Vida and Pepper Money slash rates, launch new products

Vida provides new options for landlords while Pepper Money announces new deals for residential borrowers

Vida and Pepper Money slash rates, launch new products

Specialist lenders Vida and Pepper Money have announced rate reductions and new product offerings, aiming to provide enhanced options for mortgage borrowers with varied needs.

Vida has reduced rates across its buy-to-let product range by up to 0.35% and its product transfer range by 0.20%.

The lender also introduced new buy-to-let limited edition products, which include two-year fixed rates, a minimum loan size of £200,000, and a £4,995 fixed fee available at 75% loan-to-value (LTV).

The products cater to individual dwellings and houses in multiple occupation or multi-unit blocks, and are available to first-time and experienced portfolio landlords, as well as limited company special purpose vehicles (SPVs).

Vida’s product enhancements also include improved credit tiering, disregarding defaults and county court judgements (CCJs) under £250. This change applies to both their residential and buy-to-let ranges.

“These new rate reductions will help our partners to help more of their customers to secure their specialist mortgage at a lower rate,” said Helen Cawthra (pictured left), head of intermediary relationships at Vida. “The new limited editions will allow a variety of landlords to access products with a lower rate that suits their specialist requirements, with the flexibility of a 2-year fix and lower monthly payment for improved stress-testing.”  

Meanwhile, Pepper Money has announced a 0.10% rate reduction on its five-year fixed rates across its Pepper 48, 24, 18, 12, and 6 product categories.

The specialist lender has also reintroduced mid-fee products for residential two- and five-year terms, featuring a £795 fee and free valuation. Pepper also introduced three-year fixed rate products to its Debt Management Plan (DMP) range, resulting in 96 new customer options and reduced rates on 106 products.

“We always strive to make our products as competitive as possible, and we’re delighted to be able to introduce this lower pricing on mortgages across various product tiers,” said Paul Adams (pictured right), sales director at Pepper Money. “We’ve reintroduced our mid-fee products, which enhance the variety available to our customers – providing them with an even greater choice of options.”  

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