Vida Homeloans has unveiled a new service pledge, and made enhancements to its BTL products and criteria.
The Vida Service Pledge allows brokers to request a refund of the £180 application admin fee if they feel they have received anything but excellent service.
The specialist lender also revised its proposition — its minimum loan size has been reduced to £50,000, and it has introduced fee saver products across its entire range.
Clients can also now secure loans at up to 85% LTV.
In terms of criteria enhancements, Vida has increased the loan to income ration to 6x, and extended the list of acceptable visas.
In addition, it is now considering loans for:
On top of this, there are no restrictions on the number of storeys in a block of flats, and no requirements for a lift above the 4th floor for properties.
Lastly, the lender confirmed it now required only one year of UK residency for an application.
Helen Cawthra, head of intermediary relationships at Vida, commented: “As a lending specialist, we are constantly seeking to enhance our offering and to help more people find a place to call home.
“We continue to listen to feedback from our brokers and are delighted that the latest changes to our products and criteria will give them even more options to discuss with their clients.
“The Vida Service Pledge is just another example of how committed we are to giving brokers the service they deserve.”
