According to the lender, the new five-year fixed rate buy-to-let products include a 75% LTV Fee Saver at 3.64% with a free valuation up to £500,000, reduced assessment fee of £49 and a £200 contribution towards legal fees. A non-Fee Saver rate of 3.54% is available on loans up to £250,000 with a £1,995 fee. For loans over £250,000 a fee of 1.5% applies.
Vida is also launching a 75% LTV larger loan product, with a five-year fixed rate of 3.59% and a fixed fee of £3,495. A 75% LTV HMO and multi-unit block special product starts at 3.79% or 3.89% fee-free. A new 70% LTV residential remortgage two-year fixed rate has been launched at 3.24%, offering free valuation, free standard legals, reduced £49 assessment fee and no product fee.
Louisa Sedgwick, director of mortgage sales at Vida Homeloans, commented: “We’re pleased to announce four new product offerings to heat up the market this summer. At Vida, we’re continuously looking at ways to add choice and variety for brokers and their clients, and our Summer Headliners do exactly that.
At a time when the traditional idea of the ‘perfect’ borrower is becoming increasingly unrealistic, specialist lending has been vital in supporting the modern mortgage market and enabling buyers to achieve that longed for first home or investment property. Innovative, creative and out the box thinking is a crucial element needed to drive the market forward and provide solutions for those underserved by the high street banks, and we hope our summer headliners will help to achieve that goal.”
