Vida Homeloans has launched a buy-to-let affordability calculator to help brokers with customers declined by high street lenders.
A Vida statement says the calculator has been created following broker feedback.
The calculator is available on the lender’s website.
It follows on from the launch of the firm’s maximum residential loan calculator in March, which has so far been used for over 14,000 calculations.
The Buy to Let Club managing director Ying Tan says: “Vida has built a very complex and sophisticated buy-to-let affordability calculator, one of the best available from a UK mortgage lender.”
Vida has also made an online tool that lets brokers check detailed lending criteria using a keyword search.
The tool allows brokers to define if they are looking for Vida’s residential or buy-to-let criteria and then to enter the first few letters of a search term to quickly bring up answers.
Vida Homeloans sales & marketing director Guy Batchelor says: “The new buy-to-let calculator and online lending criteria search tool are the latest examples of designing our technology around market needs.”