New mortgage criteria introduced by Vida Homeloans.
New mortgage criteria have been introduced by Vida Homeloans.
Vida offer their loans through broker channels and as such, we at Deal Direct pass on your feedback directly to them.
This is where working with us can prove to be extremely useful as we can apply pressure to lenders on your behalf, pointing out where there is a need that is being underserved. In this case, Vida have made changes to both its buy to let mortgage as well as its specialist residential ranges.
This means that, if you are a first time buyer, you can now apply for a mortgage at up to a new maximum of 90% LTV.
If you are interested in a Right to Buy loan, there is now a new maximum loan amount of £1.5m.
The changes that have been made to its buy to let range would appeal mostly to landlords with portfolios of up to 15 properties.
As a mortgage hunter, if there is a specific loan that you cannot find, consulting with Deal Direct can help you source exactly what you need. If there’s a specific lender that appeals to you but they don’t have a product that matches what you want, we are ideally placed to be able to feed that back to them. We can also find you a lender who does have a product that suits your requirements. This is because we are a ‘whole of market’ broker and are not restricted to offering products from a small panel of lenders.
Greater choice means an increased likelihood of finding your ideal home financing solution.