It also launches a new BTL limited edition, extending availability to HMOs and MUBs
Specialist lender Vida has announced rate reductions across its buy-to-let and residential product ranges.
The lender said all buy-to-let rates had been reduced, with fixed rates having rate cuts of as much as 0.40%. The lowest Vida 36 product – a five-year fix at 75% loan-to-value (LTV) – had an initial rate of 6.29%.
On its residential range, the standard five-year fix at 75% LTV on Vida 36 has had its rate slashed by 20 basis points to 7.19%.
Alongside the rate reductions on its BTL range, Vida has also launched a new limited edition product, extending availability to houses in multiple occupation (HMOs) and multi-unit blocks (MUBs). The two-year fix is available up to 75% LTV on Vida tier 36 at an initial rate of 5.79%.
The lender’s first limited edition buy-to-let product was introduced almost two months ago.
Great news! 📣
— Vida Homeloans (@VidaHomeloans) August 1, 2023
We’ve cut rates by up to 40bps 🎉
We’ve reduced products across our range, with rates starting from 6.29% for Buy to Let and 7.19% for Residential.
We’ve also got Buy to Let Limited Editions available! ✅
https://t.co/J2Dcd6LdYk pic.twitter.com/Y5iWrDkRBg
All Vida products are backed by the Vida Service Pledge, which allows brokers to request a refund of the £180 application admin fee if they feel they have not received excellent service.
“As a specialist lender, we are always looking at ways to support our intermediary partners and their customers at what is a challenging time for borrowers,” commented Helen Cawthra (pictured), head of intermediary relationships at Vida Homeloans. “Today’s rate reductions across our product ranges will provide more options for new and existing borrowers.”
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