New range offers two- and five-year fixes at up to 90% LTV
Specialist mortgage lender Vida has introduced a new residential mortgage offering aimed at foreign nationals living and working in the UK.
The product range, now available, includes loans of up to 90% loan-to-value (LTV) and accepts a wider variety of visa types.
The lender said the move is part of its goal to improve access to homeownership for borrowers often underserved by mainstream lenders. By increasing the maximum LTV for foreign national borrowers, Vida aims to remove a common hurdle for applicants who may have difficulty securing traditional mortgage deals.
“At Vida, we believe that everyone deserves the opportunity to own a home, regardless of their background or country of origin,” said Ross Williams (pictured), head of products at Vida.: “Our new proposition for foreign nationals is a natural extension of our mission to help more people find a place to call home.
“We’re proud to support a diverse range of customers and provide real solutions that reflect the realities of modern life in the UK.”
The new mortgage options include two- and five-year fixed rate products and are assessed on a case-by-case basis by Vida’s underwriting team. The lender said it would continue working closely with brokers to ensure tailored support is provided throughout the application process.
The new offering sits within Vida’s broader product suite available through its intermediary channel, which features a wide range of mortgage products with varying interest rates and LTVs for both new and existing clients. Among its flagship products are residential and buy-to-let mortgages.
Brokers can access further information and discuss cases directly with Vida’s underwriting specialists via its V-Hub page.
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