Vida expands foreign national criteria across full buy-to-let range

Vida Homeloans has strengthened support for overseas borrowers by extending its foreign national policy across its entire buy-to-let range.

The enhanced policy broadens eligibility for buy-to-let applicants, particularly those with mixed residency statuses or without indefinite leave to remain, providing brokers with greater clarity and flexibility when placing complex cases.

Key foreign national criteria enhancements across its buy-to-let range include the acceptance of mixed status applicants. Where one applicant has an indefinite right to live and work in the UK and the other applicant(s) holds a non permanent but acceptable visa type — and have lived in the UK for a minimum of 12 months — applications can now proceed under standard policy up to scheme limits.

The change also expands acceptance of foreign nationals without indefinite leave to remain, provided they have a visa included on Vida’s approved list.

In addition, the latest minimum continuous UK residency period for buy-to-let applicants has been reduced from 24 months to 12 months, opening the door to more recently settled borrowers.

Ross Williams, head of mortgage product management at Vida, said: “These changes build on the improvements we introduced for residential foreign national borrowers last year, and we’re pleased to extend this level of support to buy-to-let customers.

"By allowing mixed status applicants to apply under standard policy, and by widening eligibility to include foreign nationals without indefinite leave to remain when they hold one of our approved visa types, we’re giving brokers the confidence, flexibility, and certainty they need to place more complex cases with Vida.”