaining at the end of the term.Tenure
Freehold & Leasehold are both Acceptable For Capital & Interest loans minimum of 40 years lease remaining. Interest Only, 70 years remaining.Tenancy / Letting to Government/ Housing Association / DSS
Non-Assured Shorthold Tenancy Agreements are Acceptable. Require sight of all corporate letting agreements which are then referred to our solicitors for consideration. DSS tenants acceptable.Tenancy - Letting to Housing Benefit / DSS Tenants
Tenancies to individuals supported by Housing Benefits are acceptable. DSS accepted.TENANCY - LETTING TO HOUSING ASSOCIATION / LOCAL AUTHORITY/DSS
Accepted where letting requirement is not be overly complex and have a maximum 5 year duration of the head tenancy, with a break clause. Sub letting must be permissable and not have the potential to become a secured tenancy.DSS tenants acceptable.Tenancy - Letting to a Housing Association / Local Authority
Accepted. Will however require sight of the Corporate Letting Agreement in order to consider fullyTemporary Work / Employment
Income and employment details are not required.Temporary Work / Employment
Applicants considered where a 2 year track record of sustainable earningsSub-Sales and Reassignment of Sale Contracts
This is not currently offered by Vida HomeloansSub Letting
Considered at underwriter discretion. The letting requirement must not be overly complex and have a maximum 5 year duration of the head tenancy, with a break clause.Studio Flats / Apartments
Acceptable. Must be more than 30 SqM internal, 35 SqM externalStudio Flats / Apartments
Acceptable. Must be more than 35 square metres.Student Loans
Student Loans are taken into consideration for Affordability Assessment.Student Lets
Student lets: students can either be on individual AST's or jointly and severally liable for the rent. It is acceptable for a family member to be one of the occupants of a Student Let. Family members must not reside in the property, unless full time students occupying less than 40%. To be let out on AST only.Stocks & Shares as an Interest Only Repayment Vehicle
Acceptable. Stocks, Shares, ISA or other liquid investment. Declaration Form will be required clearly setting out the repayment strategy and amount(s) to be used.Stipend
Stipend is not taken into consideration for income by Vida HomeloansSteel Framed - Non Standard Construction
Acceptable as long as post-2000 construction.Steel Framed - Non Standard Construction
Acceptable as long as post-2000 construction.State Pension Income
Not accepted. Applicants' who are already Retired and in receipt of State Pension income are accepted where term end is before their 80th Birthday but their income can not be used for the affordability assessment.State Pension Income
Income and employment details are not required.Starter Homes Scheme
Starter Home Initiative not availableStarter Home Initiative
This is not currently offered by Vida HomeloansSPVs / Business Classification SIC Codes Limited Company Lending
SPV's must have one of the following SIC Codes: 68100 Buying and selling of own real estate‚ 68209 Other letting and operating of own or leased real estate‚ 68320 Management of real estate on a free or contract basis‚ 68201 Renting and operating of Housing Association real estate . SPV must be registered in England, Wales or Scotland.Spousal Maintenance
Income and employment details are not required.Splitting of Title Deed
May consider. Please Refer.Special Duties Allowance
Income and employment details are not required.Special Duties Allowance
Yes, providing it is available throughout the mortgage termSolicitors / Conveyancers
Yes providing the solicitor is on our panel. Visit Conveyancing to see our Conveyancer panel.Solicitors / Conveyancers
Yes providing the solicitor is on our panel. Visit Conveyancing to see our Conveyancer panel.Sole Trader to a Limited Company - Change of Trading Status
Agreed subject to individual cases assessment. We will consider lending to Special Purpose Vehicles for the purpose of property investment – trading limited company lending is not permitted.Sole Trader to a Limited Company - Change of Trading Status
Agreed subject to individual case assessmentSolar Panels
Consent to lease of roof space is considered for the installation of solar panelsSoft Footprint at AIP/DIP Stage
Yes, soft foot print onlySitting Tenants
We accept both Purchase and re-mortgage applications for properties with a tenant in situ, provided that:
- The tenancy agreement is an AST (Assured Shorthold Tenancy), PRT (Private Residential Tenancy), or a standard occupation contract.
- The tenant does not have any security of tenure.
Shortfall in Rental Calculation / Top Slicing / Personal Income Affordability
All BTLs need to be self funding. Top slicing not currently availableShort Term Renewable Contracts
Income and employment details are not required.Short Term Renewable Contracts
Day 1 contractors considered with a minimum of 1-years track record of employment within the same line of work. Minimum 3 months remaining on current contract.Shift Allowance / Unsociable Hours
Income and employment details are not required.Shift Allowance / Unsociable Hours
100% of Shift Allowance or Unsociable House payment is accepted.Sheltered Accommodation / Retirement Housing
This is not currently offered by Vida HomeloansShared Ownership Remortgage Staircasing
Shared Ownership schemes not availableShared Equity Remortgage Staircasing
This is not currently offered by Vida HomeloansShared Equity
This is not currently offered by Vida HomeloansServiced Flat / Apartment
This is acceptable for a residential application onlyService / Ground Rent / Maintenance Costs
Income and employment details are not required.Self Employed - Validity of Accounts
Accounts must be no more than 12 months old before the date of application. Where proof of income is more than 12 months old we will also require an accountants certificate verifying thatthere are no material changes in revenue, expenditure, salary and dividends. If Accountants certificate is not available, personal and business bank statements are required for review by underwriter. If the latest proof of income is older than 12 months (but no more than 18 months old), the latest 3 months Personal and Business Bank Statements will also need to be supplied.Self Employed - Validity of Accounts
Income and employment details are not required.Self Employed - Umbrella Companies
Acceptable to be paid via an umbrella company, which pays tax and NI for the applicant. Income verified via last 3 months payslips and most recent P60 if applicable or by way of contract x 48 weeksSelf Employed - Umbrella Companies
All BTL’s need to be self funding. Income details are not required.Self Employed - Trading History / Years Accounts
Sole Trader, LLP or Partnership: If trading for more than 24 months we will require latest 2 years evidence of income. If trading for less than 24 months, we will require 1 years evidence of income along with a projection for current year from a suitable qualified accountant OR latest 3 months business bank statements. Limited Company Director: We can use Net profit where the applicant(s) own 100% of the shareholding. Otherwise we will look at salary plus dividends. If trading for less than 24 months, we can only take salary plus dividends. CIS Contractor: CIS workers to provide their latest 1 yearSA302 and Tax Year Overview and last 3 months payslips /invoices; OR the latest 12 months CIS payslips / invoices. If the latest proof of income is older than 12 months (but no more than 18 months old), the latest 3 months Personal and Business Bank Statements will also need to be supplied.Self Employed - Trading History / Years Accounts
Income and employment details will not generally be requested for self funding BTLs .Self Employed - Sole Trader, LLP or Partnership
If trading for more than 24 months we will require latest 2 years evidence of income. If trading for less than 24 months, we will require 1 years evidence of income along with a projection for current year from a suitable qualified accountant OR latest 3 months business bank statements. If the latest proof of income is older than 12 months (but no more than 18 months old), the latest 3 months Personal and Business Bank Statements will also need to be supplied.Self Employed - Sole Trader
Income and employment details will not generally be requested for self funding BTLs .Self Employed - Retained Profit in Company
We will consider retained profit as a source of deposit however, it cannot be used as income towards affordability.Self Employed - Retained Profit in Company
Income and employment details will not generally be requested for self funding BTLs .Self Employed - Partnerships
Income and employment details will not generally be requested for self funding BTLs .Self Employed - Limited Liability Partnerships / LLP's
Income and employment details will not generally be requested for self funding BTLs .Self Employed - Director / Percentage Share of Business
Once an applicant reaches a 25% shareholding they will be considered self employedSelf Employed - Director / Percentage Share of Business
Once an applicant reaches a 25% shareholding they will be considered self employedSelf Employed - Director / Limited Company
Once an applicant reaches a 25% shareholding they will be considered self employedSelf Employed - Director / Limited Company
Treated as self employed when owning 25% or more of the shares. For joint applicants who are shareholders in the same company, the 25% relates to the combined shareholding. Affordability based upon dividends + remuneration, or net profit where applicants own 100% of the companySelf Employed - Declining Profits
Where stable or increasing profits we would usually use the latest year's figures. Where the previous 2 years shows a significant variance we may request information from prior years to enable a better view of the trend to be established.Self Employed - Declining Profits
Income and employment details will not generally be requested for self funding BTLs .Self Employed - Assessment of Accounts for Affordability
Income and employment details will not generally be requested for self funding BTLs .Self Employed - 1 Years Accounts
Income and employment details will not generally be requested for self funding BTLs .SELF EMPLOYED
Income and employment details are not required.Self Build / Custom Build
Vida will consider lending where the self build has been completed and covered by a suitable 10 year warranty.Second Job / Additional Employment
Income and employment details are not required.Second Job / Additional Employment
Up to 100% of income from second jobs accepted, providing a 3 month record can be demonstrated.Second Home / Property / Pied a Terre
This is not currently offered by Vida HomeloansSeasonal Employment
Income and employment details are not required.Seasonal Employment
This is not currently offered by Vida HomeloansScottish First Home Fund Scheme (SFHFS)
This is not currently offered by Vida HomeloansSchool Fees
School fees will be considered in the assessment of affordability.Sale of Foreign Property/Assets as an Interest Only Repayment Vehicle
This is not currently offered by Vida HomeloansRight To Buy / Right To Acquire
Available on purchase only applications from Local Authorities for Right to Buy and from Housing Associations for Right to Acquire. Available up to lower of 100% of discounted purchase price or 75% of the open market value. We will need to see:- Section 125 or RTA 3 from the Local Authority/Housing Association - Last 12 months rental payments. Any missed rental payments will be treated as missed mortgage payments for tier allocation
Retirement Interest Only (RIO) Mortgages
This is not currently offered by Vida HomeloansRetentions Full / Partial
Partial retentions not acceptable. Assessed on current valuation. Full retentions are required where substantial work is necessary on the subject propertyRetentions Full / Partial
Partial retentions not acceptable. Assessed on current valuation. Full retentions are required where substantial work is necessary on the subject propertyRetained / Additional Properties in the Background - Non Professional Landlords
Acceptable. Full property details will need to be supplied at application for considerationRestrictive Covenants
This is not currently offered by Vida HomeloansResidential Mortgage in the Background / To Remain
Not considered. On a new residential purchase, any existing residential properties must be sold. Vida will not consider where someone is retaining their existing residential property and converting it to a BTL, either by way of a consent to let or remortgaging it on a BTL basis.Residency
Every applicant (including directors/shareholders in SPVs) must provide their address history covering the last 3 years. The latest 2 years of which must show continuous residency in the UK (This does not apply to Expatriates).
Where an application involves a single individual borrower, the applicant must be either a/an:
▪ UK National residing in the UK; or
▪ Foreign National living in the UK with permanent rights to reside; or
▪ Expatriate (a UK National living overseas subject to our acceptable Expatriate country list and Expatriate limits).
o Where an application involves multiple individual borrowers, every applicant must be either:
▪ UK National residing in the UK; or
▪ Foreign National living in the UK with permanent rights to reside; or
▪ All applicants must be Expatriate (subject to our acceptable Expatriate country list and Expatriate scheme limits).
Note: An application that involves multiple individual borrowers, in which some are Expatriates and others not, is not acceptable.
Residency
3 years' address history required from Residential applicants and right to reside. All applicants must provide at least the latest years' residential address history in UK.Requirement to be a Homeowner / Owner Occupier
Every applicant (including directors/shareholders in SPVs) must provide their address history covering the last 3 years. The latest 2 years of which must show continuous residency in the UK (This does not apply to Expatriates). Where an application involves a single individual borrower, the applicant must be either a/an:
▪ UK National residing in the UK; or
▪ Foreign National living in the UK with permanent rights to reside; or
▪ Expatriate (a UK National living overseas subject to our acceptable
Expatriate country list and Expatriate limits).
o Where an application involves multiple individual borrowers, every applicant must be either:
▪ UK National residing in the UK; or
▪ Foreign National living in the UK with permanent rights to reside; or
▪ All applicants must be Expatriate (subject to our acceptable Expatriate country list and Expatriate scheme limits).
Note: An application that involves multiple individual borrowers, in which some are Expatriates and others not, is not acceptable
Rental Income as Sole/Additional Declared Income
Income and employment details are not required.Rental Income as Sole/Additional Declared Income
100% Accepted as long as supported by SA302 & Tax Year Overview, accountants certificate or financial accountsRental Income as Sole Income
Acceptable – Income and employment details are not required
Rental Income as Additional Declared Income
Income and employment details are not required.Rental Calculation / Stress Test / Interest Cover Ratio (ICR)
ICR at 125% for Basic Rate taxpayers and SPV's. 140% for Higher Rate taxpayersRent Arrears
Considered subject to maximum overall restrictions on adverse credit - see full credit status on website product guides.Rent Arrears
Considered subject to maximum overal restrictions on adverse credit - see full credit status on website product guides.Remortgage from Bridging Finance/Loan
Acceptable if over 6 months ago. If less than 6 months ago, we allow remortgaging from bridging finance provided by other lenders including the roll up of interest and lender fees only. Capital raising is not accepted in this time period. Repayment of a private bridge is not permitted.Remortgage from Bridging Finance/Loan
Acceptable. We allow remortgaging from bridging finance provided by other lenders including the roll up of interest and lender fees. Capital raising is not accepted.Remortgage Capital Raising Purposes
Remortgage allowed for any legal purpose. Debt consolidation available up to 85% LTV. Capital Raising excludes business purposes, speculative investments, gambling debts and purchase of time share.Remortgage Capital Raising Purposes
Remortgage allowed for any legal purpose. Capital Raising excludes speculative investments, gambling debts and purchase of time share.Remortgage Applications
Remortgage allowed for any legal purpose and up to scheme limits. Excludes business purposes, speculative investments, Gambling Debts and the purchase of time shareRemortgage Applications
Remortgage allowed for any legal purpose and up to scheme limits. Excludes business purposes, speculative investments, Gambling Debts and the purchase of time shareRemortgage - Transfer of Equity
Acceptable. Solicitor will be required to confirm details of the transferRemortgage - Transfer of Equity
Acceptable. Solicitor will be required to confirm details of the transferRemortgage - Rental Calculation Pound for Pound
Rental income must meet our interest coverage requirements for the advance requestedRe-inspection Fees - New Build
Vida will charge a re-valuation fee of £120 where a re-inspection is required prior to the release of moniesRe-inspection Fees - New Build
No, Vida will charge a re-valuation fee of £120 where a re-inspection is required prior to the release of moniesRegulated Buy To Let / BTL
This is not currently offered by Vida HomeloansRegulated Buy To Let / BTL
Family members must not reside in the property, unless full time students occupying less than 40%. To be let out on AST only.Reduced Income for a Defined Period
Income and employment details are not required.Reduced Earnings Allowance
Income and employment details are not required.Reduced Earnings Allowance
Reduced Earnings Allownace is not taken into consideration for income by Vida HomeloansPurchase of Adjoining Property
Yes but both properties must be single dwelling units and there can be no shared services other than a cesspitPurchase of Adjoining Property
Yes but both properties must be single dwelling units and there can be no shared services other than a cesspitPurchase from Own/Family's Limited Company
This is not currently offered by Vida HomeloansPurchase from a Limited Company
Vida will not accept property which is being bought from customers own limited companyPurchase from a Limited Company
Vida can accept a purchase application from a limited companyPurchase for Family Member
This is not currently offered by Vida HomeloansPurchase for Family Member
Family members must not reside in the property, unless full time students occupying less than 40%. To be let out on AST only.Purchase Application
Acceptable. Up to 85% LTV. See Criteria Category for LTV's for more information.PROPERTY WITH SPRAY FOAM INSULATION
We will be unable to accept any property where spray foam insulation has been applied.PROPERTY WITH SPRAY FOAM INSULATION
We will be unable to accept any property where spray foam insulation has been applied.Property with Shared Access / Shared Services
Vida Homeloans can potentially consider a property with shared access, subject to valuer recommendations and solicitors’ endorsements. Vida Homeloans can consider a property with shared services as long as they’re not shared with an adjoining/adjacent property which does not form part of the security. (Apart from Septic Tank which is acceptable).Property with Shared Access / Shared Services
Vida Homeloans can potentially consider a property with shared access, subject to valuer recommendations and solicitors’ endorsements. Vida Homeloans can consider a property with shared services as long as they’re not shared with an adjoining/adjacent property which does not form part of the security. (Apart from Septic Tank which is acceptable).Property with Outbuildings
Areas up to three acres acceptable, more can be considered on a case by case basis. Must be wholly for residential use, private paddocks and stables acceptable but not farms and smallholdings. Agricultural or similar restrictions not acceptable.Property with Outbuildings
Areas up to three acres acceptable, more can be considered on a case by case basis. Must be wholly for residential use, private paddocks and stables acceptable but not farms and smallholdings. Agricultural or similar restrictions not acceptable.Property with Land / Acreage
Areas up to three acres acceptable, more can be considered on a case by case basis. Must be wholly for residential use, private paddocks and stables acceptable but not farms and smallholdings. Agricultural or similar restrictions not acceptable.Property with Land / Acreage
Areas up to three acres acceptable, more can be considered on a case by case basis. Must be wholly for residential use, private paddocks and stables acceptable but not farms and smallholdings. Agricultural or similar restrictions not acceptable.Property with an Annex
Properties with annexes are acceptable with or without shared services provided the annex is used for residential purposes. One annex only, which should be occupied as ancillary accommodation to the main property under the same AST i.e. no separate letting.Property owned for less than 6 months by Vendor
Vida will consider, subject to underwriter discretion, a mortgage or remortgage of a property owned for less than 6 months by VendorProperty owned for less than 6 months by Vendor
Vida will consider, subject to underwriter discretion, a mortgage or remortgage of a property owned for less than 6 months by VendorProperty Management / Letting Agent/Agency
No requirement for a management Agent to be appointed. Vida accept Applicants who self-manage their propertiesProperty Condition / Minimum Requirements
Must be habitable in it's current condition and subject to Valuer's comments.Property Condition / Minimum Requirements
Must be habitable in it's current condition. Subject to Valuer's comments.Property close to / on Landfill
Vida cannot accept as suitable securityProperty close to / on Landfill
Vida cannot accept as suitable securityProperty affected by Subsidence
Vida cannot accept as suitable securityProperty affected by Subsidence
Vida cannot accept as suitable securityProperty affected by Mining / Close to Mineshaft
Vida can potentially consider lending on properties that are close to a mine shaft subject to valuation and appropriate legal checks.Property affected by Mining / Close to Mineshaft
Vida can potentially consider lending on properties that are close to a mine shaft subject to valuation and appropriate legal checks.Property affected by Contamination
Vida cannot accept as suitable securityProperty affected by Contamination
Vida cannot accept as suitable securityProperty / Investment Clubs
Purchases and remortgages involving a Property Investment Club will not be considered.Property / Investment Clubs
Purchases and remortgages involving a Property Investment Club will not be considered.Properties close to Commercial Outlets
Accepted up to 75% LTV. Properties situated next to restaurants, takeaways, dry cleaners, hairdressers, laundrettes, tattoo, piercing, nail parlours, public houses, petrol stations have a maximum LTV of 60%.subject to valuers comments on mortgageability and saleability.Properties close to Commercial Outlets
Accepted up to 75% LTV. Properties situated next to restaurants, takeaways, dry cleaners, hairdressers, laundrettes, tattoo, piercing, nail parlours, public houses, petrol stations have a maximum LTV of 60%.subject to valuers comments on mortgageability and saleability.Proof of Residential / Address ID
Electronic identification will be used to identify an applicant(s) against a variety of public databases. If the applicant(s) is not found or does not pass the electronic ID verification process, proof of identity & residency as appropriate will be required. EID used, but where required we may need the following: Utility bill dated within the last 3 months (internet statements will be considered), Bank/credit card statements showing full name and address (internet statements will be considered)‚ Latest Council Tax bill, HM Revenue & Customs correspondence - relating to current tax year‚ Latest Mortgage Statement (internet statements not acceptable)Proof of Residential / Address ID
Satisfactory proof of residency covering a minimum 2 year period is always required. Electronic Identification (EID) is used. However ,if the applicant is not found or does not pass the EID verification process, proof of identity and residency will be required as appropriate:- valid UK driving licence, utility bill dated within the last 3 months (internet statements considered)‚ bank / credit card statements showing full name and address (internet statements considered), latest council tax bill, HM Revenue & Customs correspondence - relating to current tax year, latest mortgage statement (internet statements not acceptable).Proof of Personal / Photographic ID
Electronic identification (EID) will be used to identify applicants. If applicants is not found or does not pass the EID verification process, proof of identity will be required. Please follow the link below for the full list of acceptable documents and certification requirements.
Proof of Personal / Photographic ID
Electronic identification (EID) will be used to identify applicants. If applicants is not found or does not pass the EID verification process, proof of identity will be required. Please follow the link below for the full list of acceptable documents and certification requirements.
Proof of Deposit
Required in any purchase where the deposit is not being funded by use of equity release from the sale of the customer's current property.
Proof of savings will be required in all instances. Please refer to the list of items required to support the application following submission for confirmation of the evidence required. This will range from a statement showing the balance in a UK bank account to monthly bank statements evidencing the build up of funds
Proof of Deposit
Required in any purchase where the deposit is not being funded by use of equity release from the sale of the customer's current property.
Proof of savings will be required in all instances. Please refer to the list of items required to support the application following submission for confirmation of the evidence required. This will range from a statement showing the balance in a UK bank account to monthly bank statements evidencing the build up of funds
Professions / Professional Specialist Range / Criteria
Income and employment details are not required.Professions / Professional Specialist Range / Criteria
No specialist criteria, treated as any other applicant.Professional Sports People
Income and employment details are not required.Professional Sports People
Accepted but each case considered on its individual merit.Professional Landlords
Yes and will be treated as Self Employed.Professional Landlords
Maximum 20 properties up to a maximum portfolio of £4,000,000 with Vida. No limit on total properties in overall portfolio. If landlord's whole portfolio is four or more properties (regardless of Lender), average maximum LTV is 80%Product Transfer / Rate Switch / Customer Retention
Yes we offer Product Transfers / Switches. If the client’s introductory rate has already expired, or is due to expire within the next 6 months, they are eligible to switch to a new product providing they meet the following criteria: They are up to date with payments, both when they accept the offer, and on the switch date. Their remaining mortgage term is longer than the fixed period of the new product + 6 months. For example, they must have at least 2 years and 7 months left on their current mortgage term to be eligible for a 2-year fixed product. The Product Switch offer needs to be accepted more than 10 working days before the end of the month for the new rate to become effective on the 1st day of the following month. Otherwise, it will become effective a full month later, on the 1st day of the next month.Product Transfer / Rate Switch / Customer Retention
Yes we offer Product Transfers / Switches. If the client’s introductory rate has already expired, or is due to expire within the next 6 months, they are eligible to switch to a new product providing they meet the following criteria: They are up to date with payments, both when they accept the offer, and on the switch date. Their remaining mortgage term is longer than the fixed period of the new product + 6 months. For example, they must have at least 2 years and 7 months left on their current mortgage term to be eligible for a 2-year fixed product. The Product Switch offer needs to be accepted more than 10 working days before the end of the month for the new rate to become effective on the 1st day of the following month. Otherwise, it will become effective a full month later, on the 1st day of the next month.Product Split on same Mortgage
This is not currently offered by Vida HomeloansProbationary Period
Yes, this can be considered subject to the underwriter's discretion.Probationary Period
Income and employment details are not required.Private Pension Income
Income and employment details are not required
Private Pension Income
Accepted at 100% where applicant is currently employed or self-employed. Where applicant is already Retired no income for that applicant will be used for the affordability assessment.Price Work
We will consider Price Work in exceptional circumstances, subject to at least 1 year's track record and suitable evidence of earnings.Pre Reinforced Concrete / PRC - Non Standard Construction
This is not currently offered by Vida HomeloansPre Reinforced Concrete / PRC - Non Standard Construction
Will not accept property constructed using concrete Large Panel System (LPS).Postcode / Location Acceptable Areas for Lending
England, Wales and the following postcodes in Scotland; AB (excluding 36-38, 55), DD, DG (excluding 13, 14, 16), EH, FK (excluding 18-21), G, IV (excluding 4, 13, 21-23, 26, 27, 29, 33-35, 37-63), KA (excluding 27, 28), KW (excluding 1-7, 11+) KY, ML, PA (excluding 20-80), PH (excluding 20-42) and TD (excluding 3, 5-12).Postcode / Location Acceptable Areas for Lending
England, Wales and the following postcodes in Scotland; AB (excluding 36-38, 55), DD, DG (excluding 13, 14, 16), EH, FK (excluding 18-21), G, IV (excluding 4, 13, 21-23, 26, 27, 29, 33-35, 37-63), KA (excluding 27, 28), KW (excluding 1-7, 11+) KY, ML, PA (excluding 20-80), PH (excluding 20-42) and TD (excluding 3, 5-12).Portfolio Landlords - Up to 4 BTL Properties with other Lenders
Accepted - no restriction of total portfolio size. Up to 20 (max £4m) can be with VidaPortfolio Landlords - Unlimited BTL Properties with other Lenders
Accepted - no restriction of total portfolio size. Up to 20 (max £4m) can be with VidaPortfolio Landlords - Specific Scheme
No, portfolio landlords access the same product range as individual unit landlordsPortfolio Landlords - Rental Assessment of Background Properties
Vida will only apply rental assessment to portfolio properties with Vida. Assessed on a self-funding basis, calculation based on the Product Type, ,
▪ > = 5 Year fixed: Initial Product Rate
▪ < 5 Year fixed & variable: Greater of Initial Product Rate + 2%; OR Initial Product Rate + Residential Interest Rate Stress; OR o 5.5%.
Portfolio Landlords - Remortgage Capital Raising to pay a Tax Bill
Yes, accepted. no different for a portfolio landlord or non-portfolio landlordPortfolio Landlords - Remortgage Capital Raising for Business Purposes
Yes - capital raising for portfolio landlords is no different to capital raising for non portfolio landlords. Accepted for any legal purposes.Portfolio Landlords - Remortgage Capital Raising
Portfolio landlords can remortgage with Vida up to the maximum of 20 properties and £4,000,000. Max LTV across wider portfolio of 80%Portfolio Landlords - Remortgage
Average LTV across wider portfolio must be no greater than 80%Portfolio Landlords - Purchase Application
Portfolio landlords can hold up to 20 mortgaged properties with Vida and up to £4,000,000. Max LTV across wider portfolio of 80%Portfolio Landlords - Number of BTL Properties with other Lenders
There is no restriction on total portfolio size with other lenders.Average LTV must be no more than 80% across the portfolioPortfolio Landlords - Minimum Income
No minimum income required. Affordability is based upon rental income per propertyPortfolio Landlords - Maximum Number of Properties
No overall portfolio limit. Maximum of 20 properties and £4,000,000 with VidaPortfolio Landlords - Maximum Number of BTL Properties with Lender
Maximum of 20 properties with a maximum portfolio of £4m with Vida.Portfolio Landlords - Maximum Loan Amount / Lending / Borrowing
Vida will lend against a maximum of 20 properties and up to a maximum of £4m. No limit on total portfolio size and no restriction on the total amount being borrowed by the portfolio landlordPortfolio Landlords - eTech Buy to Let Hub
Yes, Vida uses eTech's Buy to Let HubPortfolio Landlords - Documents Required
Vida will require an existing property portfolio spreadsheet and Business plan for each application. Both of these forms are downloadable from Vida website. Brokers can upload their existing portfolio spreadsheet providing it contains the relevant information. On rare occasions the underwriter might also request a cashflow forecast and/or an Asset and Liability statementPortfolio Landlords - Cash Flow Statement / Forecast
A Cash Flow Statement and/ or an Assets & Liabilities Statement can be requested at the underwriter’s discretion on any BTL application.Portfolio Landlords - Business Plan
Business plan required on al portfolio landlord applications.Portfolio Landlords - Assets and Liabilities Statement
A Cash Flow Statement and/ or an Assets & Liabilities Statement can be requested at the underwriter’s discretion on any BTL application.Portfolio Landlords - Applications Accepted From
Vida defines a portfolio landlord as one with 4 mortgaged BTL properties prior to applicationPortfolio Landlords - Additional Underwriting Checks
All Portfolio Landlords will need to complete a Business Plan and on occasion and at underwriter discretion, may be asked to provide a Cashflow Statement and an Asset and Liability Statement.Portfolio Landlords - 5 to 10 BTL Properties with other Lenders
Accepted - no restriction of total portfolio size. Up to 20 (max £4m) can be with VidaPortfolio Landlords - 11 to 50 BTL Properties with other Lenders
Accepted - no restriction of total portfolio size. Up to 20 (max £4m) can be with VidaPortfolio Landlord - Definition of
Someone who has 4 or more mortgaged BTL properties at application Up to 80% LTV average across portfolio. £4m max loans on up to 20 proerties with Vida. No limit on overall portfolio sizePortfolio
Up to 20 properties with a maximum portfolio of £4,000,000 with Vida. No limit on overall portfolio size. If landlord's whole portfolio is four or more properties (regardless of lender), average LTV must be no more than 80%.PO Box Address for Ex Pats
Not accepted on residential range. For information on BTL for expats, you can download our Expat guidePO Box Address for Ex Pats
If the only available overseas address is a PO Box number, this will be acceptable where supported by confirmation from theiremployer via proof of address template and last 3 months payslips showing the salary credit into the bank accountPiece Work / Piece Workers
Income and employment details are not required.Piece Work / Piece Workers
We will consider Piece Work in exceptional circumstances, subject to at least 1 year's track record and suitable evidence of earnings.Personal Independence Payment / PIP
Accepted at 50% but assessed on individual basisPersonal Independence Payment / PIP
Income and employment details are not required.Personal Finance for Business Purposes
This is not currently offered by Vida HomeloansPermanent Health Insurance / PHI
Income and employment details are not required.Permanent Health Insurance / PHI
Permanent Health Insurance payments are not taken into consideration for income by Vida HomeloansPeriod Properties / Non Standard Construction
Timber framed properties constructed pre 1950 are only acceptable if considered a "period property" subject to valuers comments.Period Properties / Non Standard Construction
Timber framed properties constructed pre 1950 are only acceptable if considered a "period property" subject to valuers comments.Pension Contributions
Pension contributions will be ignored in the assessment of affordability unless they are deemed excessive. Where lending into retirement and the applicants income is required for the affordability assessment evidence of Pension Contributions will be required.Pension Contributions
Income and employment details are not required.Pension as an Interest Only Repayment Vehicle
Acceptable. Pension (Personal, Executive or Employed pension plan). Declaration Form will be required clearly setting out the repayment strategy and amount(s) to be used.Payslips / Wageslips
Hand-written document and online payslips will be accepted with the corresponding bank statement to show the salary credit being made to the customer.Payslips / Wage slips
Hand-written document and online payslips will be accepted with the corresponding bank statement to show the salary credit being made to the customer.Payday Loans
All payday loans must have been repaid upon completion and on underwriter discretion that there is no continued need for the ongoing use of payday loans.Payday Loans
Can be considered however assessed for frequency on a case by case basisPartner/2nd Applicant - With No Income
Yes, this would be consideredPart Repayment & Part Interest Only
This is not currently offered by Vida HomeloansOvertime
Income and employment details are not requiredOvertime
Accepted at 75% and evidenced by last 3 month's payslips and last P60Overpayment Facility
Where ERCs exist, up to 10% in any rolling 12-month period. As no ERCs on variable products there is no restriction on overpayments
Overpayment Facility
Where ERCs exist, up to 10% in any rolling 12-month period. As no ERCs on variable products there is no restriction on overpayments.Over-indebtedness / Debt to Income Ratio
Vida does not use Debt to income ratios. All applications must pass affordabilityOver-indebtedness / Debt to Income Ratio
Vida does not use Debt to income ratios. All applications must pass affordabilityOver 55 Buy To Let Equity Release - Unacceptable Equity Release Purposes
Not applicableOver 55 Buy To Let Equity Release - No Negative Equity Guarantee
Not applicableOver 55 Buy To Let Equity Release - Fixed interest rate for the life of the loan
Not applicableOther Income
Acceptable at 100%: regular monthly, quarterly or annual bonuses supported by P60 and payslips; Income from trust funds; rental profit; investment income supported by SA302; occupational pension income (including war widows/disablement or widowers pensions); second and other jobs providing 3 months' record; car allowance; shift allowance; London/large town allowance; housing allowance (provided by an employer); mortgage subsidy; payments from armed forces compensation scheme; lodger income (for remortgages); foster care income; child tax credit; child benefit; guardian's allowance. Acceptable at 75%: overtime or commission regular or monthly supported by P60 and relevant payslips. Acceptable at 50%: (not as main source of income) Disability Living Allowance (DLA) / Carer’s Allowance / Industrial Injuries Disablement Benefit (IIDB) / Personal Independence Payment (PIP) / Employment and Support Allowance (ESA) - Income and Contribution / Incapacity Benefit / Armed Forces Independence Payment / Universal Credit / Working Family Tax CreditsOther Income
Income and employment details will not generally be requested for self funding BTLs .Off Plan New Build Houses / Apartments
Properties in the course of construction or Off Plan will be considered on a 'finished basis' valuation with full retention of monies until the property is ready for completionOff Plan New Build Houses / Apartments
Properties in the course of construction or Off Plan will be considered on a 'finished basis' valuation with full retention of monies until the property is ready for completionOccupancy
With the exception of our Helping Hand proposition, all applicants must reside in the security property. Helping Hand is our Joint Borrower Sole Proprietor purchase and remortgage offer (either FTB or home-mover, excludes RTB). Parents (including stepparents and parents of a spouse) and children (including step or adopted), siblings, grandparents, aunts, uncles, cousins and nieces/nephews assisting each other to buy or remortgage a home by joining the mortgage without going on the title deeds. All incomes considered in affordability subject to usual rules.Occupancy
Family members must not reside in the property, unless full time students occupying less than 40%. To be let out on AST only.Number of Floors / Storeys / High Rise
There is no restriction on the maximum number of storeys. High rise flats and those without a lift are acceptable subject to valuers comments on mortgagability and saleability.Number of Floors / Storeys / High Rise
There is no restriction on the maximum number of floors / storeys. High rise flats and those without a lift are subject to valuers comments on mortgagability and saleability.Non UK Tax Payer / Non Domicile
Unacceptable. Must reside in the UK, be paid in sterling.Non UK Tax Payer / Non Domicile
No, all applicants must be liable to pay UK taxNon UK / EU / EEA Foreign Nationals
Accepted. Buy to Let applicants (including directors/shareholders in SPVs) must provide their address history covering the last 3 years. The latest 2 years of which must show continuous residency in the UK (This does not apply to Expatriates).
- Where an application involves multiple individual borrowers, every applicant must be either:
- UK National residing in the UK; or
- Foreign National living in the UK with permanent rights to reside; or
- All applicants must be Expatriate (subject to our acceptable Expatriate country list and Expatriate scheme limits).
Non UK / EU / EEA Foreign Nationals
Foreign nationals will need to provide evidence of their right to reside in the UK
Those with a permanent right to reside, EU/EAA/Swiss with settled status or Indefinite leave to remain can borrow up to scheme limits.
Where residency status is evidenced by one of the following, borrowing is available up to 75% LTV with at least 5% of the deposit coming from either savings or inheritance;
- EU/EEA/Swiss with pre-settled status
- Family Visa
- Tier 1 (Entrepreneur Visa only)
- Tier 2 (Skilled Worker)
- UK Ancestry Visa
- British National (Overseas) Visa
- Senior or Specialist Worker visa
- Health and Care Worker Visa
Non Standard Construction
We will consider Non-Standard Construction properties in some instances; please contact the V-Hub on 03300 246 246 to discuss the case in more detail.Non Standard Construction
Vida will consider a wide range of properties with non standard construction. Please contact the V-Hub on 03300 246 246 to discuss the case in more detail.Non Simultaneous / Staggered Sale & Completion
Acceptable as long as income can cover both mortgages.Non Borrowing Occupiers
Acceptable with each occupier over the age of 17 to sign a witnessed Declaration following independent legal adviceNHS Fleet Solutions / Car Scheme / Salary Sacrifice
Income and employment details are not required.NHS Fleet Solutions / Car Scheme / Salary Sacrifice
Vida would take this into consideration for affordability assessmentNew Build/Builder Sales Incentives
Accepted providing incentive does not exceed 5% and confirmation is received from the vendor/builder to confirm monetary value. Maximum 5% of the total amount of the Incentives as declared on the CML Form which can be split i.e. 2.5% Builder Gifted Deposit and 2.5% Cash or other incentives.New Build/Builder Sales Incentives
Accepted providing incentive does not exceed 5% and confirmation is received from the vendor/builder, confirming monetary value. Maximum 5% of the total amount of the Incentives as declared on the UK Finance Disclosure Form. Can be split i.e. 2.5% Builder Gifted Deposit and 2.5% Cash or other incentives.New Build Houses
Accepted up to scheme limits. New Build is defined as a property that has never been occupied and has an acceptable warranty in place.New Build Houses
Accepted up to scheme limits. New Build is defined as a property that has never been occupied and has an accepatable warranty in place.New Build Bulk Purchase Discount / Off Plan
This is not currently offered by Vida HomeloansNew Build Apartments / Flats
New Build apartments and flats are accepted up to scheme limits. Vida Homeloans define a new build property as a property that has never been occupied and must have suitable Warranty (See Category "Warranties for details). Valuation can be off plan. Initial offer is valid for 6 months and extensions can be considered based on currently available products and will be subject to meeting the necessary reassessment criteria.. High rise flats and those without a lift are acceptable subject to valuers comments on mortgageability and saleability.New Build Apartments / Flats
New Build apartments and flats are accepted up to scheme limits. Vida Homeloans define a new build property as a property that has never been occupied and must have suitable Warranty (See Category "Warranties for details). Valuation can be off plan. Initial offer is valid for 6 months and extensions can be considered based on currently available products and will be subject to meeting the necessary reassessment criteria.. High rise flats and those without a lift are subject to valuers comments on mortgageability and saleability.New Build / Converted Properties – Warranty Providers
Must hold an acceptable warranty from one of the following (not exhaustive): ABC+, Advantage/Advantage HCI‚ Aedis Warranties Limited‚ Ark Insurance Group Limited-Latent Defects Insurance‚ Build Assure‚ Build Life Plans‚ Build Zone, Castle 10 (Checkmate), Global Home Warranties Limited‚ ICW, LABC‚ NHBC Certificates, Premier Guarantee‚ Protek‚ Q Assure Build Limited‚ Zurich Municipal PolicyNationality and Residency
All Buy to Let applicants must provide 3 years address history showing the latest 2 years continuous UK residency.Mundic Block - Non Standard Construction
Vida Homeloans will lend on mundic block where concrete screening test confirms A1,A2,A3. Where classification is B or C Vida is unable to help.Mundic Block - Non Standard Construction
Vida Homeloans will lend on mundic block where concrete screening test confirms A1,A2,A3.Multiple Tenancy Agreements / Room by Room Letting
Acceptable as an HMO.Multi Let / Multi Unit Block Property
MUBs accepted up to 6 units on a single freehold title. Applications considered where no previous landlord experience. Min Valuation £175,000 for the freehold block in London and SE, £125,000 in all other regions. Rental assessment = 125% for basic rate tax payers or Limited Companies, 140% for higher rate taxpayers. We will only consider MUB Freehold blocks of flats where no leases have been granted on any of the units.Mortgage Term - Years or Years and Months
Yes, will accept either full years, or years and months. Minimum 5 years, maximum 45 years.Mortgage Term - Years or Years and Months
Yes, will accept either full years, or years and months. Minimum 5 years, maximum 45 years.Mortgage Offer Validity
Vida’s standard offer is valid for 4 months. For New Build and Off Plan, initial offers are valid for 6 months. Extensions can be considered based on currently available products and will be subject to meeting the necessary reassessment criteria.Mortgage Offer Validity
Vida’s standard offer is valid for 4 months. For New Build and Off Plan, initial offers are valid for 6 months. Extensions can be considered based on currently available products and will be subject to meeting the necessary reassessment criteria.Mortgage Declarations / DDM's
Electronic. No paper or wet ink signatures required. DDM is sent out with the Mortgage Offer.Mortgage Declarations / DDM's
Electronic. No paper or wet ink signatures required. DDM goes out with the Mortgage Offer.Mortgage / Secured Loan Arrears / Missed or Late Payments
Applicants will be considered on the whole of market range as long as they have no defaults registered within the last 6 months. In addition, on our Packager Exclusive Tier we will consider applicants with even more recent adverse. See Product Guide for full adverse details.Mortgage / Secured Loan Arrears / Missed or Late Payments
Applicants will be considered on the whole of market range as long as they have no defaults registered within the last 6 months. In addition, on our Packager Exclusive Tier we will consider applicants with even more recent adverse. See Product Guide for full adverse details.Missed / Late Payments
Vida will allow a maximum of 3 missed payments >£250 in last 6 months on the whole of market range. On Vida's Packager Exclusive Tier there is no cap to the maximum amount (£) of missed/ late payments. See Product Guide for full adverse details.Missed / Late Payments
Vida will allow a maximum of 3 missed payments >£250 in last 6 months on the whole of market range. On Vida's Packager Exclusive Tier there is no cap to the maximum amount (£) of missed/ late payments. See Product Guide for full adverse details.Mining / Contamination / Subsidence / Landfill
Will not lend where saleability may be adversely affected by local planning or by an unsatisfactory mining reportMining / Contamination / Subsidence / Landfill
Will not lend where saleability may be adversely affected by local planning or by an unsatisfactory mining reportMinimum Term
Our minimum term is 5 years.
Any products selected with a fixed rate of 5 or more years, 1 extra year must be applied to the term e.g.
• 5 year fixed rate must have a 6 year term.
• 7 year fixed rate must have a 8 year term.
Minimum Term
Our minimum term is 5 years.
Any products selected with a fixed rate of 5 or more years, 1 extra year must be applied to the term e.g.
• 5 year fixed rate must have a 6 year term.
• 7 year fixed rate must have a 8 year term.
Minimum Property Value
£50,000 where LTV's up to 70% otherwise £70,000 for Standard BTL properties. £100,000 for HMOs £125,000 for MUBs (£175,000 in London & South East). Ex-LA flats £80,000 (£200,000 in Greater London) Our minimum loan size or maximum LTV may at times require a higher minimum valuation.Minimum Property Value
£70,000. Our minimum loan size or maximum LTV may at times require a higher minimum valuation.Minimum Number of Bedrooms
1 bed standard BTL's including studio flats. Minimum number of Bedrooms on an HMO is 2.Minimum Income
Income and employment details will not generally be requested for self funding BTLs .Minimum Floor Area
Minimum internal floor area for studio flats is 30 sqM, 35spM externalMinimum Floor Area
Minimum external floor area for studio flats is 35 sqMMinimum Age of Second Applicant
18 as long as direct family member. 21 otherwiseMileage / Travel Allowance
Mileage/Travel allowance is not taken into consideration for income by Vida HomeloansMileage / Travel Allowance
Income and employment details are not relevant for self funding BTLs.Maximum Term
45 years (Capital Repayment and Interest Only) subject to our maximum age at term end criteria.Maximum Property Value
Vida Homeloans has no maximum property valueMaximum Number of Tenants on One Tenancy Agreement
Up to 4 tenants can be on one tenancy agreementMaximum Number of Properties
Maximum 20 properties up to a maximum portfolio of £4,000,000 with Vida. No limit on total properties in overall portfolio. If landlord's whole portfolio is four or more properties (regardless of Lender), average maximum LTV is 80%Maximum Number of Bedrooms non HMO
No restriction on total number of bedrooms unless HMO where limit is 6Maximum Number of Bedrooms
No limit if the house is not an HMO. Maximum of 6 Bedrooms on an HMO.Maximum LTV / Loan To Value
90% LTV available on our 7 year fixed term85% LTV for Purchase and Remortgage
75% LTV for Interest Only
75% LTV for those applying with an Acceptable Visa or Pre-settlement status
75% LTV for properties situated above/adjacent commercial premises, restricted to 60% LTV where commercial is a restaurants/takeaway/launderette/hairdressers/public house/garage and subject to valuers comments on mortgageability and saleability.
Maximum LTV / Loan To Value
85% LTV for Standard BTL (including First Time Buyers, First Time Landlords, Ex LA Houses), HMO and MUBs. 80% for Ex LA flats. 75% for Ex-Pats and for Flats situated above commercial premises. 60% LTV for Flats situated above or close to restaurants/takeaways/launderettes/hairdressers/tattoo, piercing or nail parlours/ public houses and petrol stations.Maximum Borrowing / Loan Amount
£2m up to 75% LTV / £750k up to 80% LTV / £500k up to 85% LTVMaximum Borrowing / Loan Amount
£2m up to 75% LTV, £1m up to 85% LTVMaximum Age at End of Term / Loan To Age
Applicants must not be aged 80 or over at term end.Maximum Age at End of Term / Loan To Age
The mortgage term must end before the 85th birthday of oldest applicantMaximum Age at Application
Applicants must not be aged 80 or over at term end. The minimum mortgage term is 5 years.Maximum Age at Application
79 years.Maternity/Paternity Leave/Pay
Income and employment details are not required.Maternity/Paternity Leave/Pay
Considered on return to work pay supported with a letter from employer confirming date maternity/paternity leave due to end along with terms and salary upon return to work.Married Couple Application in One/Single Name
Where married, in civil partnerships, co-habiting or where there is a financial dependency, applications should be submitted in joint names. Where it is a remortgage of a property already owned in a sole name, underwriter discretion can be applied.Mariners / Seafarers / Ships Crew / Captain
Will be considered where a track record of sustainable earning is available.Mariners / Seafarers / Ships Crew / Captain
Income and employment details are not required.Maintenance - Family Based Arrangement/Not Court Ordered
Not acceptedMaintenance - Family Based Arrangement/Not Court Ordered
Income and employment details are not required.London Weighting / Long Term Large Town Allowance
Income and employment details are not required.Lodger / Boarder / Rent a Room
Income and employment details are not required.Lodger / Boarder / Rent a Room
100% of lodger income taken in to account for remortgages evidenced by last three months bank statements.Local Authority Grant Scheme
This is not currently offered by Vida HomeloansLocal Authority Grant Scheme
This is not currently offered by Vida HomeloansLoan to Income Cap / Limit
Income and employment details are not required.Loan to Income Cap / Limit
Each loan needs to pass affordability assessment based on their expenditure. If the affordability assessment is passed, the maximum Loan to Income permitted is 6x Income.Live / Work / Mixed Use properties Units
Can be considered for use by the residential owner/applicant exclusively for their own business purposes subject to a maximum of 40% of the building floor area and that the property can be sold as a standard residence without significant modification or expenseLimited Company to a Sole Trader - Change of Trading Status
Acceptable and considered a continuation of Trading History. A declining profit may not be acceptable to the underwriter.Limited Company to a Sole Trader - Change of Trading Status
Acceptable and considered a continuation of Trading History. A declining profit may not be acceptable to the underwriter.Light Refurbishment
Acceptable subject to Valuer's comments.Light Refurbishment
At Underwriter’s discretion. This will be subject to the valuer’s comments, the extent of the works and whether the property will be readily lettable.Let to Buy
Vida can consider the BTL part of a Let to buy transaction as long as the customer owns other BTL properties. Please call and speak to a member of the V-Hub to discuss further.Let to Buy
The residential part of a Let To Buy transaction is not acceptable to Vida. Any existing residential properties must be sold if applying for a new residential purchase with Vida.Lending to Trusts / Trustees
This is not currently offered by Vida HomeloansLending to Trusts / Trustees
This is not currently offered by Vida HomeloansLending to Limited Companies
Limited Company lending is available for BTL only.Lending to Limited Companies
Applications accepted from SPVs that have been formed for the sole purpose of holding residential Buy to Let properties as assets. Trading limited company lending is not permitted. Please note that the SPV must be registered in England, Wales or Scotland and all directors and all classes of shareholder are required to provide joint and several guarantees. The SPV must not be a holding company or subsidiary, or have any subsidiaries or holding companies. We will consider SPV applications where a Bounce Back loan (BBL) or a Coronavirus Business Interruption Loan (CBIL) remains active (subject to our criteria).LENDING INTO RETIREMENT
Accepted. Maximum age at end of the mortgage term cannot exceed an applicant’s 85th birthday.Lending into retirement
Lending into Retirement is permitted in the following circumstances: Where the applicant is aged 50 or over at application the term cannot extend past their stated retirement age or 70th Birthday if using income for affordability assessment Where the applicant is aged under 50 at application and their stated retirement age is within 10 years (i.e. applicant is 46 and plans to retire at 55) the term cannot extend past their stated retirement if using income for affordability assessment Where the applicant is aged under 50 at application and more than 10 years from their stated retirement age the term can extend into retirement and their current income will be used for the affordability assessment where the applicants can evidence they have pension provisions in place Note: Where lending into retirement the applicants cannot have reached their 80th Birthday at term endLending in Retirement - Applicant Retired at Application
Accepted. The applicants cannot have reached their 85th Birthday at term end.Lending in Retirement - Applicant Retired at Application
An applicant with an employment status of “Retired” can only apply jointly with another applicant who derives income from either being employed or self-employed. Although the affordability assessment will reflect the “Retired” applicant’s credit commitments and expenditure, their respective Income(s) cannot be considered. Applicants age cannot exceed their 80th Birthday at term end.Lender Exposure Limits within a Development / Postcode / Area
Please contact our telephone V-Hub on 03300 246 246.Lend in Scotland
Yes - these postcodes are currently acceptable; AB (excluding 36-38, 55), DD, DG (excluding 13, 14, 16), EH, FK (excluding 18-21), G, IV (excluding 4, 13, 21-23, 26, 27, 29, 33-35, 37-63), KA (excluding 27, 28), KW (excluding 1-7, 11+) KY, ML, PA (excluding 20-80), PH (excluding 20-42) and TD (excluding 3, 5-12).Lend in Scotland
Yes - these postcodes are currently acceptable; AB (excluding 36-38, 55), DD, DG (excluding 13, 14, 16), EH, FK (excluding 18-21), G, IV (excluding 4, 13, 21-23, 26, 27, 29, 33-35, 37-63), KA (excluding 27, 28), KW (excluding 1-7, 11+) KY, ML, PA (excluding 20-80), PH (excluding 20-42) and TD (excluding 3, 5-12).Lend in Northern Ireland
This is not currently offered by Vida HomeloansLend in Northern Ireland
This is not currently offered by Vida HomeloansLend in England
YesLend Against / Finance Purchase of Land
This is not currently offered by Vida HomeloansLend Against / Finance Purchase of Land
This is not currently offered by Vida HomeloansLeasehold Remaining Term
For Capital & Interest loans there must be a minimum of 40 years lease remaining at the end of the mortgage term. Where Interest Only, there must be 70 years remaining.Leasehold Remaining Term
Capital & Interest loans need a minimum of 40 years lease remaining at the end of the term with Interest Only requiring 70 years remaining.Leasehold Flat / Apartment where applicant/s own part or all of the Freehold
Acceptable. Vida will register their charge on the Leasehold and the freehold title where the customer owns this solely.Leasehold Flat / Apartment where applicant/s own part or all of the Freehold
Acceptable. Vida will register their charge on the Leasehold and the freehold title where the customer owns this solely.Large Loans
Loans are available up to £2,000,000. See product rate sheets on websiteLandlocked Property / Easements / Rights of Way
This is not currently offered by Vida HomeloansKnock Through to Property Next Door / Renovations
This is not currently offered by Vida HomeloansKnock Through to Property Next Door / Renovations
This is not currently offered by Vida HomeloansKitchens - Number of / More than one
Must have one kitchen with the exception of MUBs. HMOs with more than 1 kitchen can be considered subject to valuers comments.Kitchens - Number of / More than one
Must have one kitchen. Where more than one this is acceptable if a separate annex, any other reason would be on a case by case basis.Joint Borrowers / Sole Proprietor
Yes. The Helping Hand proposition will allow Parents (including stepparents and parents of a spouse) and children (including step or adopted), siblings, grandparents, aunts, uncles, cousins and nieces/nephews) to support each other in purchasing or remortgaging a property, being party to the mortgage and having their income taken into account as part of the affordability assessment without the need to go onto the title deeds. See website for full details.Job Seeker's Allowance
Income and employment details are not required.Job Seeker's Allowance
Job Seekers allowance is not taken into consideration for income by Vida HomeloansJapanese Knotweed
Japanese Knotweed is acceptable if present within the boundary of the property or neighbouring properties (Category C or D). Where the Japanese Knotweed is located close proximity to the building (Category A or B ) or is severe we will only consider lending where there is a treatment plan in place.Japanese Knotweed
Japanese Knotweed is acceptable if present within the boundary of the property or neighbouring properties (Category C or D). Where the Japanese Knotweed is located close proximity to the building (Category A or B ) or is severe we will only consider lending where there is a treatment plan in place.Islamic Financing / Sharia Law
This is not currently offered by Vida HomeloansIslamic Financing / Sharia Law
This is not currently offered by Vida HomeloansISA as an Interest Only Repayment Vehicle
Acceptable. Stocks, Shares, ISA or other liquid investment. Declaration Form will be required clearly setting out the repayment strategy and amount(s) to be used.ISA as an Interest Only Repayment Vehicle
Acceptable. Stocks, Shares, ISA or other liquid investment. Declaration Form will be required clearly setting out the repayment strategy and amount(s) to be used.Investment Income
Accepted at 100% where supported by SA302 and corresponding tax year overviewInterest Only / Repayment Vehicle
Applicants require a suitable strategy to fully repay the outstanding mortgage balance at the end of the term. Acceptable repayment strategies are: Cash ISA or other savings‚ stocks, shares, ISA or other liquid investment‚ endowment policy‚ pension (personal, executive or employed pension plan). Sale of another mortgaged property. Downsizing (sale of the customer's main residence). Where downsizing, customers need a minimum amount of equity in the property at the end of the mortgage term in order to repay the mortgage debt and also feasibly purchase another property. £250,000 equity required at the start of the mortgage for all securities located within London and the South East of England‚ £175,000 for securities located in the rest of the UK. Other repayment strategies, including sale of other assets and occasional payments from income will be considered. An Interest Only Repayment Strategy Declaration Form will be required which clearly sets out the repayment strategy and amount(s) to be used.Interest Only / Repayment Vehicle
Available on all products up to product maximum LTV.Interest Only
Acceptable on all tiers up to 75% LTV and a maximum loan of £1m. Interest Only is not permitted where the applicants' are already retired or the mortgage term extends into retirementInterest Only
Available on all levels, up to product maximum LTVInherited Properties
Acceptable, Where the property has been inherited, the applicant(s) must be showing at land registry as the current owner.
Inheritance as an Interest Only Repayment Vehicle
No. Repayment strategies must be in place on or prior to completionIndustrial Injuries Disablement Benefit
Income and employment details are not required.INDIVIDUAL VOLUNTARY ARRANGEMENT (IVA)
Applicants will be considered on the whole of market range as long as they have been discharged for at least 3 years. In addition, on our Packager Exclusive Tier we will consider applicants discharged for at least 1 year. See Product Guide for full adverse details.INDIVIDUAL VOLUNTARY ARRANGEMENT (IVA)
Applicants will be considered on the whole of market range as long as they have been discharged for at least 3 years. In addition, on our Packager Exclusive Tier we will consider applicants discharged for at least 1 year. See Product Guide for full adverse details.INCOME MULTIPLE - AFFORDABILITY
Income and employment details are not required.Income Multiple - Affordability
The maximum allowable income multiple is 6x subject to affordabilityIncome from Trust Funds
Accepted at 100% where supported by SA302 and corresponding tax year overviewIncome from Trust Funds
Income and employment details are not required.In an Arrangement To Pay
Vida will consider Customers currently in DMP at Underwriter discretion subject to satisfactory affordability and conduct checks.In an Arrangement To Pay
Vida will consider Customers currently in DMP at Underwriter discretion subject to satisfactory affordability and conduct checks.Housing Benefit
Housing Benefit is not taken into consideration for income by Vida HomeloansHousing Allowance / Mortgage Subsidy from Employer
Accepted at 100%Housing Allowance / Mortgage Subsidy from Employer
Income and employment details are not required.HOUSES OF MULTIPLE OCCUPATION (HMO)
HMO's accepted up to 6 bedrooms. Applications considered where no previous landlord experience. Min Valuation £100,000. Vida solicitors to confirm that if required, any applicable Local Council HMO license is either in force, or applied for. Rental assessment is 125% for BRT's and Limited Companies, 140% for HRT's. We will be unable to accept any HMO properties that do not meet licencing or regulatory requirements. For example, where the property rooms sizes do not meet minimum size requirements, or the property has inadequate communal spaceHoliday Home
No but we will consider capital raising for the purpose of purchasing a holiday homeHigher Lending Charge
Not chargedHigher Lending Charge
Not chargedHelping Hand
Helping Hand is our Joint Borrower Sole Proprietor purchase and remortgage offer (either FTB or home-mover, excludes RTB). Parents (including stepparents and parents of a spouse) and children (including step or adopted), siblings, grandparents, aunts, uncles, cousins and nieces/nephews assisting each other to buy or remortgage a home by joining the mortgage without going on the title deeds. All incomes considered in affordability subject to usual rules.Help to Buy Equity Loan Scheme (2021-2023)
Vida does not currently have a HTB offering.Guardian's Allowance
This is not currently offered by Vida HomeloansGuarantors
Guarantors are not accepted, but we offer a joint borrower, sole proprietor product called Helping Hand where Parents (including stepparents and parents of a spouse) and children (including step or adopted), siblings, grandparents, aunts, uncles, cousins and nieces/nephews assisting each other to buy or remortgage a home by joining the mortgage without going on the title deeds. (See Helping Hand criteria for more details.)Guaranteed Income Payment / Forces
Income and employment details are not required.Government Support Schemes
Where an SPV has made use of any Government Financial Support Scheme, (e.g., CBILS or BBLS) the proceeds are not to be used to fund any part of the deposit. We may consider lending to an SPV that has an ongoing Support Scheme loan (BBL or CBIL) where: • The security ICR is greater than 140% • Maximum LTV 75% • At least one applicant has additional background properties with more than 1 year’s landlord experience. • The SPV must be profitable in its latest year. • Meet the criteria of our strongest credit tier (currently Vida 36)Gambling / Gambling Debts
Vida will not provide a remortgage to repay gambling debts.Gambling / Gambling Debts
Vida will not provide a remortgage to repay gambling debts.Full Vacant Possession required on Completion
Full vacant possession must be obtained at completionFull Vacant Possession required on Completion
Require full vacant possession. If there is a current tenant in the property who will remain upon completion, a current AST must be in placeFreehold Houses with Self Contained Flats
Multiunit properties are several properties on one freehold title i.e. a block of flats. MUBs can be considered subject to: Maximum six units‚ Minimum valuation of the whole block £175,000 (London & South East) and £125,000 rest of country‚ Block can only consist of flats i.e. no mixed units‚ Charge to be taken over the whole freehold.Freehold Houses with Self Contained Flats
Consideration will be given to properties with only one annex as long as it has shared services. Occupants of annex can only be family members on a long term basis or on a short term / holiday let basis.Freehold Flats / Maisonettes
Acceptable in Scotland or if a Coach House Flat in England & Wales. Otherwise not acceptable in England and Wales.Freehold Flats / Maisonettes
Acceptable in Scotland or if a Coach House Flat in England & Wales. Otherwise not acceptable in England and Wales.Foster Carer's Allowance
Income and employment details are not required.Foster Carer's Allowance
To be considered must be declared to HMRC via the submission of a SA302. Elements of this income is tax free (refer to HMRC’s website for up-to-date information) and should be keyed into the tax-free field on eFO. Any taxable income from this source will be shown on the SA302. It will be acceptable to assess foster care income using the filed tax return (in conjunction with the SA302), evidence provided by the local authority or agency covering the last 12 months.Foreign Currency Mortgage Lending
This is not currently offered by Vida HomeloansForeign Currency Mortgage Lending
This is not currently offered by Vida HomeloansForces Personnel
Acceptable, also accept 100% from Armed Forces compensation scheme.Forced Repossessions / Voluntary Possessions
Not accepted if repossessed in last 6 years.Forced Repossessions / Voluntary Possessions
Applicants will be considered on the whole of market range as long as the repossession was at least 6 years ago.Flying Freehold
Accepted where flying freehold is up to 25% of total floor space and the valuer confirms this does not have a material impact on demand, mortgageability and saleability.Flying Freehold
Accepted as long as flying freehold affects no more than 25% of total floor space and this does not have any material impact on demand mortgageability and saleability as per valuer's comments.Flats / Apartments with Deck / Balcony Access
Flats with balcony / Deck access allowed.Flats / Apartments with Deck / Balcony Access
Flats with balcony / Deck access allowed.Flats / Apartments in Converted Buildings
LTV's available up to scheme limits. High rise flats and those without a lift are subject to valuers comments on mortgageability & saleability.Flats / Apartments in Converted Buildings
LTV's available up to scheme limits. High rise flats and those without a lift are acceptable subject to valuers comments on mortgageability & saleability.Flats / Apartments above Food Outlets
Flats situated above or immediately adjacent to food outlets are acceptable up to 60% LTV subject to valuers comments on mortgageability and saleability.Flats / Apartments above Commercial Premises
Accepted up to 75% LTV. Properties situated next to restaurants, takeaways, dry cleaners, hairdressers, laundrettes, tattoo, piercing, nail parlours, public houses, petrol stations have a maximum LTV of 60%.subject to valuers comments on mortgageability and saleability.Flats / Apartments above Commercial Premises
Accepted up to 75% LTV. Properties situated next to restaurants, takeaways, dry cleaners, hairdressers, laundrettes, tattoo, piercing, nail parlours, public houses, petrol stations have a maximum LTV of 60%.subject to valuers comments on mortgageability and saleability.Flats / Apartments (Re-sale/Not New Build)
LTV's available up to scheme limits. High rise flats and those without a lift are conidered subject to valuers comments on mortgageability and saleability. Balcony access can be accepted. Ex-Local Authority/Housing Association/Ministry of Defence falts are acceptable up to a max LTV of 80%.Flats / Apartments (Re-sale/Not New Build)
LTV's available up to scheme limits. For Ex-Local Authority/Housing Association/Ministry of Defence are acceptable. Balcony access can be accepted. High rise flats and those without a lift are acceptable subject to valuers comments on mortgageability and saleability.Fixed Term Contracts - Employed
Income and employment details are not required.Fixed Term Contracts - Employed
Acceptable. Day 1 contractors considered with a minimum of 1-years track record of employment within the same line of work. Minimum 3 months remaining on current contract. For self employed, weekly rate x48 weeks. Where paid via an umbrella company or where employer pays both tax and NI, income verified via last 3 months payslips and most recent P60 if applicable. Applicants working in construction under Construction Industry Scheme (CIS) will be treated as self-employed [see CIS Contractors for details].First Time Landlord
First time landlords who currently own a residential property are accepted. Considered for HMO and MUB purchase.First Time Buyers
Applicants who do not currently own any property are acceptable. Considered for HMO and MUB purchase.First Time Buyers
Yes - a First Time Buyer is defined as an applicant who has never owned a residential property.First Time Buyer as Second Applicant
Applicants who do not currently own any property are acceptable. Considered for HMO and MUB purchase.Farm / Small Holdings
This is not currently offered by Vida HomeloansFarm / Small Holdings
This is not currently offered by Vida HomeloansFamily Gifted Deposit
Gifted deposits are accepted from close relatives and can be for the full deposit amount. Accepted from the following family members:
- Parents (including stepparents and parents of a spouse, where it is acceptable that the spouse is not party to the mortgage).
- Foster parent or legal guardian
- Siblings.
- Children.
- Grandparents.
- Aunts/Uncles
- Cousins.
- Nieces/Nephews.
- Step relatives.
- Spousal gifts are only permitted subject to genuine relationship split and suitable evidence being provided.
On all applications the persons providing the deposit will have to complete a form confirming they have no interest in the property and will not reside at the property. This form can be downloaded from our website.
We may require evidence, in the form of the front page of a bank or savings statement, showing the balance in a UK bank account and the donor’s name and address.
Family Gifted Deposit
Gifted deposits are accepted from close relatives and can be for the full deposit amount. Accepted from the following family members:
- Parents (including stepparents and parents of a spouse, where it is acceptable that the spouse is not party to the mortgage).
- Foster parent or legal guardian
- Siblings.
- Children.
- Grandparents.
- Aunts/Uncles
- Cousins.
- Nieces/Nephews.
- Step relatives.
- Spousal gifts are only permitted subject to genuine relationship split and suitable evidence being provided.
On all applications the persons providing the deposit will have to complete a form confirming they have no interest in the property and will not reside at the property. This form can be downloaded from our website.
We may require evidence, in the form of the front page of a bank or savings statement, showing the balance in a UK bank account and the donor’s name and address.
Family Business (Working For / Employed By)
Income and employment details will not generally be requested for self funding BTLs .Family Business (Working For / Employed By)
Acceptable. Will require confirmation via accountant. Additional supporting evidence such as bank statements may be requiredFamily Assisted Mortgage
Helping Hand is our Joint Borrower Sole Proprietor purchase and remortgage offer (either FTB or home-mover, excludes RTB).Parents (including stepparents and parents of a spouse) and children (including step or adopted), siblings, grandparents, aunts, uncles, cousins and nieces/nephews assisting each other to buy or remortgage a home by joining the mortgage without going on the title deeds. All incomes considered in affordability subject to usual rules. Also, if a family or friends want to buy together, will consider up to 4 incomes but all applicants must reside at the security address.Family Assisted Mortgage
No specific range for Family Assisted Mortgage however, gifted deposits can be acceptedExtension of Validity of Mortgage Offers
Vida’s standard offer is valid for 4 months. For New Build and Off Plan, initial offers are valid for 6 months. Extensions can be considered based on currently available products and will be subject to meeting the necessary reassessment criteria.Extension of Validity of Mortgage Offers
Vida’s standard offer is valid for 4 months. For New Build and Off Plan, initial offers are valid for 6 months. Extensions can be considered based on currently available products and will be subject to meeting the necessary reassessment criteria.Exposure Limits / Total Aggregate Borrowing on Portfolio with Other Lenders
No restriction on total portfolio size. The background portfolio must not exceed a total of 80% aggregate LTV and the overall rental coverage must be at least 125%Exposure Limits / Total Aggregate Borrowing on Portfolio with Other Lenders
Vida has no restriction on portfolio borrowing with other lendersExposure Limits / Total Aggregate Borrowing on Portfolio with Lender
Up to 20 properties with Vida or a total borrowing of £4m. Unlimited elsewhere.EXPERIENCED LANDLORD REQUIREMENTS FOR HMO/MUBs
Applicants with no previous landlord experience can be considered.Expenses
Expenses are not taken into consideration for income by Vida HomeloansExpatriates / Ex Pats PO Box Address
If the only available overseas address is a PO Box number, this will be acceptable where supported by confirmation from their employer via proof of address template and last 3 months payslips showing the salary credit into the bank accountExpatriates / Ex Pats Day 1 Return to UK
Where an Expat has had a DIP accepted within the last 6 months and has now returned to the UK, an application may be considered subject to meeting all other criteria. Alternatively a returning expat needs to have been based in the UK for the previous 2 yearsExpatriates / Ex Pats Day 1 Return to UK
Where an Expat has had a DIP accepted within the last 6 months and has now returned to the UK, an application may be considered subject to meeting all other criteria. Alternatively a returning expat needs to have been based in the UK for the previous 2 years.Expatriates / Ex Pats
Our Expat range is designed to help UK Nationals living and working abroad purchase or remortgage a rental property in the UK. For full details of our Expat range, including the full list of acceptable countries please see our Expat GuideExpat UK Credit Profile Required
Vida Homeloans requires 'Expat' applicants to have a UK credit profile. Applicants must be able to demonstrate they have at least 1 active CAIS account in the UK.Existing Second Charges Secured on Property
Will not permit a second charge to remain on a remortgage of a first charge other than for securing business overdraft facilities. A Deed of Postponement will be requiredExisting Second Charges Secured on Property
Will not permit a second charge to remain on a remortgage of a first charge unless it was for securing business overdraft facilities. We will require confirmation of this and a Deed of Postponement will be requiredExisting Borrowers
Further Advances and Porting are not currently availableExisting Borrowers
Further Advances and Porting are not currently availableEx-Council / Local Authority Houses
Ex-Council/Local Authority Houses are considered up to scheme and LTV limits as long as there is no outstanding pre-emption requirement to repay a proportion of the discount and is confirmed by our valuer to be a suitable security. Also, Wimpey No Fines houses (constructed after 1946 and not a bungalow) or a Laing Easiform house (constructed after 1946 and not a bungalow), are acceptable.Ex-Council / Local Authority Houses
Ex-Council/Local Authority Houses are considered up to scheme and LTV limits as long as there is no outstanding pre-emption requirement to repay a proportion of the discount and is confirmed by our valuer to be a suitable security. Also, Wimpey No Fines houses (constructed after 1946 and not a bungalow) or a Laing Easiform house (constructed after 1946 and not a bungalow), are acceptable.Ex-Council / Local Authority Flats / Maisonettes
Ex Council/LA flats/maisonettes are considered up to a max 80% LTV where predominantly still council owned and would be subject to valuers comments on mortgagability and saleability. Balcony access can be accepted. Flats require a minimum valuation of £80,000 and £200,000 in Greater LondonEx-Council / Local Authority Flats / Maisonettes
Ex Council/LA flats/maisonettes are considered up to a max 80% LTV where predominantly still council owned and would be subject to valuers comments on mortgagability and saleability. Balcony access can be accepted. Flats require a minimum valuation of £80,000 and £200,000 in Greater London.Estate Rent Charges
Cases are acceptable on the condition that following conditions are met:
1. The provisions under section 121 of the Law of Property Act have been excluded under the estate rent charge clause.
2. The estate rent charge clause includes a mortgagee protection clause, which states that notice of at least 28 days is to be given to the mortgagee prior to any enforcement action being taken by the owner of the estate rent charge.
3. The owner of the estate rent charge is a management company comprising of the residents, who are the shareholders of a private freehold development.
4. The current annual amount payable under any rent charge must not exceed £500 in present value.
EPC Rating
We require all BTL properties to have a valid Energy Performance Certificate (EPC) rating of E or above, unless a valid exemption has been registered. Any future legal change to the minimum EPC rating must be maintained for the full term of the mortgage.Endowment as an Interest Only Repayment Vehicle
Acceptable. Declaration Form will be required clearly setting out the repayment strategy and amount(s) to be used.Employment Current / History
Income and employment details are not required.Employment Current / History
There is no minimum time in current employment, however applicants need to provide at least 3 months’ employment history. A new job can be accepted from Day 1.Employment & Support Allowance / ESA
Income and employment details are not required.Employment & Support Allowance / ESA
Accepted at 50%Employer's Reference
No - Evidence of employment and income is normally assessed using last three months payslipsEmployer's Reference
Not required. If income needs to be proven, it is usually assessed using the last 3 months' payslipsEmployer 'Value Accounts'
Income and employment details are not required.Employer 'Value Accounts'
Employer 'Value Accounts' are not taken into account by Vida HomeloansEmployee Benefit Trusts (EBT)
Income and employment details are not required.Employee Benefit Trusts (EBT)
Employee Benefit Trusts are not taken into account by Vida HomeloansEmployed Director - Share in Business
Income and employment details are not requiredEmployed Director - Share in Business
Where a director has a shareholding of 25% or above, or joint borrowers holding a combined 25% or more, they will be classed as self-employed.Employed Applicants - Future Pay Rise Pending / Confirmed
Income and employment details are not required.Employed Applicants - Future Pay Rise Pending / Confirmed
Considered on a case by case basis. Supporting evidence will be required with pay rise due within 1 monthEMPLOYED APPLICANTS - FUTURE EMPLOYMENT PENDING / CONFIRMED
Income and employment details are not required.Employed - Proof of Income
Income and employment details are not required.Employed - Proof of Income
Last 3 months payslips. Last P60 must be provided for regular bonuses, overtime or commissions. Hand-written document and online payslips will be accepted with the corresponding bank statement to show the salary credit being made to the customer. If the customer provides online bank statements, these will need to be verified by the broker.Early Repayment Charges / ERCs
When the following terms are offered, ERC's will be payable on redemption within fixed period:-
7 year products 6%, 6%, 5%, 4%, 3%, 2%, 1% payable from completion
5 year products5%, 5%, 4%, 3%, 2% ERC payable from completion
2 year products 4%/3% ERC payable from completion
Early Repayment Charges / ERCs
When the following terms are offered, ERC's will be payable on redemption within fixed period:-
7 year products 6%, 6%, 5%, 4%, 3%, 2%, 1% payable from completion
5 year products5%, 5%, 4%, 3%, 2% ERC payable from completion
2 year products 4%/3% ERC payable from completion
Dividend Income in Retirement
Where an applicant is currently in receipt of dividend income and the loan term extends past their expected retirement age or 70th Birthday dividend income can be used only when the applicant is aged under 50 at application and / or more than 10 years to retirement.Dividend Income in Retirement
Income and employment details are not required.Discounted Market Sales / Section 106 / Section 75
This is not currently offered by Vida HomeloansDiscounted Market Sales / Section 106 / Section 75
This is not currently offered by Vida HomeloansDisability Living Allowance / DLA
Income and employment details are not required.Disability Living Allowance / DLA
Accepted at 50% for affordability purposesDirectors's Dividends
We will accept salary and dividends as a suitable source of income for directors for affordability purposes. Last year's net profit after tax can also be considered if 100% of shareholders are on the mortgage. Accounts will be required to support the application.Director's Loans
For self-employed applicants only (confirmation from a suitably qualified accountant will be required confirming the loan will not adversely affect the business).Director's Loans
A directors loan is not acceptable as a source of income. Directors Loan can be used as a source of deposit see criteria [Deposit from a Limited Company].Director's Dividends
Income and employment details are not required.Direct Debit Details
Payments to the mortgage account are to be made monthly by Direct Debit from a UK bank account in the applicants name. For SPV applications we require the direct debt to be drawn from a bank account that is held in the name of the SPV. Please provide a completed, signed and dated Direct Debit Mandate which can be found on our Documents page.Direct Debit Details
Payments to the mortgage account must be made monthly by Direct Debit from a UK bank account in the applicants name. Payments from Limited Companies will not be acceptedDeposit which is not coming from the UK
Can be considered- refer specific case enquiry to TBDM team: 03300 246 246Deposit which is not coming from the UK
Can be considered- refer specific case enquiry to TBDM team: 03300 246 246Deposit Sources - Unacceptable
Other borrowing is not an acceptable source of deposit funds nor is a gifted deposit from anyone not defined as a close relativeDeposit Sources - Unacceptable
Other borrowing is not an acceptable source of deposit funds nor is a gifted deposit from anyone not defined as a close relativeDeposit Sources - Acceptable
The applicants own funds Equity from the sale of a property Remortgage of a property already owned by the applicant Inheritence Directors loan for self employed applicants with confirmation from a qualified accountant that loan will not adversely affect business. Gifted Deposit - up to 100% from close relatives - parent and stepparents, grandparents, siblings, step relatives, children, foster parent or legal guardian, aunts and uncles, cousins, nieces and nephews Builder / Vendor - Accepted providing incentive does not exceed 5% and confirmation is received from the vendor/builder, confirming monetary value.Deposit Sources - Acceptable
Savings, Inheritence, Directors Loan, Family - Accepted from close relatives i.e. parent, grandparent, sibling, step relatives, child etc. First time buyers - full gifted deposits accepted. Builder / Vendor - Accepted providing incentive does not exceed 5% and confirmation is received from the vendor/builder, confirming monetary valueDeposit Source - Cryptocurrency / Bitcoin
This is not currently offered by Vida HomeloansDeposit Source - Cryptocurrency / Bitcoin
Vida cannot accept a deposit source from Cryptocurrency/BitcoinDeposit from a Limited Company
Acceptable. Written confirmation will be required from company accountant that the directors loan will not adversely affect the business and if any other shareholders / director in the business that they are aware and agree to the loan.Deposit from a Limited Company
We are unable to consider intercompany loans as a source of depositDependants
Dependants will be taken into consideration for Affordability Calculation.Dependant Relative Remortgage
This is not currently offered by Vida HomeloansDependant Relative Purchase
This is not currently offered by Vida HomeloansDefinition of / Classed as New Build
Vida Homeloans define a new build property as a property that has never been occupied and must have suitable warranty. (See Criteria Category \Warranties)". Properties in the course of construction and off plan will be considered on a 'finished basis' valuation with full retention of monies until property ready for occupationDefinition of / Classed as New Build
Vida Homeloans define a new build property as a property that has never been occupied and must have suitable warranty. (See Criteria Category \Warranties\")". Properties in the course of construction and off plan will be considered on a 'finished basis' valuation with full retention of monies until property ready for occupationDefaults
Applicants will be considered on the whole of market range as long as they have no defaults >£250 registered within the last 6 months. In addition, on our Packager Exclusive Tier we will consider applicants with even more recent adverse. See Product Guide for full adverse details.Defaults
Applicants will be considered on the whole of market range as long as they have no defaults >£250 registered within the last 6 months. In addition, on our Packager Exclusive Tier we will consider applicants with even more recent adverse. See Product Guide for full adverse details.DEBT MANAGEMENT PLANS (DMP)
Vida will consider Customers currently in DMP at Underwriter discretion subject to satisfactory affordability and conduct checks.DEBT MANAGEMENT PLANS (DMP)
Vida will consider Customers currently in DMP at Underwriter discretion subject to satisfactory affordability and conduct checks.Day 1 Remortgage / 6 month rule
Vida Homeloans may consider Day 1 remortgages.CSA / Child Maintenance Service Payments
Income and employment details are not required.CSA / Child Maintenance Service Payments
Accepted at 100% where court orderedCriminal Record
Applicants with a criminal record can potentially be accepted where such convictions are related to a minor traffic offence or have been spent under the Rehabilitation of Offenders Act of 1974.Criminal Record
Applicants with a criminal record can potentially be accepted where such convictions are related to a minor traffic offence or have been spent under the Rehabilitation of Offenders Act of 1974.Credit Scored
No Credit Scoring usedCredit Scored
Vida does not credit score applicationsCredit Repair for Adverse Credit
Vida offers a full range of products to those with Adverse Credit. See product guides on website for full details.Credit Repair for Adverse Credit
Vida offers a full range of Credit Repair products catering for varying levels of adverse. See Product Guide on Vida website for full adverse grid.Credit Referencing Agency Used
Experian, Call CreditCredit Referencing Agency Used
Experian, Call CreditCredit Commitments / Debts To Be Repaid
Income and employment details are not required.Credit Commitments / Debts To Be Repaid
If new loan is only affordable once the old debt is cleared, it will be made a condition of the offer that it must be repaid.Credit Checked / Searched
Yes. Cascade underwriting up and down resulting in the right product and rate for your customer.Credit Checked / Searched
Yes. Cascade underwriting up and down resulting in the right product and rate for your customer.Credit Card Balances
Income and employment details are not required.Credit Card Balances
For each credit card commitment, 3% of the current balance showing on the credit search will be annualised and deducted unless customer can provide evidence that each card has been fully repaid each month for a period of 3 monthsCREDIT CARD / REVOLVING CREDIT ARREARS
Vida will allow a maximum of 3 missed payments >£250 in last 6 months on the whole of market range. On Vida's Packager Exclusive Tier there is no cap to the maximum amount (£) of missed/ late payments. See Product Guide for full adverse detailsCredit Card / Revolving Credit Arrears
Vida will allow a maximum of 3 missed payments >£250 in last 6 months on the whole of market range. On Vida's Packager Exclusive Tier there is no cap to the maximum amount (£) of missed/ late payments. See Product Guide for full adverse detailsCourt Ordered Child Maintenance
Income and employment details are not required.Court Ordered Child Maintenance
Accepted at 100%County Court Judgements/CCJ's
Vida offers 3 tiers of products for BTL based on varying levels of adverse. Please view Buy to Let Product Rates Guide on Vida website for detailed informationCOUNTY COURT JUDGEMENTS / CCJ'S
Applicants will be considered on the whole of market range as long as they have no CCJs >£250 registered within the last 6 months. In addition, on our Packager Exclusive Tier we will consider applicants with even more recent adverse. See Product Guide for full adverse details.COUNTY COURT JUDGEMENTS / CCJ'S
Applicants will be considered on the whole of market range as long as they have no CCJs >£250 registered within the last 6 months. In addition, on our Packager Exclusive Tier we will consider applicants with even more recent adverse. See Product Guide for full adverse details.CORPORATE LET / Non-Assured Shorthold Tenancy Agreement
Accepted. Will however require sight of the Corporate Letting / Non-Assured Shorthold Tenancy Agreement in order to consider fully.Corporate Let
Accepted. Will however require sight of the Corporate Letting Agreement in order to consider fully.Convictions
Not accepted unless the conviction is for a minor traffic offence or unless it is a spent conviction under the Rehabilitation of Offenders Act 1974.Convictions
Not accepted unless the conviction is for a minor traffic offence or unless it is a spent conviction under the Rehabilitation of Offenders Act 1974.Contract Workers
Acceptable. Day 1 contractors considered with a minmum of 1-years track record within the same line of work. Minimum 3 months remaining on current contract. Day rate x48 weeks for self employed. Umbrella contractors considered.Consumer Buy To Lets / BTL
We will only accept borrowers who are intending to invest for capital growth or receive income from rental yield - For more details, please click here
Consumer Buy To Lets / BTL
We will only accept borrowers who are intending to invest for capital growth or receive income from rental yield - for more details, please click here
Construction Types - Acceptable
Panellist Construction Systems Structural Insulated panels (SIPS) are acceptable. Insulating Concrete Form Work (ICF) also known as Permanent Insulated Form Works subject to BOPAS Accreditation, BPS2020 and UK Agreement Certificate. Also subject to a 60 years minimum design life assessment and must have outer skin of brick, block or stone. Timber frame with a brick or block outer frame is acceptable. Steel frame post 2000 construction. Wimpey No Fines if constructed after 1946. Laing Easyform if constructed after 1946.Construction Types - Acceptable
Panellist Construction Systems Structural Insulated panels (SIPS) are acceptable. Insulating Concrete Form Work (ICF) also known as Permanent Insulated Form Works subject to BOPAS Accreditation, BPS2020 and UK Agreement Certificate. Also subject to a 60 years minimum design life assessment and must have outer skin of brick, block or stone. Timber frame with a brick or block outer frame is acceptable. Steel frame post 2000 construction. Wimpey No Fines if constructed after 1946. Laing Easyform if constructed after 1946.Constant Attendance Allowance
Income and employment details are not required.Consent To Let
Accepted. £100 fee payable.CONCESSIONARY PURCHASE / PURCHASE AT UNDERVALUE
Vida can consider a concessionary purchase / purchase at undervalue in the following circumstances:
- Only permitted from a close family member OR from a landlord if the purchasers have been living at the property for 12+ months
- For family purchases, can consider lending up to 100% of the discounted purchase price as long as this doesn’t exceed 75% of the open market value.
- For purchases from landlord, can consider lending up to 95% of the discounted purchase price as long as this doesn’t exceed 75% of the open market value. Minimum 5% deposit must be provided.
- Discount from a landlord must be plausible, taking into consideration the length of time the purchasers have been living at the property.
- Gifted equity is not acceptable.
CONCESSIONARY PURCHASE / PURCHASE AT UNDERVALUE
Vida can consider a concessionary purchase / purchase at undervalue in the following circumstances:
- Only permitted from a close family member.
- Can consider lending up to 100% of the discounted purchase price as long as this doesn’t exceed 75% of the open market value.
- The current vendor must not reside in the property after completion. Evidence will be required.
- If there is a current mortgage on the property, proof of payments will be required to ensure it’s not a distressed sale.
- Not acceptable if the purchaser is an SPV Ltd Co.
- Gifted Equity is not acceptable.
Company Directors based / working Overseas
Accepted. Lending to SPVs where registered in England, Wales and Scotland and at least one Director/ Shareholder is resident overseas as an Expat. All directors can be overseasCompany / Occupational Pension
Accepted at 100% where applicants are currently employed or self-employed. Note: If applicant is already Retired no income for that applicant can be used for the affordability assessment.Company / Occupational Pension
Income and employment details are not required.Commission Only Basis Employment
Income and employment details are not required.Commission Only Basis Employment
This is not currently offered by Vida HomeloansCommission / Profit Related Pay
Income and employment details are not required.Commission / Profit Related Pay
75% of regular Commission and Profit Related Pay is accepted (providing evidence is supplied).Coal Mining Authority Reports
Required in certain areas of the country.Coal Mining Authority Reports
Required in certain areas of the country.Coach House Flats
Acceptable where located above enclosed garage spaces where the garages are on long leases and number does not exceed 4. The insurance figure stated within the report should also include the main walls to the leased garages.CIS Contractors
"Applicants working in construction under Construction Industry Scheme (CIS) will be treated as self-employed and the relevant income verification will be required. Applicants must have: - Minimum 12 months self-employment - Provide the latest 12 months CIS payslips / invoices. - OR provide the latest SA302 and Tax Year Overview (TYO) which will be used to assess income for affordability. SA302 must be no more than 18 months old. - Provide the latest 3 months pay-slips (or equivalent e.g., invoices) required to evidence income is continuing at a similar level"Childcare Costs
Childcare costs will be considered in the assessment of affordability.Child Tax Credits
100% accepted (cannot be main source of income) however each application will be considered individuallyChild Benefit
Accepted at 100%, please visit our affordability calculator for more details Child Benefit income can only be used where all applicants on the application earn less than £60k and the child does not exceed 11 years old at mortgage completionCertifying Documents – ID & POR
All documents provided for proof of ID or residency are required to be certified.
To certify a document please add the name of the certifier, the date (no more than 3 months old) and signature of the certifier. If the certifier is not the intermediary please add the job title and company stamp on the first page.
Please also include one of the following statements:
For documents that contain a photo:
I certify that this is a true copy of the original document, and the photo is a true likeness.
For documents that don't contain a photo:
I certify that this is a true copy of the original document.
Certifying Documents – ID & POR
All documents provided for proof of ID or residency are required to be certified.
To certify a document please add the name of the certifier, the date (no more than 3 months old) and signature of the certifier. If the certifier is not the intermediary please add the job title and company stamp on the first page.
Please also include one of the following statements:
For documents that contain a photo:
I certify that this is a true copy of the original document, and the photo is a true likeness.
For documents that don't contain a photo:
I certify that this is a true copy of the original document.
Cash Reserve / Facility for Additional Funds
This is not currently offered by Vida HomeloansCash Reserve / Facility for Additional Funds
This is not currently offered by Vida HomeloansCarer's Allowance
Accepted at 50%Car Allowance
100% accepted where paid as part of salary.Capital Raising - Purchase of Land
Consideration will be given for any legal purpose including land purchaseCapital Raising - Purchase of Land
Consideration will be given for any legal purpose including land purchaseCapital Raising - Home Improvements
Remortgage allowed for any legal purpose including; Home Improvements, School Fees, Debt Consolidation. Excludes speculative investments, Gambling Debts etcCapital Raising - Business Purposes
Remortgage with capital raising is not available for business purposes other than capital raising for a BTL property.Capital Raising - Business Purposes
Remortgage allowed for any legal purpose including deposits for BTL properties, Business purposes (Professional), debt consolidation. Excludes speculative investments.Capital Raising
Remortgage allowed for any legal purpose. Capital Raising excludes business finance, speculative investments, gambling debts and purchase of time share.Capital Raising
Remortgage allowed for any legal purpose. Capital Raising excludes business finance, speculative investments, gambling debts and purchase of time share.Cabin Crew / Flight Attendants
Income and employment details are not required.Cabin Crew / Flight Attendants
Will be considered where a track record of sustainable earning is availableBuilding Use Classes
C3 (a), (b) and (c) are acceptable. Any other Building Use Classes are unsuitable for security.Building Use Classes
C3 (a), (b) and (c) are acceptable. Any other Building Use Classes are unsuitable for security.Builder Part Exchange Transactions
This is not currently offered by Vida HomeloansBuilder Part Exchange Transactions
This is not currently offered by Vida HomeloansBuilder Gifted Deposit
Accepted providing incentive does not exceed 5% and confirmation is received from the vendor/builder, confirming monetary value. Maximum 5% of the total amount of the Incentives as declared on the UK Finance Disclosure Form.Builder Gifted Deposit
Acceptable up to 5% of the total purchase price.Builder Cash Incentives
Acceptable. Maximum 5% of the total amount of the Incentives as declared on the UK Finance Disclosure Form.Builder Cash Incentives
Acceptable up to 5% of the total purchase price.British National Working Abroad / Offshore / Overseas
Our Expat range is designed to help UK Nationals living and working abroad purchase or remortgage a rental property in the UK. For full details on our Expat range, including the full list of acceptable countries please see our Expat GuideBritish National Working Abroad / Offshore / Overseas
Please refer for considerationBorrow Back Facility
This is not currently offered by Vida HomeloansBooking / Application / Processing Fees
All Standard Vida products come with a non refundable application fee of £195. At times the range may include Fee Saver products where no application fee is payable.BONUS
Accepted at 100% where satisfactory evidence of regularity and sustainabilityBISF Properties - Non Standard Construction
This is not currently offered by Vida HomeloansBISF Properties - Non Standard Construction
This is not currently offered by Vida HomeloansBereavement Allowance
Income and employment details are not required.Bereavement Allowance
Bereavement allowance is not taken into account by Vida HomeloansBelow Market Value Purchase / BMV
Acceptable, where property is being purchased from a close relative, or a long standing tenant buying from their landlord . Maximum advance 100% of discounted purchase price or 75% of market valuation (whichever is the lower) unless long-term tenant buying from their landlord the maximum advance is 95% of discounted purchase price (With applicant providing at least 5% deposit.) or 75% of market valuation (whichever is lower).Below Market Value Purchase / BMV
Acceptable, where property is being purchased from a close relative, or a long standing tenant buying from their landlord . Maximum advance 100% of discounted purchase price or 75% of market valuation (whichever is the lower) unless long-term tenant buying from their landlord the maximum advance is 95% of discounted purchase price (With applicant providing at least 5% deposit.) or 75% of market valuation (whichever is lower).Barn Conversions
Considered subject to valuers comments and underwriter discretionBarn Conversions
Considered subject to valuers comments and underwriter discretionBankruptcy / Sequestration
Applicants will be considered on the whole of market range as long as they have been discharged for at least 3 years. In addition, on our Packager Exclusive Tier we will consider applicants discharged for at least 1 year. See Product Guide for full adverse details.Bankruptcy / Sequestration
Applicants will be considered on the whole of market range as long as they have been discharged for at least 3 years. In addition, on our Packager Exclusive Tier we will consider applicants discharged for at least 1 year. See Product Guide for full adverse details.Bank Statements
Not required in the majority of cases. If bank statements are required to support the case they will be requested on an individual basisBank Statements
In most cases yes. If bank statements are required to support the case this will be requested on an individual basisBank Overdraft Limits / Conduct / Usage
Acceptable as long as the overdraft limit is not exceeded.Bank Overdraft Limits / Conduct / Usage
Acceptable as long as the overdraft limit is not exceeded.Back to Back Purchase Transaction / Minimum Time of Ownership by Vendor
Vida Homeloans does not have a minimum remortgage waiting period. Vida Homeloans may consider back to back remortgagesBack to Back Purchase Transaction / Minimum Time of Ownership by Vendor
Vida Homeloans does not have a minimum remortgage waiting period. Vida Homeloans may consider back to back remortgagesAttendance Allowance
Income and employment details are not required.Attendance Allowance
This is not currently offered by Vida HomeloansAssured Shorthold Tenancy Agreement (ASTA) / Tenancy Requirements
We accept AST/PRT/Standard Occupation Contracts; Student lets; Corporate lets providing they are let directly to a registered provider of social housing or a Public Limited Company (PLC). No limit on duration of a Corporate letAssignable Contracts
This is not currently offered by Vida HomeloansArchitect's Certificate / Professional Consultant
An architect's certificate / Professional Consultant Certificate is not acceptable. See “New Build Warrranties” for details of approved providers.Architect's Certificate / Professional Consultant
An architect's certificate / Professional Consultant Certificate is not acceptable. See “New Build Warrranties” for details of approved providers.Applications from Property Developers / Builders
Will be considered on individual meritApplications from Property Developers / Builders
Will be considered on individual meritApplicants Paid in a Foreign Currency / Not Sterling
This is not currently offered by Vida Homeloans.Applicants Paid in a Foreign Currency / Not Sterling
This is not currently offered by Vida HomeloansApplicant with Diplomatic Immunity
This is not currently offered by Vida HomeloansApplicant with Diplomatic Immunity
This is not currently offered by Vida HomeloansApplicant with a Power of Attorney
Vida can potentially consider an application from someone acting as a Power of AttorneyApplicant with a Power of Attorney
Vida can potentially consider an application from someone acting as a Power of Attorney.Applicant living in Tied Accommodation
This is not currently offered by Vida HomeloansApplicant living in Tied Accommodation
Vida cannot accept applications where living in Tied AccommodationAll Benefits No Earned Income
Income and employment details are not required.All Benefits No Earned Income
One of the applicants needs to be employed or self-employed and earning a minimum of £15,000 per annum. Additional applicants may have all income derived from acceptable benefits.Agricultural Ties / Restrictions
This is not currently offered by Vida HomeloansAgricultural Ties / Restrictions
This is not currently offered by Vida Homeloans.Agency Contractors
Applicants considered where a 1 year track record of sustainable earnings.Age Gap Between Applicants
There are no restrictions on the age gap between applicants as long as term ends before any applicant has their 80th Birthday.Age Gap Between Applicants
There are no restrictions on the age gap between applicants as long as term ends before any applicant has their 80th Birthday.Affordable Housing
This is not currently offered by Vida Homeloans.Affordability Calculator
Affordability calculator looks at net Income/committed expenditure/monthly basic and quality of living expenditure using modelled data from ONS.Affordability Calculator
An affordability calculation is on the website to give an indication of the maximum loan available. See website for ICR requirements.Adviser's Own Mortgage Application / Conflict of Interest
This is not currently offered by Vida HomeloansAdviser's Own Mortgage Application / Conflict of Interest
This is not currently offered by Vida HomeloansAdoption Allowance
Vida is unable to take Adoption allowance into considerationAdditional Borrowing
Additional borrowing to the main loan is not permittedAdditional borrowing
Borrowing in addition to the main loan is not permitted.Add Lender's Fees to Loan
Product fees can be added at all LTVs except 90%. For Interest Only Mortgages, maximum LTV is 75%.Add Lender's Fees to Loan
Fees can be added at all LTVs except when offered at 85%. Can go above the LTV but must not exceed maximum loan limits.Add Fees to Loan above LTV
Fees can be added to all LTVs except 85%. Can go above the LTV but must not exceed maximum loan limits.Add Fees to Loan above LTV
Product fees can be added above LTV for the chosen product except where at 90% LTV. Interest Only has a maximum LTV of 75% including fees.Add Broker / Adviser Fees to Loan
This is not currently offered by Vida HomeloansAdd Broker / Adviser Fees to Loan
Adviser fees cannot be added to the loan.Accountant's Projection
Income and employment details are not requiredAccountant's Projection
Accountants projections will not be taken in to account when assessing affordabilityAccountant's Letter / Reference / Certificate - Required
Income and employment details are not requiredAccountant's Letter / Reference / Certificate - Accepted
Income and employment details are not required.Accountant's Letter / Reference / Certificate - Accepted
Accepted. Must have Accountants practice stamp or be on letter headed paperAccountant Qualification
- ACA
- FCA
- ACCA
- FCCA
- AAPA
- FAPA
- ACMA
- FCMA
- MAAT
- FMAAT
- CTA
- AIA
- IFA
If the Accountant does not hold one of these qualifications we will require SA302s and the Tax Year Overview for Sole Traders or Partnerships. For Limited Companies the accountants certificate must be reviewed and signed by an accountant with a recognised qualification.