The lender will allow up to three missed unsecured payments in the last six months up to a combined total of £250. The new criteria is available across both its residential an BTL mortgage range.
In addition, 100% debt consolidation is now allowed on residential remortgages up to 70% loan-to-value (LTV). And it will allow fees to be added above 70% LTV.
Vida Homeloans director of sales – mortgages Louisa Sedgwick (pictured) said: “In many situations, people who are late on a recent monthly repayment get penalised when applying for a mortgage, causing frustration, wasting time and losing money from application fees.
“This latest refresh of our lending criteria is part our commitment to offer intermediaries flexibility in securing the best mortgage deal for clients who may not fit the criteria currently demanded by the high street.”