Vida expands range of expat countries

The IPPR estimates that there are over 119,000 British expats residing in these four countries, allowing Vida to help more people invest in the UK from overseas.

This expansion adds to the 41 countries worldwide currently accepted by Vida, and customers in all of these locations can apply for a buy-to-let mortgage up to 75% LTV.

For expats living outside the EEA, the minimum property value required is £150,000. UK registered SPVs are considered where at least one director or shareholder is an expat, and HMO & MUBs are also considered. There is no minimum income required if the property is self-funding, and the maximum loan size is up to £1 million. Vida lends on properties across England, Wales and Scotland.

Additionally, Vidas offers fee-free and Flex products across its expat range.

These latest changes follow in the wake of a range of residential and buy to let criteria enhancements to extend Vida’s product range, to include a bespoke key worker product, a Flex range, an extended Help to Buy range, as well as 90% LTV mortgages now available on all houses and flats.

Richard Tugwell, director of mortgage distribution at Vida, said: “As a lending specialist we are constantly looking for new innovative ways to enhance our proposition. We are seeing an increasing demand from expat customers and we wanted to enhance our offering to reflect this demand. Getting an expat mortgage isn’t always straightforward, but we aim to ensure that we deliver a first class intermediary experience and provide a great range of product options for our brokers' clients. We are confident that these will provide great solutions for our borrowers cut out of traditional mainstream lending.”