Vida has launched a new lending proposition designed to support foreign nationals living and working in the UK.
Vida will offer residential mortgage products to eligible foreign national applicants at up to 90% LTV. The lender has also expanded the list of acceptable visa types to further broaden its proposition.
By extending higher LTV options to foreign nationals, Vida says it is addressing a key barrier to entry for many individuals who contribute significantly to the UK economy but may face challenges securing traditional mortgage financing.
The new criteria is available through a dedicated range of two and five-year fixed rate products, specifically designed for foreign national applicants and supported by the lender’s team of underwriters, who take a case-by-case approach to assessing applications.
Ross Williams, head of products at Vida, commented: "At Vida, we believe that everyone deserves the opportunity to own a home, regardless of their background or country of origin.
"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."
