Vida Homeloans return to market?

mclewlow1

Is anyone else in our situation...we were mid mortgage application with vida homeloans and nearly had our offer but our valuation was booked for the same day the country went on lockdown! Instead of vida just holding our application until they reopened they just pulled all applications. Since March they have given no response as to when they return. We have everyone on hold, our developers, HTB loan and solicitors. We merely just want some guidance from vida to suggest when they may reopen! Our broker has no idea. Its a little concerning that other specialist lenders are opening and they aren't? Has anyone heard anything in terms of when they might reopen? Or are in a similar situation to us? Many Thanks in advance 🙂

bell2020

Hi, I have heard they are due to reopen within the next couple of weeks

mortgagetakingages

They may return but they will have a huge backlog

ACG

I am expecting to hear some news this month. 
But... There is no guarantee rates/criteria will be the same as it was previously. 

Hopkinson1

Me and my partner had a Mortgage going through as well but then it was pulled at the start of covid, I’ve heard they are returning end of this month or at the start of September 

Bex_27

They are back on the market now, my Mortgage Advisor is putting a DIP through them, just waiting for his new login details as they froze all of their accounts

bell2020

@Bex_27 do you know when they opened? My broker email Monday and said they are still not open 🤔

Thanks

bell2020

^ignore that. I've spoke to my broker and she has confirmed they are now open! 

Bex_27

bell2020 said:

^ignore that. I've spoke to my broker and she has confirmed they are now open! 

Brilliant news! Their apr is a lot less than Kensington, who we were going with. Just keeping everything crossed we get a DIP, they seem to fit us but not a broker so who knows!

bell2020

@Bex_27 fingers crossed for you.
Vida is currently the only lender available for us!! Haven't met the criteria of anyone else since covid. Our broker is sorting everything out to apply for DIP tomorrow 🤞 Haven't heard of the rates yet but I've looked at their products and they're much better than the other adverse lenders aren't they. 

Bex_27

bell2020 said:

@Bex_27 fingers crossed for you.
Vida is currently the only lender available for us!! Haven't met the criteria of anyone else since covid. Our broker is sorting everything out to apply for DIP tomorrow 🤞 Haven't heard of the rates yet but I've looked at their products and they're much better than the other adverse lenders aren't they. 

Have you had any luck? Our broker put one in Friday and it got referred, he thinks its because my other half is on another mortgage which he is coming off, we are just finalising handing over the property to his ex-partner.