27 September 2017
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:
For full details of the new BTL portfolio proposition, visit their website at vidahomeloans.co.uk