"Sometimes people have a minor blip or historical adverse and we want to give these borrowers as good an opportunity as possible to find a place to call home"
Vida has announced several enhancements to its tiering and criteria.
From today, there will be three credit tiers: Vida 36, Vida 24, and Vida 6 across both residential and buy-to-let.
The lender has combined its previous Vida 48 and Vida 36 tiers, supporting borrowers with historical CCJs or defaults over three years ago.
Vida has also announced a series of criteria enhancements across its range.
Child benefit income will now be accepted up to 100% and tips up to 75% and back-to-back remortgages will be considered within 6 months.
Vida is also offering enhanced support for non-standard property types.
Cases will now be considered where evidence of self-employed income is up to 18 months old, subject to the relevant bank statements being provided. In addition, payslips are now accepted as evidence of income for contractors working under the Construction Industry Scheme (CIS).
Anth Mooney, CEO at Vida, said: "As the specialist lender, we recognise that sometimes people have a minor blip or historical adverse and we want to give these borrowers as good an opportunity as possible to find a place to call home, which is why we have simplified our credit tiers.
"We are always striving to improve our proposition and in a time of increasing interest rates and high inflation, we want to support people with affordability by increasing the types of income we can accept, alongside other criteria enhancements across residential and buy-to-let."
