The specialist mortgage lender for intermediaries Vida Homeloans has “revamped” its fee saver residential mortgage range, with properties up to £500,000 now qualifying for a free valuation and £49 assessment fee.
Vida has reported that there are no product fees and standard legals are free on remortgages across the entire fee saver range.
The lender has also introduced a 1 per cent fee (minimum £495) for buy-to-let (B2L) mortgages on its Vida 1 tier up to a maximum loan size of £125,000, which replaces the previous fixed fee of £1,995.
The changes come following the recent introduction of Vida’s helping hand mortgage, a product which allows parents to support their children in getting onto the property ladder without being on the title deeds and jointly owning the property. AS a result of this, there is no stamp duty surcharge payable to parents.
Vida Homeloans director or mortgage sales Louise Sedgwick said: “We are always listening to feedback from mortgage intermediaries here at Vida Homeloans and constantly look for new ways to ensure our products suit borrowers who are currently not well-served by high street lenders.
“These changes to our Fee Saver residential product and specialist BTL range show our continuing appetite to grow our specialist mortgage lending.”
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