Vida Homeloans

Vida Homeloans is a UK mortgage lender that lends to residential and buy-to-let borrowers, on both first charge and second charge mortgages¹. It also offers buy-to-let mortgages to expat landlords and to limited company SPVs, and eligible student lets². Applications are assessed by underwriters, who may ask for documentary evidence of identity and address where electronic checks are not enough³.

New mortgages are arranged through a mortgage broker rather than direct. If you already have a mortgage with Vida Homeloans, you can either ask a mortgage advisor or use the online Product Switch portal yourself, which is execution only⁴. The lender's charges are set out in a Tariff of Mortgage Charges, which is provided with the terms and available on its website, with a copy sent at least once a year when changes are made⁵.

Vida Homeloans mortgages: residential and buy-to-let, first and second charge

The tariff applies to residential and buy-to-let first and second charge mortgages lent by Vida Homeloans¹. In practice that means the lender covers owner-occupier borrowing and landlord borrowing, and it can sit behind another lender as a second charge rather than replacing the first mortgage.

For buy-to-let, the terms set conditions on how the property is used. It must be let for primarily residential purposes as a private dwelling, and it must not be used for a trade or business without written agreement⁵. The borrower must not occupy the property themselves, and there are restrictions on who can be a tenant: family members, directors, members or shareholders of a corporate borrower and their families, partners of a partnership borrower and their families, and people who could claim diplomatic immunity are all excluded⁵. The Scottish buy-to-let terms add tenants in receipt of housing benefit and local authority tenants to that list⁵.

Any tenancy deposit must be held by a body approved by the Government under the Housing Act 2004⁵. If you are comparing this with other lenders, the mortgages guide sets out how the different types work, and the lenders directory lists who else operates in the market.

Who can apply: ID, residency and expat buy-to-let requirements

Vida Homeloans usually tries to verify an applicant's identity and address electronically, and asks for documentary evidence where that is not possible or the underwriter needs more information³. The same document cannot be used to evidence both identity and residency³.

Accepted photo ID includes:

• a valid UK passport
• a full or provisional UK photocard driving licence
• a valid non-UK passport or national ID card
• an HM Forces or police warrant card
• a current firearms licence or shotgun certificate³

For residential applications, a list of visas is also accepted, including the Skilled Worker Visa, the British National (Overseas) Visa, the Health and Care Worker Visa, family visas for spouses or partners, parents, UK ancestry and skilled worker dependants, and the Innovator Founder, Investor, Global Talent, Minister of Religion and Sportsperson visas³.

Expat buy-to-let applicants face extra requirements. All expats must provide a valid UK passport as well as proof of their current foreign address³. Where the overseas address is a PO Box, an employed applicant needs an employer's letter on letter-headed paper confirming the address, plus the last three months of payslips and bank statements showing salary credits; a self-employed applicant needs proof of residency from their accountant in writing³. Documents can be certified by someone at the broker firm with the appropriate authority, an international law firm, a UK embassy official, a public body or notary, or one of the acceptable persons listed on the government website³.

Applying through a broker: checks, credit searches and valuations

When Vida Homeloans considers an application it searches your records at credit reference agencies and fraud prevention agencies⁵. The lender arranges a valuation of the property and checks the application against its lending criteria before issuing a mortgage offer⁸.

Vida Homeloans charges its own valuation fees on a sliding scale, and the tariff sets out the bands. There is also a non-refundable assessment fee for assessing and processing the application, and a re-valuation charge if another valuation is needed after the full one, for example if it goes out of date or further works are required¹. The current amounts are in the Tariff of Mortgage Charges on the lender's website¹.

Online mortgage brokers still use human brokers at some point in the process to make sure the application is correct and legally binding, and a human broker reviews the application towards the end of the process⁹. The credit scores guide explains what a lender sees when it searches your file.

How the mortgage charges work

Vida Homeloans publishes a Tariff of Mortgage Charges, and the terms say the current list of standard charges is provided with the terms and available on the website⁵. A copy is provided at least once a year when changes are made⁵. Arrears can trigger reasonable administration fees and legal costs, which are displayed in that tariff¹⁰.

The tariff covers a range of events rather than a single fee, and the amounts are set out there. It includes charges for changing the repayment method, changing the term of the loan, electronically transferring mortgage funds to you, tracing a customer, adding or removing a party to the mortgage, a partial release of the property, a second mortgage questionnaire, consent to let, an occupancy check visit, paying outstanding ground rent or service charges on your behalf, a mortgage exit or discharge fee, and a home visit to discuss your financial situation and arrears arrangements¹.

Some mortgages also carry a product fee, which varies by product¹. The terms say you may have to pay an early repayment charge and other charges if you repay some or all of the loan before the end of the term, with the details set out in your offer⁵. The charge is a percentage of the amount you repay and varies by product¹. You must also pay the cost of a valuation report obtained in connection with a compulsory purchase of the property, or obtained when a default is occurring or reasonably believed to be occurring⁵.

Payments, interest and overpayments

Monthly payments are due on the day of the month corresponding to the date the loan was made, or the 28th if the loan was made on the 29th, 30th or 31st, and the payment day can be changed to a day no later than the 28th⁵. Where the interest rate is variable, it is calculated by reference to the Vida Variable Rate, or VVR, which the lender may vary at any time for the reasons in its terms⁵. The lender gives notice of any increase in the interest rate either before or, for VVR variable or tracker rates, as soon as possible after the increase takes effect⁵.

Whether you can overpay depends on the mortgage product, so the terms and conditions or the lender are the place to check¹¹. Where a product includes a payment holiday or underpayment feature, it is only available if you have built up a sufficient overpayment reserve, and not if you have failed to pay any sum or had a payment arrangement in the previous 12 months, are in breach, are subject to the circumstances in Term 5.1, are claiming on mortgage repayment insurance, are claiming unemployment benefits, or have a subsequent charge registered by another lender⁵.

Switching to a new deal when your rate ends

You can look at switching if your current fixed or discounted variable rate has already expired or is due to expire within the next six months⁴. You can either ask a mortgage advisor or use the online Product Switch portal yourself, which is execution only, and only one application can be in place at a time⁴. The portal is not available to limited company customers, and the limited company must not have any insolvency proceedings⁴. To be eligible, your account must have no mortgage arrears, and you must not have personal insolvency proceedings, a possession order, a second charge mortgage, financial difficulty, an imminent change of circumstances, or a bankruptcy order or IVA since taking out the mortgage⁴.

The switch process has fixed dates. All product switches occur on the 1st of the month, and the lender needs offer acceptance 10 working days before the end of the month to have time to process the request⁴. If an offer is accepted in the final 10 days of the initial rate term, the new rate does not take effect until the 1st day of the next month plus one, so you pay the variable rate for at least a full month before the switch rate applies⁴. A letter confirming the switch date is sent within five days of offer acceptance, and a completion letter is sent on the switch date⁴. The lender responds to portal enquiries within two working days, and an offer is valid for 14 days⁴.

If you do nothing, a fixed rate ends and the loan moves to the lender's standard variable rate, which is usually much more expensive¹². The rate shown on the product switch page is the VVR plus a margin⁴. You do not need to supply any documents to switch, the lender does not re-underwrite the mortgage, and there are no legal or valuation costs⁴.

Moving home: porting is only allowed if your offer says so

Porting means moving your existing mortgage to a new property. With Vida Homeloans, porting is only available if it is set out in your offer. In the absence of an express provision in your offer, you are not entitled to port⁵. Where porting is allowed, you can transfer the loan balance to the mortgage on the other property without any change to the interest rate or other terms, and without an early repayment charge that might otherwise apply⁵. You can only port at the point you purchase a new property⁵. Additional lending is subject to credit assessment and current business terms⁵.

If porting is not available, the alternative is to repay the existing mortgage and take out a new one, which can trigger an early repayment charge⁵. The home buying guide covers the wider process of moving, and the mortgages guide explains how porting compares with remortgaging.

Struggling with payments: the support Vida Homeloans offers

Contacting the lender early matters. If a change could affect your ability to maintain mortgage payments, the guidance is to get in touch as soon as possible, because earlier contact means more support and more options may be available¹¹. Lenders are expected to help if you are struggling to pay your mortgage, which could include reducing your monthly payments or taking a break from your payments for a few months¹³.

Vida Homeloans says it may be able to reach a new payment plan, such as extending the term of the loan and so reducing your monthly payments, changing the way payments are made, or changing the payment due date¹⁰. It may also be able to move you temporarily to an interest-only mortgage, which reduces your payments but means you are not paying back any of the original amount borrowed¹⁴. It can reduce or stop your payments for a little while to get you to a point where you can start full payments again, but this shows as arrears on your credit records, the missed payments need to be repaid once your situation improves, and interest continues to be charged even when payments are reduced or suspended¹⁴.

For job loss, the support offered is a temporary payment arrangement or guidance on next steps¹⁵. For financial abuse, the lender can offer temporary payment arrangements or tailored solutions to help ease financial pressure, and can guide customers to charities and organisations specialising in helping those affected¹⁵.

Outside the lender, there is free help. Homeowners might be able to get help with mortgage payments in the form of a Support for Mortgage Interest Loan¹⁶. In Scotland, the Home Owners Support Fund may help where an independent financial adviser believes you cannot pay the money you owe¹⁷. In Wales, the Help to Stay scheme may be able to provide finance if you are having or facing difficulty making mortgage payments¹⁸. Creditors may also offer flexibility with repayment dates, a payment break or payment holiday, an affordable repayment plan based on your budget sheet, or a cheaper alternative if you are struggling with the ongoing costs of an essential service¹⁹. The debt guide sets out the full range of options.

Complaints and the Financial Ombudsman

Complaints are dealt with under Term 20 of the general terms⁷. If the matter is resolved by the end of the third business day after the lender receives the complaint, it sends a Summary Resolution Communication⁷. If a complaint is complex and takes over eight weeks, the lender writes to say you may be eligible to contact the Financial Ombudsman Service, and borrowers unhappy with a final response may be eligible to ask the ombudsman for an independent review⁵. You can contact the ombudsman through its website or by post at The Financial Ombudsman Service, Exchange Tower, London E14 9SR⁵.

For existing customers, complaints go to the Customer Services Team on 0344 892 0155, by post to Vida Homeloans, Second Floor, 1 Belle Vue Square, Broughton Road, Skipton, North Yorkshire, BD23 1FJ, or online, though the online route is not available for limited company customers⁷. That line is open Monday to Friday 8am to 8pm and Saturday 9am to 1pm⁷. From overseas, the numbers given are 0044344 8920155 or 00441756 776385⁷. Brokers use the V-Hub on 03300 246 246, by email at v-hub@vidahomeloans.co.uk, or by post to Vida Homeloans, 1 Battle Bridge Lane, London, SE1 2HP; that line is open Monday to Thursday 9am to 5pm and Friday 10am to 5pm⁷. For general questions, the number given in the terms is 03300 246 246 and the email is info@vidahomeloans.co.uk⁵.

The ombudsman can look at complaints about mortgage arrears charges, and it receives complaints about guarantor loans from borrowers and guarantors²⁰. Consumers who feel they have been given unaffordable credit, or that the lender acted irresponsibly in providing the product, may be able to complain to the Financial Ombudsman Service²⁰. Citizens Advice explains how to check whether a financial service has followed the rules¹³.

How Vida Homeloans is regulated and where your money sits

Vida Homeloans is a UK based and regulated bank²¹. The firm reference number is 738741, and the FCA Register lists Vida Savings, Vida Homeloans and Vida Bank as current trading names, with Belmont Green Finance Limited as a previous name⁶. The firm's permissions include entering into a regulated mortgage contract as lender and accepting deposits⁶. It appears on the Bank of England's list of banks incorporated in the UK authorised to accept deposits, dated 1 September 2026²². The company is registered in England and Wales with company number 09837692, incorporated on 22 October 2015, and its status is active²³.

Vida Homeloans is a controller of your personal data under the General Data Protection Regulation, and searches credit reference agencies and fraud prevention agencies when considering applications⁵. The Scottish residential and buy-to-let terms are governed by the laws of Scotland⁵.

On protection, the position differs between the mortgage and savings sides of the same firm. Deposits with Vida Savings are covered by the Financial Services Compensation Scheme up to £120,000, and the firm states that it does not share its protection with anyone else²¹. Savings over £120,000 are unlikely to be covered²¹. A mortgage is not a deposit, so FSCS deposit protection does not apply to your mortgage balance; what protects a mortgage borrower is the right to take a complaint to the Financial Ombudsman Service. The consumer protection guide explains how these protections work in practice, and the Vida Bank page covers the savings side.