It reduces rates and introduces new buy-to-let limited edition products
Specialist lender Vida has announced a reprice across its product range, with rate cuts of up to 35 basis points (bps).
Residential products which have had their rates reduced include Vida 36 two-year fixed, now at 6.99%, and five-year fixed, now at 6.64% – both at 75% loan-to-value (LTV).
For buy-to-let, Vida has implemented reductions of up to 30bps, with the most competitive initial rate on the Vida 36 lineup on the five-year fixed at 5.39%, accompanied by a 4% fee, also at 75% LTV.
In addition to the rate adjustments in the core BTL range, limited edition two-year fixed products at 65% LTV are currently available at 6.35%.
Furthermore, Vida has introduced two-year fixed limited editions at 75% LTV, featuring a rate of 6.50%. These deals come with a 2% fee and maintain a consistent pricing structure for individual units, houses in multiple occupation (HMOs), or multiple unit blocks (MUBs).
“There’s no denying that 2023 has been a difficult year for our industry,” commented Helen Cawthra (pictured), head of intermediary relationships at Vida Homeloans. “At Vida, we’ve continued to show that we’re listening to our intermediary partners and working closely to support borrowers with affordability at a time of increased cost-of-living and challenging economic circumstances.
“We’ve made a whole host of product and criteria enhancements and are pleased to end the year with even more rate reductions and two new limited-edition products.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, Twitter, and LinkedIn.
