The lender said this was part of its commitment to widen access to homeownership and investment opportunities for under-served borrowers.
Now, the lender will access mixed-status applicants across its BTL offering and consider applications where one applicant has an indefinite right to live and work in the UK, while the other applicant or applicants can hold a non-permanent but acceptable visa type and have lived in the UK for at least 12 months.
Vida will also now consider lending to BTL applicants who do not hold Indefinite Leave to Remain (ILR), as long as they have a visa on the lender’s approved list.
Further, the latest minimum continuous UK residency period for BTL applicants has been shortened from 24 to 12 months.
Ross Williams, head of mortgage product management at Vida, said: “These changes build on the improvements we introduced for residential foreign national borrowers last year, and we’re pleased to extend this level of support to BTL customers.
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“By allowing mixed‑status applicants to apply under standard policy, and by widening eligibility to include foreign nationals without Indefinite Leave to Remain when they hold one of our approved visa types, we’re giving brokers the confidence, flexibility, and certainty they need to place more complex cases with Vida.”
