Lenders announce further rate reductions

Vida Homeloans and TSB Intermediaries lowered rates on a number of mortgage products

Lenders announce further rate reductions

Specialist lender Vida Homeloans has announced that it has reduced rates across its residential and buy-to-let ranges by up to 1.35%.

Residential variable rate products are now available at up to 80% loan-to-value (LTV), while the Vida 48, a two-year variable mortgage at 70% LTV, is offering a rate of 6.29%. Fixed rates have been reduced by as much as 0.70% with the lowest Vida 48 rate being 70% LTV with a five-year fixed at 6.39%.

On buy-to-let, variable rates have been cut by as much as 1.35%. The best rate available is the Vida 48, 80% two-year variable at 5.49%.

Product fees have also been halved from 2% to 1% on buy-to-let two-year fixed rate products.

“Last week, we launched our new centralised decisioning unit, V-Hub, which gives intermediaries direct access to dedicated underwriters who will help them with every type of query from pre-application through to complex case management and completions,” Helen Cawthra (pictured), head of intermediary relationships at Vida Homeloans, said.

“This week, we are further strengthening our proposition with reductions across our entire product range, giving brokers attractive options to discuss with their clients.”

The products are now available via Vida’s broker portal and on sourcing systems.

Meanwhile, TSB Intermediaries has also announced rate reductions to its residential and product transfer ranges.

For the lender’s two- and five-year fixed house purchase at 0 to 85% LTV with a £995 fee, rates were reduced by up to 0.30%. For the two-year fixed remortgage at 0 to 75% LTV, as well as the five-year fixed remortgage at 0 to 85% LTV, both with £995 fee, rates were lowered by 0.10%.

Under product transfer, the two-year fixed residential at 0 to 75% LTV and the five-year fixed residential at 0 to 85% LTV, both with £995 fee, rates were cut by 0.10%.

Full details of TSB’s products and rate can be accessed on its intermediary product guide.