Grow your Expat BTL market with Vida. Our Expat offering includes maximum LTV of 75% for non-EEA residents. In addition to lending on properties owned by Expat individuals we will also lend to SPVs registered in England, Wales and Scotland where one or more director or shareholder is resident overseas.

Typical buy to let expat customer example

After working for the RAF, Alex successfully applied for a 3-year contract to work in Saudi Arabia. He and his family moved to a rented property in Riyadh, but also wanted to own a British property to invest in the UK property market. Alex decided to purchase a property on a buy to let basis with his brother Chris (a UK resident) and together they set up a Special Purpose Vehicle (SPV) of which both were directors. They had a 25% deposit available. Initially Alex and Chris struggled to get a buy to let mortgage as lenders generally insist that all SPV directors have to live in the UK and only a limited number lend up to 75% LTV. However Alex and Chris‘s broker recommended Vida because it will allow a director or shareholder of a UK registered SPV, to be residing overseas. Vida will also lend up to 75% LTV.

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Residential product highlights

  • Rates start from 2.94% for 2 Year Fixed and 3.54% for 5 year fixed.
  • Vida will now lend up to 90% LTV for home movers with loans up to £400,000.
  • Debt consolidation has increased from 70% to 75% LTV across all tiers.
  • The minimum property value for Ex Local Authority Flats outside of Greater London has reduced from £125,000 to £80,000.
  • Vida’s Helping Hand proposition will now also allow children to assist parents to purchase a property or remortgage.

Buy to let product highlights

  • Rates start from 3.14% for 2 Year Fixed and 3.59% for 5 year fixed.
  • A new 85% LTV option has been added for loans up to £250,000 subject to the property being outside the M25.
  • EXPATS:
    • Where a BTL applicant is resident in a non-EEA country the maximum LTV has been increased from 65% to 75% LTV.
    • Vida will now lend to SPVs where a Director or shareholder is resident overseas.
  • The number of properties per BTL borrower has increased from 15 to 20, and the total number of properties a borrower holds has also increased from 50 to 100.
  • The minimum property value for Ex Local Authority Flats outside of Greater London has reduced from £125k to £80k.