Vida Homeloans

Mortgage Type

Specialist BTL/Commercial

Property Value (min)

Single residential units - £50,000 up to 70% LTV.
Over 70% LTV, minimum valuation of £70,000 applies.
HMO - £100,000
MUB - £175,000 in L&SE, £125,000 in all other locations.
Ex Local authority flats/maisonettes min £80k outside London, £200k in Greater London up to 80% LTV.

Advance (min)

£100,000 - supersedes all minimum property values

Advance (max)

Excludes FTB/ FTL and properties within the M25
£250,000 to 85% LTV - Property Type dependent.
£750,000 to 80% LTV - Property Type dependent. (Max LTV in Scotland)
£1,000,000 to 75% LTV
£1,500,00 to 70% LTV

Term (Max)


Minimum Age

21 (Primary applicant), 18 for all other applicants if a direct family member

Maximum Age

85 at the end of the term as standard (not a company structure). 95 at the end of the term for company BTL

Family Cash Gift Deposit

Accepted from close relatives, ie parents, grandparent, sibling, step relatives, child and spouse etc

Family Gift of Equity Deposit

Considered when the property is being purchased from a close relative only - 5% required by the applicants Gifted Deposits 100% gifted deposits considered from the following family members: spouse/partner, parent, child, grandparent, sibling, step relatives, foster parent or legal guardian. Overseas Deposit Deposits from an overseas account can be considered on a case by case basis Builder deposit/incentive Acceptable up to 5% of the purchase price on new build properties Purchase at Undervalue Acceptable where purchasing from a close relative, or a long-term tenant buying from their landlord Inter Co Loans - unable to consider intercompany loans as a source of deposit

Income (min)

No minimum income


a. Maximum 20 properties up to a maximum portfolio £4m exposure with Vida per borrower. No maximum number of properties in portfolio size outside of Vida, but overall portfolio average of 80% LTV, regardless of lender.

b. Ltd Co (including trading companies), and SPVs acceptable across standard range with no extra rate loadings or fees. Ltd Company trading under a different SIC code, 2 years trading, 1 years accounts & SA302 required -
Directors Loans accepted for deposit purposes – Vida will require a fixed and floating charge for Trading Limited Companies. Vida can also consider using retained profit for deposit purposes.

Applicants with no previous experience can be considered for HMOs and MUBs.
HMOs can have up to 6 bedrooms and a minimum valuation of £100,000.
MUBs can have up to 6 self-contained units on a single freehold title - flats only.

c. HMO - At least one of the applicants must have a minimum of 12 months’ landlord experience. Up to 8 bedrooms. Minimum value £100,000.

d. Multi Units: - Up to 5 self-contained units on a single freehold. Minimum £175,000 for the freehold block in L&SE, £125,000 in all other regions. At leaser one applicant must have a minimum of 12 months’ landlord experience. From 130% rental cover

e. Corporate lets: acceptable providing they are let directly to a registered provider of social housing or Public Limited Companies (PLC). No limit on duration

Vida will accept SPV applications where a Bounce Back loan (BBL) or a Coronavirus Business Interruption Loan (CBIL) remains active - subject to underwriter discretion

Let to Buy (Turning Residential into Buy to Let)

Accepted, providing customer confirms that the property is being let out for investment purposes. Vida can lend on both the BTL and/or residential loan

If BTL is with another lender, we require a copy of the offer. Vida requires a simultaneous completion of a new residential for a Let to Buy. If this is not the case then the applicant is required to be out of the property with consent to let from their current lender.

DWP Tenants

DSS Tenants are now acceptable

Ex-Local Authority Properties

Houses are considered up to scheme and LTV limits, and flats/maisonettes up to max 80%, subject to conditions. Flats/Maisonettes, 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 or part and part, 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

Yes (unless Ex-Pat).

All applicants must provide 3 years address history. The latest year must show continuous residency in the UK.

However, Only 1-years’ UK residency required before application.

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.

Extended list of 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/EEA/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 and Foreign Nationals

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


Yes – British Citizens living or working in FATF member countries or confederations

Max loan £1M and max LTV 75% in EEA, 65% if non EEA

Must currently own a UK property and have at least 3 active credit records

First time landlords acceptable but must own a UK property

Mortgage payments to be made by direct debit from a UK bank account

New Builds

All new builds considered. Mortgage offers valid for 6 months from data of issue and if required we may extend for a further 6 months on the same product.
Builder’s or Vendor’s deposit: -
Acceptable on new build purchases only providing incentive does not exceed 5% of the purchase price

Credit Score

Credit check only

Rental Calculation

2 year fixed: Product rate + 2%, 5.5% minimum.

2 year fixed £ for £ re mortgage: Product rate, 5% minimum.

5 year fixed Product rate.

140% Higher Rate Taxpayer

125% UK Basic Rate

125% UK Ltd Co’s/SPV

HMO/MUB – 130%, including Ltd Company HMO, 140% for higher rate tax payers.

Historic CCJ’s & Defaults

Vida 1, No registered CCJs or Default in last 48 months. No Unsatisfied CCJs

Vida 2, No registered CCJs or Default in the last 36 Months. No Unsatisfied CCJs

Vida 3, 1 Registered CCJ or Default in last 24 months (includng unsecured defaults) (0 in last 18 months of £250 or more). Max £5000 unsatisfied CCJs

Vida 4, 2 Registered CCJ's or Defaults in last 24 months (including unsecured defaults) (0 in last 6 months of £250 or more) Max £5000 unsatisfied CCJs

Missed Secured/Mortgage Payments: -

Vida 1: 0 Missed Mortgage/Secured Loan Payment in last 36 months and Maximum Current Status 0 in the last 36 months.
Vida 2: 0 Missed Mortgage/Secured Loan Payment in last 12 months and Maximum Current Status 1 in the last 24 months.
Vida 3: 0 Missed Mortgage/Secured Loan Payment in last 12 months and Maximum Current Status 2 in the last 24 months.
Vida 4: 0 Missed Mortgage/Secured Loan Payment in last 6 months and Maximum Current Status 2 in the last 24 months.

Valuation Fees

Valuation fees paid direct to lender at the lender fee scales. Product fee: loans <= £250k are £1495. > £250k are 1.00%. Can be added to the loan above max LTV limit.

Maximum number of applicants

4 applicants


Will lend in England and Wales


Access to Vida is available via selected packagers only

Missed mortgage payments

Vida 1 - 0 missed payments in last 36 months Vida 2 - 1 in last 24 months (0 missed payments in last 6 months) Vida 3 and 4 - 2 in last 24 months (0 missed payments in last 6 months)

Property Type / Commercial

Flats LTV's available up to scheme limits.

No restriction on number of storeys in a block of flats

No requirement for a lift above 4th floor

Flats near to or above bars, pubs and petrol stations considered

Multi-Unit Blocks (MUB) now available up to 6 units

Landlords considered with no experience when purchasing HMO or MUB

No lift required if the flat is on one of the first 3 floors above ground, irrespective of the number of floors in the block.

- Will not lend on properties above a public house
- Flat roofs considered on flats.

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
Commercial element of mixed-use properties now allowed up to 40%
Premises Flats situated above restaurants/ takeaways/ launderettes: Max 60% LTV
Properties adjacent to public houses and petrol stations now considered
Properties with Possessory Titles now considered
Flat roofs on houses are based on valuers comments if greater than 25% of the roof area , and assessed on an individual basis on mortgageability & saleability.

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

Max LTV Up to scheme limits except where restrictions apply

Flat Roofs Accepted

Solar Panels Consent to roof space leases for the installation of photo-voltaic (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

Vida will accept SPV applications where a Bounce Back loan (BBL) or a Coronavirus Business Interruption Loan (CBIL) remains active - subject to underwriter discretion


Will lend in England, Wales and Scotland - currently lending in postcodes AB (excluding 42-45,56). DD, EH (excluding 43-46), G, IV (excluding 4, 13, 19-63), FK, KA (excluding 6, 18, 19, 26-28) KY, ML and PA (excluding 20-80).

Type of Credit Search conducted at AIP stage

Soft foot print

Portfolio Landlords

Portfolio Landlords Accepted

Background Portfolio Requirements

– Average 80% LTV for the overall portfolio
– No minimum rental stress requirements

Portfolio Landlord Criteria

– Up to 20 properties with Vida to an aggregate borrowing of £2m
– No maximum properties in total with Vida, other lenders & unencumbered units

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – All cases
– Cashflow Statement – Case by case
– Asset & Liability Statement – Case by case
* Lender will accept client versions so long as covers the lenders minimum requirements