Vida releases new resi and BTL products

Vida Homeloans has released a series of new specialist residential and buy-to-let products.

The products include a 75 per cent LTV five-year fix at 3.64 per cent. This deal has free valuations on loans up to £500,000, a £49 assessment fee, and a £200 contribution towards legal fees.

In addition, a 75 per cent LTV five-year fix at 3.54 per cent has been launched. On loans up to £250,000 this deal has a £1,995 fee, and on loans over £250,001 a 1.5 per cent fee applies.

The lender has also launched a 75 per cent LTV five-year fix BTL offering at 3.59 per cent, and a 75 per cent LTV five-year fix HMO or HUB deal at 3.79 per cent. The former product includes a £3,495 fee.

Furthermore, a 70 per cent LTV remortgage only two-year fix at 3.24 per cent is now available. This offering has free valuations, free legals no product fee, and a £49 assessment fee.

Vida Homeloans director of sales Louisa Sedgwick says: “At Vida, we are continuously looking at ways to add choice and variety for brokers and their clients.

“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.”

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