This change means Vida can now support landlords with more complex corporate structures, including those who manage larger portfolios.
Vida Homeloans has expanded its buy-to-let (BTL) criteria to accept special purpose vehicle (SPV) applications where the company is a subsidiary of a parent company.
The new policy allows a maximum of two company layers, with directors matching across both companies and holding at least 75% of shares in the parent company.
All directors and shareholders must be named on the mortgage application.
This change means Vida can now support landlords with more complex corporate structures, including those who manage larger portfolios.
Dave Angel, managing director, mortgage product management at Vida Homeloans, said: “The BTL market continues to evolve, and we know that for various operational and financial reasons, many landlords choose to structure their property business as a subsidiary of a parent company.
“We’ve listened to feedback from our intermediary partners and acknowledge our previous policy didn’t support customers with these more complex arrangements; Buy to Let is a key part of our proposition, so I’m pleased we’ve been able to make this positive change that reflects the reality of how many landlords operate.”