Vida Homeloans has brought out a new mortgage for key workers as well has having made a series of changes to its wider criteria.

The key worker mortgage allows for the borrowing of up to 5.5 times total income at up to 90% LTV, with only one applicant needing to be a key worker. This comes as a discount product. Initial rates start at 2.94%.

The lender has also relaunched its 90% LTV mortgages for all types of residential houses and flats. This includes a zero fee range at up to 90% LTV, starting at 4.94% for a five-year fix.

Additional changes to the residential range include the Help to Buy mortgage range becoming available across all lending tiers.

Vida has also made buy-to-let mortgages available at up to 85% LTV.

And the new ‘Flex Range’, which is available for residential borrowers and landlords, offers a five-year fix with early repayment charges applicable for the first three years only.

Earlier this month, Vida increased procuration fees by 0.60% for clubs and networks and by 1% for packagers.

Vida director of mortgage distribution Richard Tugwell comments: “As a lending specialist, Vida is now a forward looking and nimble business, and our aim is to ensure we consistently deliver a first-class intermediary experience and provide a great range of product options for broker’s clients.

“We continually look to evolve the products that we offer them and these most recent criteria changes are the most radical in our seven year history. They take account of the fast moving pace of the mortgage sector and we are confident that these will provide great solutions to borrowers who are cut out of traditional mainstream lending.”