Page 7 - The Pulse Issue 9

Get specialist cases

off your desk
03300 246 246

For intermediaries only

Get specialist cases off your desk with Vida Homeloans

Let Vida Homeloans help you clear your desk and place those specialist cases. We’ve put
together a list of our top specialist mortgage products which brokers have told us helped them
The Rise of the Specialist Distributor place a complex case.

Compliance Update Residential

• IMPAIRED & IMPROVING CREDIT - Small or life events allowable; up to 4 CCJs and 3 missed
When was the market last this good? business or a smaller boutique firm.
mortgage payments allowable up to 75% LTV
Yes, over the last few years we have seen a host of regulatory With far fewer Lenders able or willing to specialise in the
changes which some would argue makes our lives that much adverse market, these specialists are placing far more focus on • BUYING TOGETHER MORTGAGES – Up to 4 applicants with all incomes considered
harder; stricter affordability and buy to let lending criteria to commercial, buy to let, second charge and equity release, as • FIRST TIME BUYERS - Up to 90% LTV; full gifted deposits accepted
name but two of the recent changes. a means of offering you, the Broker, a greater opportunity to
increase your business. By forging relationships with specialist • SELF EMPLOYED - SA302 or 1 year’s verified accounts, last year’s net profits considered
Whilst those Brokers cocooned in their world of residential firms you will be amazed at how much extra revenue can be
mortgages may see the current climate as difficult and generated. • FLATS ABOVE COMMERCIAL PREMISES - Up to 75% LTV
challenging, others have a very different view.
The likes of the buy to let market has become far more complicated • RIGHT TO BUY - Up to 100% of DPP subject to 75% of OMV
Just as there are two sides to every story, a ying and a yang, with the various affordability and tax changes moving this
equally every time we are set another challenge, another business far closer to the specialist world of commercial finance.
opportunity opens. So much so that we are seeing some Lenders and many Brokers Buy to Let
limiting their service to a maximum of three properties to avoid
For those content with their current lot, this article may not be the complications of portfolio lending. • PORTFOLIO LANDLORDS - Up to 15 Properties/£4m with Vida Homeloans
for you. Those of you, however, looking to expand your business
outside the realms of the residential mortgage market, please Specialist Distributors who have an excellent understanding • RENTAL CALCULATION - From 125% rental cover with top up from 115%
read on. of the complex buy to let and commercial fields will become
increasingly important to you if you want to retain your portfolio • EXPATS INVESTING IN UK - For existing UK property owners living or working within the
The market has unquestionably moved on. Not only are Brokers Landlords. They can provide valuable guidance and help you
required to be more professional and knowledgeable than ever to access lenders who still have a strong appetite for portfolio EEA. No minimum income required
before but the traditional Packager that many Brokers used in Landlords and non-standard lending. As I’ve said numerous
those pre-recession days has also had to change to keep up with times before, we set up the Chester office to support you with • TRADING COMPANY OR SPV - Available on any trading limited company with just 1
the demand of both client and Broker. this business and most importantly to help you maximise every
income opportunity. year’s accounts
Ten years ago, the Packager was largely nothing more than a • MULTI UNIT BLOCKS & HMOs - MUBs up to 5 units, HMOs up to 8 bedrooms
conduit between Broker and Lender, taking some of the work During the first quarter of this year alone, we’ve seen a huge
load from the Lender and in some instances providing valued rise in enquiries which we expect to continue to go from strength • FIRST TIME BUYER / FIRST TIME LANDLORD - Applicants who do not currently own any
advice and assistance to Brokers looking to place adverse cases. to strength as more Brokers begin to appreciate the value a
Specialist Distributor can add to their business. If you would like property are acceptable
Oh how times have changed! Many Packagers now call themselves an extra helping hand supporting your Landlords and customers
Specialist Distributors as a means of differentiating themselves who don’t fit the high street mould, then call the Chester Team
from those early days. Equally many are now regulated by the on 01702 538 800, we’re here to help!
FCA and without question have far more expertise and knowledge
to support the Broker. With far less Lenders dealing solely with Our experienced Telephone BDM team are on hand to answer any queries you may have.
these Specialist Distributors and a far smaller Broker market, David Ewing Call 03300 246 246 with your case or drop us an email, info@vidahomeloans.co.uk
you can be assured that increased competition has improved
the service and experience you will receive from these types of Managing Director
firms, regardless of whether dealing with a large warehouse style
VIDAHOMELOANS.CO.UK 03300 246 246
5