Vida home loans - LTV help please 5 December 2022 at 9:43PM in Mortgages & endowments 8 replies 192 views

Heam2005

Hi,
does anyone know when Vida home loans will release the 85% LTV mortgages again?
we had a DIP with 85% LTV then they removed the rates - they took back at 75% and recently 80% but we really need 85% LTV for our house sale to go through! Our offer was accepted and luckily our move in date isn’t till end of febuary but feels like it’s getting closer and closer 

welly_59

No one knows, but I wouldn't expect to see much change in product offerings before the new year. But that's just a bunch based on it being Christmas!

If your are looking at Vida in guessing it's for credit history reasons. Have you looked at Kensington (85%) and aldermore (90%) ?

I'm not aware of any others in that segment doing more than 80% at the moment

Heam2005

@welly_59 - how are aldermore for lending in comparison to vida? 

welly_59

https://intermediaries.aldermore.co.uk/media/4784/residential-mortgage-guide.pdf 

Heam2005

I have looked at that but more looking for peoples experiences

ACG

You must have a broker to access Vida, have you spoken to them to see if there are any alternatives? 
I do a lot of adverse and only once was has there been no alternative - trust me, I always look for an alternative to vida. After the way they have acted since covid, I wont go near them with a barge pole. 

Heam2005

I do have a broker.
really don’t think there is any alternative for me. I have missed mortgage payments from last year as my ex stopped paying it even though I wasn’t living in the house. 

ACG

How many months in arrears did you go? 
Assuming nothing more than 2 missed payments, I think 85% is potentially doable and at relatively normal rates. That also assumed no other adverse. 

Heam2005

More than 2 months so visa really is my only option.
mortgage broker has said they are coming out with new rates on Thursday so keeping fingers crossed it’s for 85% LTV which we had a dip for