It lowers rates on residential, BTL, and retention products
Specialist lender Vida has revealed adjustments to the rates of its existing fixed rate buy-to-let and residential, as well as retention products.
The residential rates see a reduction of up to 105 basis points (bps). The Vida 36 standard two-year fixed product at 75% loan-to-value (LTV) now stands at 6.49%, while the five-year fixed option is set at 6.14%. Additionally, the Vida 36 fee saver five-year fixed product is now available at 6.34%, also at 75% LTV.
For buy-to-let products, both standard and limited edition rates have undergone reductions of up to 80bps. The Vida 36 standard five-year fixed product at 75% LTV is now offered at 5.04%. Furthermore, the standard limited-edition two-year fixed product is available at 6% on 65% LTV and at 6.20% on 75% LTV, maintaining the same price point for individual units, houses in multiple Occupation (HMOs), or multi-unit blocks (MUBs).
Cuts have also been made across their range of retention products by up to 75bps.
GOOD NEWS! 🎉
— Vida Homeloans (@VidaHomeloans) January 23, 2024
We’ve cut rates on a number of our Buy to Let products by up to 0.80% and Residential products by up to 1.05% to help more of your customers to get life moving! 🏡https://t.co/TOkloNE2D8 pic.twitter.com/X40YC5hhiV
All Vida products are backed by the Vida Service Pledge, which allows brokers to request a refund of the £180 application admin fee if they feel they have not received excellent service.
“As we start the year with growing confidence in the market and swap rates improving, we’re pleased to share the latest reductions to our fixed rate product range, helping both new and existing customers,” said Helen Cawthra (pictured), head of intermediary relationships at Vida Homeloans.
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