Buy to Let

Business as usual for Vida ahead of PRA changes

Vida Homeloans is continuing its commitment to brokers serving the buy-to-let portfolio landlord market once the PRA changes go live from 30 September.

Vida’s proposition to be launched on the 28 September will include accepting existing portfolio schedules to be uploaded if they contain its minimum information requirements.

Louisa Sedgwick, director of sales – mortgages, said: “We are really excited to continue to support BTL portfolio landlords post the PRA changes, and we are making very few changes to our existing underwriting policies and processes to ensure that brokers do not face extra work as a result.”

Vida will also continue to require a minimum rental income versus a mortgage payment ratio of 125% and will continue to lend on a maximum of 15 properties with an increased maximum portfolio of £2m.

Lending on HMOs and MUBs will remain part of its portfolio landlord proposition.

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