Specialist mortgage lender for intermediaries Vida Homeloans has recently reduced several five-year fixed rate buy-to-let (B2L) products by up to 0.75 per cent.
The lender has also reduced rates in it five-year B2L Expat rates, a product available to customers in over 190 countries. Vida has said that the rate reduction applies to houses in multiple occupation (HMOs), multi-unit blocks, limited companies, loans above £1m and first-time buyers/first-time landlords, while the current reduced fee of 1% is also applicable on these new rates.
The changes come following a series of new product launches and updates from Vida, including the introduction of its Helping Hand mortgage, the first joint borrower sole proprietor mortgage from a specialist lender.
Vida Homeloans director of mortgage sales Louisa Sedgwick said: “Vida Homeloans is always keen to offer the best value to both residential and buy-to-let customers, and that commitment is shown with this change to our 5-year fixed rate BTL product.
“Our aim at Vida is to allow mortgage brokers to secure the best deal for their landlord clients. The fact that specialist niches such as limited companies, HMOs and Expats are included makes them even more appealing, and we are confident that we will see a positive response from brokers.”
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