The lender is allowing conveyancers on its panel to use its No Search Indemnity insurance, which extends to its buy-to-let products for portfolio and houses in multiple occupation (HMO) landlords.
The move is designed for a faster remortgage process and should also mean lower costs for borrowers, Vida said.
At the same time, Vida has extended its new build mortgage offer period from four to six months and removed the need for a re-inspection to be carried out prior to completion.
If the build overruns, offers can be extended by up to a further six months.
Vida also has a dedicated underwriting team in Yorkshire prioritising new build applications, the lender said.
Louisa Sedgwick, director of sales – mortgages at Vida Homeloans (pictured), said: “Vida Homeloans is always keen to offer the best value to customers, and this is shown through improvements made to our new build proposition and introduction of a speedier remortgage process.
“Our aim at Vida is to ensure that we provide the best products available to the specialist customer, while matching the value added services that they can get on the high street.”
