Compare Criteria

Vida Homeloans

Mortgage Type


Property Value (min)

£70,000 for all property types Ex Local authority flats/maisonettes (80% LTV) £80,000 outside Greater London, £200,000 within.

Advance (min)


Advance (max)

£500,000 up to 85% LTV

£750,000 up to 80% LTV

£1,000,000 to 75% LTV

£1,500,000 up to 70% LTV

100% debt consolidation is considered up to a maximum of 75% LTV

Help to buy limits: - £600k England / London, £300k Wales, £200k Scotland

Term (Max)

40 years

Minimum Age

21 years Above 85% LTV, applicants need to be at least 25 with a minimum property valuation of £100,000.

Maximum Age

Maximum retirement age for any applicant is 70 years. Plausibility for working to loan maturity should be evidenced in all cases. Vida as an interim measure, will not lend if applicant/s are in receipt of pension income or beyond Retirement Criteria maximum age of 70 at the end of the term, or age at end of term is beyond customer’s expected retirement age (whichever is the sooner). Applicable to all individual applicants e.g. if more than one applicant on the application

Family Cash Gift Deposit

Accepted from close relatives, ie parents, grandparent, sibling, step relatives, child.

Family Gift of Equity Deposit

Considered when the property is being purchased from a close relative only - 5% required by the applicants

Income (min)

£15,000 for applicant 1, not joint.


Debt consolidation - Available up to 75% LTV excluding fees. Above 70% LTV, debt consolidation is limited to 50% of the capital raising amount

DWP Tenants


Ex-Local Authority Properties

Houses are considered up to scheme and LTV limits.
Flats and maisonettes considered up to 80% LTV with minimum property value of £80,000 (£200,00 in Greater London).

Minimum years remaining on leasehold property

C&I loans minimum of 40 years lease remaining. I/O 70 years remaining

Minimum Ownership

6 months -If less than 6 months, will allow remortgaging from bridging finance provided by other lenders including the roll up of interest and lender fees. Capital raising is not accepted

Permanent rights to reside and remain

All applicants must provide 3 years address history. All UK and EEA applicants must provide at least 2 years residential address history in UK.

If married at least one applicant must have permanent rights to reside or indefinite leave to remain, both would need to be applicants on the mortgage but affordability must fit on only the applicant with permanent rights to reside or indefinite leave to remain.

All Non EEA Nationals must be resident in the UK for the last 2 years and have permanent right to reside in the UK.

New Builds

Accepted up to scheme levels. Vida Homeloans define a new build property as a property that has never been occupied and must have suitable warranty
Properties in the course of construction and Off Plan will be considered on a ‘finished basis’ valuation with full retention of monies until the property is ready for completion.
Offers are valid for 6 months which can be extended for up to a further 6 months on the same product subject to credit search, affordability and re-valuation (£96). Monies will be released following provision of a completion certificate.

Credit Score

Customer should achieve a low cut off score to be considered for the range. Vida then select a tier based on exact credit profile, not score, for transparency.

Historic CCJ’s & Defaults

Vida 1, No registered CCJs OR Defaults in the last 24 months. No Unsatisfied CCJs

Vida 2, 1 Registered CCJ or 1 Defaults in the last 24 months ( 0 in last 18 months of £250 or more). No Unsatisfied CCJs

Vida 3, 2 registered CCJs or Defaults in last 24 Months (0 in the last 12 months of £250 or more). Max £5000 unsatisfied CCJs

Vida 4, 3 Registered CCJs or Defaults in the last 24 months (including max 2 unsecured defaults) (0 in the last 9 months of £500 or more) Max £5000 unsatisfied CCJs

Vida 5, 4 Registered CCJs or Defaults in last 24 months (including max 3 unsecured defaults) (0 in last 6 months of £500 or more) Max £5000 unsatisfied CCJs

Valuation Fees

Paid direct to lender and related to lender fee scales

Maximum number of applicants

4 applicants (all 4 incomes considered)


Will lend in England, Scotland and Wales


Access to Vida Homeloans is through a selective panel of packagers, one of which is 3mc

Missed mortgage payments

Vida 1, 0 missed mortgage/secured loan payments in the last 36 months, Maximum worst status, 1 in 36 months. Vida 2, 0 missed mortgage/secured loan payments in the last 12 months, maximum worst status, 1 in the last 24 months. Vida 3, 0 missed mortgage/secured loan payments in the last 12 months, maximum worst status, 2 in the last 24 months. Vida 4, 0 missed mortgage/secured loan payments in the last 9 months, maximum worst status, 2 in the last 24 months. Vida 5, 0 missed mortgage/secured loan payments in the last 6 months, maximum worst status, 3 in the last 24 months.

Property Type / Commercial

Flats LTV's available up to scheme limits. High rise flats must have a lift if over 4 floors (Ground+ 3 floors).
High quality flats over 10 storeys (maximum 20) can be referred for underwriter consideration based on valuer’s comments on mortgageability & saleability

Flats above commercial Flats situated above commercial premises: Max 75% LTV
premises Flats situated above restaurants/ takeaways/ public houses/launderettes: Max 60% LTV

New Build 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

Properties off-plan Not accepted

Max LTV Up to scheme limits except where restrictions apply

Flat Roofs Accepted

Solar Panels Consent to roof space leases for the installation of photovoltaic (solar) panels, can be agreed subject to the joint CML and BSA published minimum requirements being met

Limited Companies & Partnerships
Minimum & Maximum Number Minimum 1
of Shareholders/Directors Maximum 4

Business Classification • 68100 Buying and selling of own real estate
SIC Codes) for SPV's only

• 68209 Other letting and operating of ow n or leased real estate
• 68320 Management of real estate on a free or contract basis
• 68201 Renting and operating of Housing Association real estate

Company Registration England & Wales Only
Trading Companies Acceptable. If existing Limited Company trading under a different SIC code, 1 year’s Accounts & SA302 required


Will lend in England and Wales

Type of Credit Search conducted at AIP stage

Soft foot print

Shared Ownership


Right to Buy (RTB)

Purchase only.
Acceptable for schemes operated by recognised local authorities / housing associations.
Vida can consider high rise - refer to lender.
Purchase up to 100% Discounted Purchase Price and subject to the loan not exceeding 75% of the OMV.
A copy of the Section 125 Right to Buy is required, giving details of the property valuation and the discount offered.
All persons named on the Section 125 will also need to be on the application

Debt Management Plan

Yes, providing its been satisfactorily conducted

Help To Buy (Shared Equity)

Please see our quick reference tab and click on Help to Buy to view full criteria.
Available up to 80% LTV for a Scottish purchase, 75% in England, London & Wales
Up to 85% LTV remortgage when staircasing on all schemes, min equity increase is 10% in England, London & Wales, 5% in Scotland
New Build criteria - fast-tracked initial offer lasting 6 months, extendable by another 6
Minimum income £15,000
Gifted deposits accepted, builders incentives considered
Impaired credit history considered - see product guide
Self employed minimum 1-year trading
Contractors & short work history


None in the last 6 years


None in the last 6 years


No repossessions within the last 10 years

Payday Loans

Refer - cannot show a reliance on them

Repayment Types

Capital & Interest loans up to 90% LTV. Interest Only up to 70% across all tiers.

Lenders completion fee

Can be added to the loan above max LTV


Affordability based


Employed for at least 3 months. 100% of the following; Income from trust funds, Rental Profit, Investment incomer supported by SA302, Occupational pension income, Second and other jobs providing 12 months record, Car allowance, shift allowance, London/Large Town Allowance, Housing allowance. 75% of the following; Regular annual/monthly bonus. 50% of the following; Non regular bonus & commission, Overtime or Profit related pay, Universal credit/child/working tax benefit, Income related employment and support allowance, Disability/Carers allowance.

Self Employed

Minimum 12 months trading period with 1 years accounts or SA302 and tax year overview.

Self-employed contractor affordability assessed on Day Rate x 46 weeks

Share of Dividends Yes
Share of Directors remuneration Yes
Share of directors car allowances Yes
Share of directors pension contributions Yes
Share of use of home as office Yes
Share of private health insurance No
Share of spouse's income (sole app) No
Operating profit No
Retained net profit No