Vida launches new free valuation residential mortgage

Written by Oliver Wade

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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Specialist FTB and BTL markets
Adam Cadle talks to Vida Homeloans director of sales - mortgages Louisa Sedgwick about the specialist first time buyer and buy to let markets


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