Proc fees - when your proc fee will be paid

Lenders send payments by BACS which can take anything up to 5 working days to clear at PMS. PMS then make payment to brokers once the funds have cleared in our account.  

Reasons to use Vida

Vida is 100% committed to intermediaries, working in partnership with you to deliver a first class service to your clients. Here are just a few reasons as to why you should use Vida Homeloans:

Residential

• Minimum loan size £50,000

• Fee free options on all tiers

• First time buyers accepted

• Impaired credit and low credit scores – minor unsecured arrears in the last 6 months  considered

• Specialist properties – flats above/adjacent commercial including pubs and petrol stations, New Build, Ex Local Authority

• Flats - no restriction on number of storeys or availability of lift, balcony access considered

• Debt Management Plans, CCJ’s and secured arrears considered

• Self employed and contractors (including day 1 contractors) welcomed

• Debt consolidation up to 85% LTV

• Complex incomes and second job income considered

• Enhanced residency criteria for Visa’s

Buy to Let

• Minimum loan size £50,000

• Fee Saver range available across all tiers

• Professional landlords – unlimited portfolio size (£4m with Vida)

• First Time Landlords, up to scheme limits

• HMOs and MUBs considered even where no landlord experience

• Specialist properties – flats above/adjacent commercial, New Build, Ex Local Authority

• No minimum income

• ICR (Income Calculation Ratio) of 125% for SPVs and 140% for higher rate tax payers

• Limited Companies and Day 1 SPVs accepted across whole BTL range

• Expats – existing property owners living or working in selected Worldwide countries.

Also, with no minimum income requirements

All Products

• Improving credit history accepted
• Debt Management Plans accepted
• Gifted deposits allowed
• Non-standard property types considered
• Fee Saver products available on both ranges
• Ex-Local authority properties

Property types

Residential

• EX LOCAL AUTHORITY FLATS: Up to 80% LTV, deck access can be accepted. No max limit on storeys.
• FLATS ABOVE COMMERCIAL PREMISES: up to 75% LTV. If above or next to restaurants, takeaways, launderettes,  public houses or petrol stations up to 60% LTV.
• STUDIO FLATS: Where internal floor area is greater than 30sq.m
• MINIMUM PROPERTY VALUATION: £70,000. Ex local authority flats/maisonettes from £80,000 outside London.
• NEW BUILD HOUSES AND FLATS: Up to 85% LTV.
• NO LIFT REQUIRED: In high rise blocks
• RIGHT TO BUY: and acquire purchase only applications from Local Authorities and from Housing Associations. Available up to lower of 100% of discounted purchase price or 75% of open market value. 

Buy to Let

• HMOs: Up to 8 bedrooms with a minimum valuation of £100,000.
• EX LOCAL AUTHORITY FLATS: Up to 80% LTV.
• FLATS ABOVE COMMERCIAL PREMISES: up to 75% LTV. If above or next to restaurants, takeaways, launderettes,  public houses or petrol stations up to 60% LTV.
• STUDIO FLATS: Where the internal floor area is greater than 30 sq.m.
• MINIMUM PROPERTY VALUATION: £50,000 up to 70% LTV. Ex local authority flats/maisonettes from £80k outside London.
• NEW BUILD HOUSES & FLATS: Up to 85% LTV.
• NO LIFT REQUIRED: In blocks where the flat to be purchased is on one of the first 4 floors.
• MULTI UNIT BLOCKS: Up to 6 units. Applicants with no previous landlord experience can be considered. Valuations from £125,000 for the freehold block (£175,000 in London)

Call Vida 03300 246 246.