Vida is revising its limited edition buy-to-let product offering.
Changes include extending the maximum loan from £750,000 to £1,000,000. The four products have a fixed fee of £1,995.
The lender has also reduced rates across its standard buy-to-let portfolio range. The 75% LTV rates start at 2.94% when fixed over two years, and 3.29% over the five-year fixed rate products. The 70% LTV product is 3.19% for a five-year fixed rate.
Meanwhile, following positive feedback from offering its Help to Buy products as an exclusive proposition, Vida has now made this product available to all intermediaries.
Vida is also launching two new products on its Vida 1 residential range up to 70% LTV, with rates of 2.99% on a two-year fixed deal and 3.29 fixed for five years. Loans start at £750,000 with the maximum loan, £1,500,000.
These latest offerings follow recent price cuts of up to 0.95 percentage points to the lender’s residential purchase mortgage products across its Vida 1, 2 and 3 core residential ranges.
Richard Tugwell (pictured), director of mortgage distribution at Vida, said: “These changes demonstrate our commitment to both the specialist residential & buy-to-let sector. We understand that many landlords have experienced issues with fluctuating income during the Covid-19 pandemic.
“These latest product changes are aimed at supporting them in achieving their portfolio growth and the latest step in our commitment to evolving our offering to open up new opportunities for intermediaries and reinforce our commitment to helping borrowers who are underserved and undervalued by high-street lenders.”
