Vida broadens BTL expat criteria through select distributors

Vida Homeloans has broadened its buy-to-let expat criteria for a limited number of distributors.

The specialist lender has made changes to cater for existing UK property owners working in FATF (Financial Action Task Force) member countries around the world.

The exclusive BTL range is available up to 65 per cent LTV outside the EEA and up to 75 per cent LTV inside the EEA.

First-time landlords, houses in multiple occupation and multi-blocks are all acceptable and the maximum loan size is £1m.

Spouses who are non-British citizens can also be party to the BTL mortgage and no minimum income is required.

The new extension to the expat range is currently available to mortgage intermediaries through 3mc, Brightstar, Complete FS, Connect for Intermediaries, Mortgages for Business and Buy to Let Club. Vida is giving intermediaries the choice of submitting business via packagers or directly via the club route.

Vida director of sales Louisa Sedgwick (pictured) says: “Here at Vida we are really pleased to be able to offer this extension to our BTL expat range via a selected number of key distributors. Vida is focused on meeting the needs of customers who are currently underserved by the high street lenders and the feedback we’ve had from intermediaries who specialise in expat business is that this move will be welcomed.”

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