Vida Homeloans reduces rates on BTL and residential products

Vida, the specialist lender, has announced it has reduced the rates on its’ fixed rate residential and buy to let ranges, across all Vida tiers. Rates have been reduced by up to 1.2 per cent.

The residential products are now available at 80 per cent loan to value (LTV), up from 75 per cent. The best rate available is the Vida 48, a five-year fixed rate at 70 per cent LTV at a rate of 6.49 per cent. 70 per cent and 80 per cent LTV options are available across tiers Vida 48 – Vida 6. A £995 product fee can be added to the loan above the maximum LTV, variable products are also available.

The Buy to Let range is available up to 80 percent LTV. The best rate is the Vida 48, a five-year fixed term product at 80 per cent loan to value, at 6.29 per cent. A 2 per cent product fee can be added to the loan above the maximum loan to value. The fixed rate products are available for HMO/MUBs and expats, variable products are also available.

In order to support customers more efficiently, Vida are able to provide a DIP referral within 24 hours, an initial underwriter review in two working days and a valuation receipt in seven working days. The products are now available on Vida’s broker portal and on sourcing systems.