Vida Homeloans has made changes to its specialist residential and buy-to-let ranges following broker feedback.
The specialist lender has introduced a new maximum LTV of 90 per cent for first-time buyers as well as 100 per cent discounted purchase price for Right-to-Buy and a new maximum loan amount of £1.5m.
Vida has also increased its maximum buy-to-let loan amount for portfolios of up to 15 properties to £4m. The lender will consider flats above commercial premises, including restaurants and takeaways.
Vida director of sales – mortgages Louisa Sedgwick (pictured) says: “Here at Vida Homeloans, we are always listening to feedback from mortgage intermediaries, at the same time as designing products for borrowers who are currently not well-served by high street lenders.
“These new criteria improvements are clear evidence of our desire to grow our specialist mortgage lending substantially in 2018.”