Vida Homeloans

Vida revamps limited edition BTL offering

Vida has announced changes to its standard and limited edition BTL ranges and residential product suite.

The specialist lender has cut rates across its standard BTL portfolio products to 2.94% for its two-year fixed rate and 3.29% for its five-year fixed rate, both available at 75% LTV.

Meanwhile, its five-year fixed rate product at 70% LTV is now available at 3.19%.

For its limited edition BTL offering, Vida has increased the maximum loan from £750,000 to £1m to provide greater choice and flexibility to homebuyers requiring larger loans.

All four products, which are part of the limited edition suite, have a £1,995 fixed fee.

Vida has also launched two new products on its Vida 1 residential range at up to 70% LTV, with rates of 2.99% on a two-year fixed deal and 3.29% fixed for five years. 

It offers loans between £750,000 and £1.5m.

In addition, the lender has made its residential Help to Buy products available to all intermediaries.

Richard Tugwell, director of mortgage distribution at Vida, said: “These changes demonstrate our commitment to both the specialist residential and BTL sector. 

“We understand that many landlords have experienced issues with fluctuating income during the Covid-19 pandemic. 

“These latest product changes are aimed at supporting them in achieving their portfolio growth and the latest step in our commitment to evolving our offering to open up new opportunities for intermediaries and reinforce our commitment to helping borrowers who are underserved and undervalued by high-street lenders.”

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