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Business as Usual for BTL Portfolio Landlords at Vida Homeloans

27 September 2017

Vida Homeloans logo

In advance of the PRA changes on 30 September, Vida Homeloans will be adopting the following underwriting guidelines which will apply to DIPs submitted for BTL portfolio landlords from 28 September. 

The good news is that you will see very little difference to Vida’s underwriting approach used today. Vida will not expect you to spend time entering your customer’s portfolio onto a third-party system. Simply continue to send the schedule to them and they’ll take care of the rest, meaning you can spend more time on meeting your customer’s needs. Vida has always assessed the wider portfolio as part of its underwriting approach, so this approach is a continuation of its successful proposition which has made up a significant part of its lending to date. 

Vida’s proposition from 28 September can be summarised as follows:

  • Vida's portfolio landlord definition is someone who has 4 mortgaged BTL properties or more at application stage where they are now applying for their 5th property
  • To reduce the burden on brokers, Vida will accept existing portfolio schedules to be uploaded if they contain its minimum information requirements
  • Vida will not require brokers to enter details on a third-party platform for portfolio cases
  • In addition, landlords will also need to complete a short and simple multiple-choice Business Plan questionnaire
  • Vida will continue to lend on a maximum of 15 properties with an increased maximum portfolio of £2m with Vida 

For full details of the new BTL portfolio proposition, visit their website at vidahomeloans.co.uk


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