Vida Homeloans has made a number of spring rate cuts.

The reductions apply to the lender’s Standard, Fee Saver, Help to Buy and Right to Buy products and are focused on Vida’s lending tiers which cater for residential customers who have had a complex credit profile in the last 24 months and who are not well served by high street lenders.

Vida is also reducing rates on its buy-to-let range, including Standard, Fee Saver, Expat and HMO/MUB products.

Highlights include:

• Residential two-year fixed rates reduced by up to 65bps
• Residential five-year fixed rates reduced by up to 45bps
• Buy-to-let two-year fixed rates reduced by up to 25bps
• Buy-to-let five-year fixed rates reduced by up to 60bps

Louisa Sedgwick (pictured), managing director, mortgages, Vida Homeloans, said: “Whether it’s an unconventional income pattern or improving credit profile, customers with more complex circumstances have traditionally been underserved by the high street. At Vida, we can help these borrowers make their property dreams a reality by supporting them with a flexible range of good value products.

“Specialist lending is continuing to grow and has become an important focus for the intermediary sector. With the high street lenders’ perception of a ‘perfect borrower’ not supporting every day customer needs, specialist lenders play a crucial role in helping turn generation rent into generation own by catering for those underserved by mainstream banks and building societies.”