Vida has made two major improvements to its criteria that aim to make homeownership more accessible.
For cases where at least one borrower does not have permanent residence rights and the Loan-to-Value (LTV) is higher than 75%, Vida has reduced the minimum income eligible for joint applications.
Previously the main borrower had to earn £50,000, but the changes mean a combined total income of £70,000 is acceptable.
Applications where the main borrower earns at least £50,000 and the joint income is less than £70,000 remain acceptable.
Vida has also increased the threshold for excluding defaults and CCJs when allocating product tiers from £250 to £500 across all product tiers.
The existing threshold for ignoring unsecured missed payments of less than £250 remains unchanged.
Ross Williams, head of mortgage product management at Vida Homeloans, said: “The affordability improvement builds on the improvements we have achieved for overseas customers.”
“It means couples applying together can combine their incomes to meet eligibility requirements, offering greater flexibility and greater opportunities for overseas customers looking to take out a mortgage in Britain.”
“By raising the thresholds for CCJs and defaults that we ignore, we are making it easier for customers to take out a mortgage without being held back by legacy issues, while at the same time maintaining responsible lending standards.”