Vida rolls out second charge mortgages

The lender will accept residential and buy-to-let (BTL) second charge business submitted through Loans Warehouse, CSC Loans, Positive Lending, Brightstar, Specialist Finance, Complete FS, Loan.co.uk and Promise Solutions.

Brokers must register on the Vida website before advising on its second charge mortgage business and then submit it via one of the approved master brokers.

Vida has also launched online affordability calculators for both residential and BTL second charge mortgages.

Intermediaries can work out how much could be lent to their customers on a residential or BTL property without having to register with the lender or log into its processing system.

Vida director of sales – second mortgages Simon Burnell (pictured) said: “After piloting this new proposition for the seconds market with key partners, it’s a great feeling to start widening our presence in the market.

“I would like to thank Loans Warehouse, CSC Loans and Positive Lending for their assistance and support so far and welcome Brightstar, Complete FS, Loan.co.uk, Specialist Finance and Promise Solutions to the Vida distribution panel.”