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 Withdrawal Notification
Residential and BTL products are to be withdrawn at the close of business on Wednesday 5th June.
In advance of a reprice, most of our Residential and BTL products, as well as our product transfer rates, will be withdrawn from 6.00pm on Wednesday 5th June.
Transition arrangements
New Business
Decisions in Principle, with product selected, must have been completed by 6.00 pm on Wednesday 5th June.
For any cases currently in the pipeline, all mandatory documents must have been uploaded with fees paid, and case progressed to ‘Application Received’ stage, by 6.00pm on Wednesday 12th June.
Where either the fee has not been paid or the mandatory documents have not been uploaded by the close of Wednesday 12th June, the case will be returned to the DIP stage, and a new product will need to be selected.
Product Transfer
An offer must be produced on the Product Switch Portal by 6.00pm on Wednesday 5th June.
Log in to Vida Intermediary Portal
Log in to Vida Product Switch Portal
Criteria wrap-up: Lending into Retirement
Here’s a wrap-up of our Lending into Retirement criteria and how we can help your specialist customers to get life moving.
Applicant Profile
Maximum age of 80 years old at the end of term, if the applicant is currently under 50 years old, and is more than 10 years away from retirement.
Where the applicant is aged 50 or over at application (or under age 50, but has less than 10 years to their retirement) the term cannot extend past their stated retirement age or 70th Birthday if using income for affordability assessment.
Retirement
The applicant must be at least 10 years from retirement and contributing to a pension scheme. The applicant must be under the age of 50 at application.
Other applicants, who may not meet the above, can be considered, but their income will not be used for affordability.
Mortgage Term
A maximum term of 45 years will be considered.
Where lending into retirement, the applicants cannot have reached their 80th Birthday at term end.
For more information on submitting a Lending into Retirement case, take a look at our Lending into Retirement Guide here.
Price Drop across Buy to Let and Residential ranges!
Good news!
We’ve cut rates on our BTL and Residential ranges by up to 0.35% to help more of your customers get life moving.
Buy to Let rate reductions include:
- Majority of 2 and 5-year fixed products including Standard, HMO/MUBs and Expat options.
- All BTL Fee Saver products.
Residential rate reductions include:
- 5-year fixed products for those with adverse credit.
- 2-year fixed, Right to Buy products.