Specialist lender Vida Homeloans had increased the maximum loan to value (LTV) for cases involving debt consolidation, upped its maximum loan size and made changes to its fee-saver range.
The maximum LTV now stands at 85 per cent LTV where cases involve debt consolidation, and the maximum loan size has been increased to £2m up to 75 per cent LTV.
The lender has removed its £180 assessment fee from all residential products.
In its fee-saver range the lender will offer free valuation for properties up to £1m an also give £500 contribution to legal fees.
Vida has also changed criteria around repossessions from 10 years to six years.
Richard Tugwell (pictured), director of mortgage distribution at Vida, said the changes demonstrated its commitment to the specialist sector.
He said: “With the rising cost of living and increasing interest rates, specialist lending is going to become increasingly important.
“The product and criteria changes take account of the fast-moving pace of the mortgage sector, and we are confident that these will provide great solutions to borrowers who are cut out of traditional mainstream lending.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
