BTL rates cut at Vida

Vida Homeloans has announced that it has cut its two-year tracker, two-year fixed and five-year fixed rates on buy-to-let products by up to 0.60% and reduced the revert rates across its entire buy-to-let product range.

Related topics:  Landlords
Warren Lewis
29th March 2017
houses
"We have quickly established ourselves as a lender with an appetite for specialist residential and buy-to-let business..."

Vida’s two-year tracker rates now start from 3.24%, its two-year fixed rates from 3.34% and its five-year fixed rates from 3.89%. These rates apply to all individual, limited company and HMO applications.

Vida’s BTL rental cover requirements are 125% cover with top up from 115% for basic rate tax payers, 140% cover with top up from 120% for higher rate tax payers, and HMOs from 130% cover.

Louisa Sedgwick, Director of Sales – mortgages, commented: “We have quickly established ourselves as a lender with an appetite for specialist residential and buy-to-let business, and these changes should ensure that we remain very competitive in this important segment of the buy-to-let market. We already had some great criteria in areas such as limited companies and SPVs, flats above commercial premises and HMOs up to 8 bedrooms. Now we have even more competitive pricing too.”

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