Specialist mortgage lender Vida Homeloans has announced the launch of four new residential and buy-to-let (BTL) products.
Vida’s new products include a 75 per cent LTV BTL fee saver product, featuring a 5-year fixed rate of 3.64 per cent, a free valuation up to £500,000, a reduced assessment fee of £49 and a £200 contribution towards legal fees. The lender is also offering a non-fee saver 5-year rate of 3.54 per cent on loans up to £250,000 with a £1,995 fee. For loans over £250,000, a fee of 1.5 per cent applies.
Furthermore, as part of its campaign, Vida is also launching a 75 per cent LTV BTL larger loan product, with a 5-year fixed rate of 3.59 per cent and a fixed fee of £3,495. Vida will also be offering a 75 per cent LTV house in multiple occupation (HMO) and multi-unit block (MUB) special product, with a 5-year fixed rate of 3.79 per cent (and a fee Saver option at 3.89 per cent).
To conclude the line-up, Vida has also introduced a 70 per cent LTV residential remortgage special, 2-year fixed rate of 3.24 per cent, offering free valuation, free standard legals, reduced £49 assessment fee and no product fee.
Commenting, Vida Homeloans director of sales, mortgages Louisa Sedgwick said: “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.”
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