The simplified product structure includes standard BTL up to 85% LTV, an HMO/MUB BTL range up to 85% LTV, and expat BTL up to 75% LTV.
This follows the specialist lender’s recent successful £350m securitisation deal in July.
Louisa Sedgwick, managing director for mortgages at Vida (pictured above), said: “Over the past few months, we have been planning and developing a new proposition that meets the wider needs of more borrowers in today’s market, and we are returning to new business with a renewed ambition to change mortgages for good.”
The relaunch also sees a simplified product structure for its standard residential range up to 85% LTV for two- and five-year fixed rates.
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In addition, Vida redesigned its website to improve functionality for brokers and has added a new AI-driven chatbot called MILO (My Intelligent Lending Operative) to help intermediaries find information about Vida’s products and criteria quickly and easily.
“The pandemic has been a challenging time for everyone,” added Louisa.
“For the growing number of borrowers who no longer meet the strict criteria of high street lenders, their financial futures may feel even more uncertain.
“Our new products and renewed focus on this group of people will enable more of Britain’s borrowers to find a safe place to call home.”
Martin Reynold, chief executive at SimplyBiz Mortgages, commented that it was “really positive” to see Vida relaunch its new product range with wide-ranging criteria, support and product pricing.
“The market and our members will welcome the opportunity to reengage with them."
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