The specialist lender has also raised maximum loan amounts for first-time buyers to £1.5m and launched a 100% discounted purchase price for Right to Buy.
On its buy-to-let range, Vida has increased the maximum loan amount to £4m on portfolios of up to 15 properties.
The lender will also consider flats above commercial premises, including restaurants and takeaways.
Louisa Sedgwick, director of sales (pictured), said: “Here at Vida Homeloans, we are always listening to feedback from mortgage intermediaries, at the same time designing products for borrowers who are currently not well-served by high street lenders.
“These new criteria improvements are clear evidence of our desire to grow our specialist mortgage lending substantially in 2018.
“Don’t forget that we also support our intermediaries with a full set of online tools to make dealing with Vida easy, including a 10 minute Decision In Principle (DIP), residential and buy-to-let affordability calculators and a criteria search look-up facility.”
After a first year of trading, Vida has attracted £2bn in DIPs, £1bn in applications and over £400m in completions.
