Vida Homeloans has updated its range across the direct to lender and packaged range. Brilliant Solutions offers fees free packaging across the range as well as direct to lender access with payment on completion. Vida’s rates are available here and details on Vida’s criteria is available here. For more information you can contact our team. LOGIN to Vida here
Product Change Notification
All Vida products to be withdrawn at close of business on Wednesday 7th December
In preparation for a new range of reduced-price fixed rate and variable rate products being launched on Thursday, we will withdraw all Residential and BTL products from 6.00pm, Wednesday 7th December.
Transition Arrangements
Decisions in Principle must be submitted, with product selected, by 6.00pm on Wednesday 7th December.
For Decisions in Principle, with product selected, and any cases currently in the pipeline, all mandatory docs must have been uploaded with fees paid, and case progressed to the ‘Application Received’ stage, by 6.00pm, Wednesday 15th December.
Where either the fees have not been paid, or the mandatory documents are not uploaded by 6pm on Wednesday 15th December, the case will be returned to DIP stage and a product from the new range will need to be selected.
New Product Guides
Key changes include:
RESIDENTIAL
- Cheapest rate 6.39%
- Reduced 2-year and 5-year fixed rate products
- Reduced 2-year variable rate products, cheapest rate 6.29%
- 70% and 80% LTV options across tiers Vida 48 – Vida 6
- £995 product fee that can be added to the loan above max LTV
- Minimum Loan £75k, Maximum Loan £2m
BUY TO LET
- Cheapest rate 5.99%
- Reduced 2-year and 5-year fixed rate products
- Reduced 2-year variable rate products, cheapest rate 5.49%
- Reduced product fee on 2-year fixed rate products, now 1%
- 80% LTV with HMO/MUB options, available on all tiers
- Expats available up to 75% LTV
- Product fees can be added to the loan above max LTV