Vida launches Right to Buy range

Vida has announced enhancements to its residential criteria, including Right to Buy and Acquire.

Purchase only applications are now accepted from Local Authorities for Right to Buy and from Housing Associations for Right to Acquire.

Applications are available up to the lower of 100% of the discounted purchase price or 75% of the open market value.

Right to Buy products are available on Vida 48 - Vida 6 and include two and five-year fixed options with £0 product fee.

Earlier this month, Vida launched a new service pledge, allowing brokers to request a refund of the £180 application admin fee if they have not received excellent service.

Alongside the service pledge, Vida announced a series of enhancements to its products and criteria including a maximum LTV of 85%, a reduction in the minimum loan size to £50,000, and fee-saver products available across its entire range. In addition, Vida increased its loan-to-income ratio to 6x and has extended the list of acceptable visas.

Helen Cawthra, head of intermediary relationships at Vida, said: “Our aim is to help more people find a place to call home, so we’re pleased to be able to announce the latest enhancements to our residential criteria, which offers additional Right to Buy options for our brokers and their clients."