Vida, the specialist mortgage lender, has launched a new lending proposition to support foreign nationals living and working in the UK.
Effective immediately, Vida will offer residential mortgage products to eligible foreign national applicants at up to 90% loan-to-value (LTV). The lender has also expanded on the list of acceptable visa types to further broaden the proposition.
There’s now a dedicated range of mortgage products offering fixed rates on a 2 and 5-year basis, specifically designed for Foreign National applicants and is supported by the lender’s underwriters, who says they take a case-by-case approach to assessing applications.
And Vida adds that it continues to work closely with its broker partners to ensure that customers receive the guidance and support they need throughout the mortgage journey.
By extending higher LTV options to foreign nationals, Vida says it’s addressing a key barrier to entry for many individuals who contribute significantly to the UK economy but may face challenges securing traditional mortgage financing.
A spokesperson adds: “Our new proposition for foreign nationals is a natural extension of our mission to help more people find a place to call home. We’re proud to support a diverse range of customers and provide real solutions that reflect the realities of modern life in the UK.”