Stories of First Time Landlords

Sandy's Story - First Time Landlord with adverse

Sandy wants to invest in her first Buy to Let property.

She has a couple of missed payments in the past 2 years, including a phone bill and credit card payment. Sandy was hoping she would find a lender that would consider these small credit blips, and not let them stop her from purchasing her first investment property.

The property she’s really interested in is a flat in a high-rise building on the 5th floor, but there’s no lift. It’s also quite close to a petrol station. Sandy isn’t a cash buyer, and so needs to mortgage the property. She needs a lender who will consider this more specialist property along with her missed payments.

But, Vida can help!

• We’ll accept Sandy as a First Time Landlord
• We’ll consider Sandy’s missed payments, offering her products from Vida tier 24
• We consider high-rise properties without the need of a lift, and properties above/adjacent to commercial premises, including petrol stations and pubs/bars.

Gabriel's Story - HMO as First Time Landlord

Gabriel wants to purchase a 7-bedroom HMO as an investment.

He has never purchased a Buy to Let property before. Gabriel was hoping he would find a lender that would consider him as a First Time Landlord, allowing him to purchase his first investment HMO as a Student Let.

Gabriel has managed to save a small deposit, but still needs to borrow up to 85% LTV to purchase the HMO. He was worried about being able to find a mortgage lender who would consider him in his situation.

But, Vida can help!

• We’ll accept Gabriel as a First Time Landlord, despite him purchasing a HMO
• We’ll consider an HMO as a Student Let. And we consider HMOs with up to 8 bedrooms.
• We’ll lend up to 85% LTV on our Buy to Let products, including HMOs and MUBs

*All applicants subject to full underwrite.

Read more about First Time Landlords:Take a look at our latest blog around FTLs here.