Specialist lender Vida has introduced a new range of mortgage products replacing its previous range.
The new products will come with a range of enhancements to Vida’s criteria, including 85% loan-to-value (LTV) products and a reduced minimum loan size of £50k.
Fee saver products will be available across Vida’s entire range. The extended criteria also includes 6x loan to income ratio, no restriction on the number of storeys in a block of flats, and no requirement for a lift above the 4th floor.
Flats near to or above bars, pubs and petrol stations will also be considered, and multi-unit blocks (MUB) up to six units will be available.
Furthermore, landlords will be considered with no experience when purchasing HMO or MUB.
Vida’s new Product and Criteria guides went live on its website earlier today (Tuesday 28th February).
