Vida mortgage

Messy16

Hello has anyone had any experience using Vida mortgages? Our broker has placed us with them. We have a DIP accepted, but just wondering how things will progress and likelihood of getting approval.
Also any advice of documents they likely to ask for along the way. We submitting full application Friday.

ACG

We use them occasionally. They are not too bad, could be better but could be worse. They have only declined one of our cases and to be honest it was half expected anyway, we just tried Vida on a 50/50 punt in order to try and save the customer about a grand over 2 years, so I cant really hold it against them.

Toodlepips

Hi Messy16, our broker placed us with them due to adverse credit and got us an aip with them.
We did the full application today so just a case of waiting for us.

Haven't read much about them on here other than they take their time with things!
Which aslong as it leads to a mortgage offer we are in no rush.. :laugh:

Good luck with your application!

Messy16

Good luck toodlepips with your application, please let me know how you get on.

What did you need to submit to them, if you don’t mind me asking.

Thank you for the information ACG, always hard to know what to expect. As first time buyers we’re rather nervous and uncertain in what to expect.

scoey8

Hi there,

We ended up getting our first mortgage with Vida last September. My partners credit history is bad (5 defaults) and all the other 'specialist' lenders offered rates of >4%. Ended up getting a rate of 3.69% with Vida which while not great was the best we could have hoped for.

Just checked and we submitted the following;

Vida direct debit form (provided by our broker)
3 months payslips
3 months bank statements
12 months rent statement
rent reference details (contact details for your landlord should they request a rent reference)
Utility bill (confirm proof of residence)
p60 tax form (this was submitted further down the line)

As for the process it was quite painless, wouldn't say they were fast but didn't encounter any issues and we are happy with them so far.

Good luck with the application.

ACG

If it makes you feel any better, my first mortgage in 2013 with a 15% deposit was 3.5% and I had no credit issues, so the rate isnt bad in the grand scheme of things, it just looks bad when you see 1.5% on the high street. When I first became a broker in 2011 I seen Halifax doing 2 year fixed rates at 5.99%.

scoey8 wrote: »

Hi there,

We ended up getting our first mortgage with Vida last September. My partners credit history is bad (5 defaults) and all the other 'specialist' lenders offered rates of >4%. Ended up getting a rate of 3.69% with Vida which while not great was the best we could have hoped for.

Just checked and we submitted the following;

Vida direct debit form (provided by our broker)
3 months payslips
3 months bank statements
12 months rent statement
rent reference details (contact details for your landlord should they request a rent reference)
Utility bill (confirm proof of residence)
p60 tax form (this was submitted further down the line)

As for the process it was quite painless, wouldn't say they were fast but didn't encounter any issues and we are happy with them so far.

Good luck with the application.

Messy16

Thank you, that is great. I will make sure I have everything available and ready

Toodlepips

Our broker phoned today to give us a heads up on waiting times, nothing we didn't already know!
The info we supplied was similar to the above-
3 months payslips
3 months bank statements
Proof of address
Marriage certificate
Passport/Driving License
Gift letter regarding deposit (Family are gifting us a portion of deposit)
My reports have me down as not being on electoral roll even though I am so I gave my recent polling card and email to support that.

Pretty sure they will come back asking for more tbh but thats all the broker wanted from us.
The brokers assistant phoned today to say everything had been sent through and explained the stages of their process = Admin-Underwriter-Senior Underwriter-Valutation

Hope the application went ok for you today!

Messy16

Thank you Toodlepips, I had even thought about our marriage certificate. I am sure they will want ours seem as I never changed name in any form.
Hope it all moves along swiftly for you. Keep me posted if you don’t mind, just cause we’re few days behind you so will at least know what to expect.

Toodlepips

Any news Messy16? Apparently we missed the deposit gift letters off our application (pretty sure we gave them our broker) so back to the bottom of the pile we go.

Speaking to our broker (correct me if i am wrong) it sounds like its 8 working days every time they ask for another document which is abit of an nightmare! I am so impatient!

Messy16

toddlepips, no we have heard nothing yet. I will have no nails left soon. That’s horrible having to wait another 8 days for them to review that. Gosh, I hope it goes well for us both, got my fingers, toes in fact everything crossed for both of our applications to go through well 🤞🏻🤞🏻