In This Article
Who are Vida Homeloans?
Vida Homeloans is a specialist mortgage provider that launched in 2016.
They are a responsible lender that looks beyond typical borrowing criteria to make lending decisions based on what the customer can genuinely afford.
Vida can only offer mortgage advice through authorised intermediaries such as a mortgage advisor and not directly to you. If you want to receive expert and impartial advice, please complete the below contact form by selecting “Get Advice Now”, and a mortgage broker will be in touch to talk through how they can help you.
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What does Vida Homeloans specialise in?
Vida is a lending specialist focusing on helping more customers in their homeownership journey. They may be able to help you unravel your complex situation and make the process clear and straightforward.
Vida’s focus is on helping those that mainstream lenders traditionally underserve.
Whether you’re a first-time buyer, a buy to let investor, or self-employed, Vida may have a mortgage solution.
Vida offers two main product ranges: residential mortgages and buy to let mortgages.
Vida Homeloans residential mortgages
Vida Homeloans specialises in mortgages for the following:
Self Employed, contractors, freelancers, consultants, directors, key workers, limited companies, partnerships and sole traders.
They can help customers with complex incomes or low credit scores and also be flexible on the property types.
Vida Homeloans buy to let mortgages.
Vida Homeloans can help first time landlords through to large portfolio landlords.
Their current range includes:
- Standard BTL Mortgages
- Limited companies
- House of Multiple Occupancy (HMOs)
- Multi-Units
- Expats – For British Citizens living or working overseas wanting to invest in the UK property market
Are Vida Home mortgage rates financially competitive?
If you’re looking for a mortgage and don’t fit the criteria of the high street banks, Vida Homeloans could be a good option.
They aim to be competitive in their niche and offer a broad range of products. However, as with any mortgage, it’s important to compare interest rates, fees and the quality of the lender’s service before making a decision.
Your credit score will also impact the interest rate of the mortgage you’re offered.
The lender charges some fees (e.g. application and origination fees).
Be sure to review the loan’s terms and conditions carefully before deciding.
Vida Homeloans only offer its products via mortgage intermediaries. Therefore, if you are considering a mortgage with them, speak to a mortgage advisor who can help you compare your options.
Can I switch my product with Vida Homeloans?
If you are a customer of Vida Homeloans, you may be able to switch your rate and remortgage with them directly. However, they may not offer the most competitive rate for you.
An independent mortgage advisor can advise you on all products available in the market and find the best option for you, which may not be staying with your current lender.
Vida Homeloans mortgage application to offer time?
Vida Homeloans’ average time from application to offer is around four weeks. However, this duration may be extended for more complicated deals, for example, due to bad credit, a non-standard property type, or complex self-employed income.
Declined a Vida Homeloans mortgage?
If you’ve been declined a mortgage from Vida Homeloans, a mortgage advisor could help you find a lender willing to give you a mortgage. Vida Homeloans offers a relaxed approach to those with low credit scores, but other lenders could still help you. Mortgage advisers may be able to help you find a lender, regardless of your financial situation.
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Conclusion
Vida Homeloans is a specialist mortgage provider that launched in 2016 with a focus on helping those that mainstream lenders traditionally underserve.
They aim to be competitive in their target market and offer a broad range of products. However, as with any mortgage, it’s important to compare interest rates, fees and the quality of the lender’s service before making a decision.
If you are a customer of Vida Homeloans, you can remortgage with them directly. However, they may not offer the most competitive rate for you.
Vida Homeloans’ average time from application to offer is around four weeks. However, this duration may be extended for more complicated deals, for example, due to bad credit, a non-standard property type, or complex mortgage in general.
If you’ve been declined a mortgage from Vida Homeloans, speaking with a mortgage advisor could help you find a lender willing to give you a mortgage.
If you would like to speak to a mortgage advisor, please complete the contact box below, and I NEED ADVICE will match you with a mortgage advisor who can review the whole market and recommend the right mortgage for you.
They are experienced, which can boost your chances of being approved.
