Vida Introduces Winter BTL And Residential Products
Vida, the mortgage lending specialist, has announced that it has launched a suite of new winter limited edition products. These include a new no fee, buy to let product with up to 75 per cent LTV.
The rate for the no fee limited edition product
s is 2.94 per cent and is fixed for five years. SPVs are accepted across all buy to let ranges, and the deals are available for both purchases and remortgages, as well as for houses of multiple occupancy (HMOs) or multi unit blocks (MUBs). The maximum loan available for these products is £1,000,000.
This new limited edition complements the existing 2 year buy limited edition product launched last month which has a £1,495 fixed-fee, up to 75 per cent LTV and with a rate of 2.89 per cent.
In addition to the buy to let limited edition
s, Vida has also launched a number of residential limited edition products. Included are rate reductions at 70 per cent LTV compared to the core range on 2 year fixed and fee saver. As well as a 90 per cent LTV product, fixed for 2 years and at a rate of 4.44 per cent.
The products are available for new purchases – including first time buyers – and remortgages.
As a lending specialist Vida regularly assesses the market and reviews their products and pricing accordingly. Vida has identified an opportunity to create these new limited edition residential and buy to let products to ensure our proposition reflects the needs of our intermediary partners, and their clients, by making the products some of the most competitive in the intermediary market.
Richard Tugwell, director of mortgage distribution at Vida, commented: “We are proud to continue evolving our product range to meet the complex needs of brokers and their customers. The specialist BTL marketplace continues to see continued levels of interest from investors, developers and landlords who are looking to take advantage of rising tenant demand and a highly competitive lending environment. Residential market activity is also high and we are confident our limited edition winter deals will meet the needs of our intermediary partners and their customers. It also reinforces our commitment to offering greater opportunities for intermediaries and their customers locked out of high street lending.”