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
Criteria wrap-up: Specialist Property
Here’s a wrap-up of our Specialist Property criteria and how we can help your specialist customers to get life moving.
Houses of Multiple Occupancy and Multi Unit Blocks
- Applicants with no previous experience can be considered for HMOs and MUBs.
- HMOs can have up to 6 bedrooms and a minimum valuation of £100,000.
- MUBs can have up to 6 self-contained units on a single freehold title – flats only.
Flats
- There’s no maximum limit on the number of storeys in a block of flats, subject to Valuers comments.
- Ex-local authority flats considered, with no minimum private ownership percentage, deck access allowed and no maximum limit on number of storeys.
Property above or adjacent to Commercial
- Properties above and/or adjacent to commercial premises can be considered up to 75% LTV.
- Up to 60% LTV for flats above/adjacent to restaurants, takeaways, dry cleaners, hairdressers, launderettes, tattoo, piercing, nail parlours, public houses and petrol stations.
New Build
- New Build properties accepted.
- Offer validity of 6 months.
- Builder deposit/incentives acceptable up to 5% of the purchase price.
Right to Buy
- Right to Buy and Acquire considered for purchase only applications from Local Authorities for Right to Buy and from Housing Associations for Right to Acquire.
- Available up to lower of 100% of discounted purchase price or 75% of the open market value.
Let’s get life moving for you and your customers.
Take a look at our lending criteria or download our criteria guide: