Vida Homeloans has announced the introduction of an 80% LTV five-year fixed fee special to its buy-to-let (BTL) range at 4.34%.
The specialist mortgage lender confirmed the product is available to the whole of market on both a purchase and remortgage basis.
The product has a fixed fee of £3,750 with a maximum loan size of £750,000, and a free valuation for all properties up to the value of £1m.
Vida suggested the move comes as part of a “continuing commitment” to offer mortgage intermediaries a wide range of flexible BTL products at competitive rates.
Despite a slowdown in the BTL market in 2020, according to figures from the Intermediary Mortgage Lenders Association (IMLA), a modest recovery is expected in overall BTL lending in 2021 to £40bn – with BTL remortgaging expected to increase to £28.2bn this year.
Vida director of mortgage distribution, Richard Tugwell, commented: “COVID-19 has impacted the financial circumstances of millions of people across the UK, and landlords are no exception.
“Many have experienced issues with rental yield or are investing in more specialist property types, so they will need the support of expert lenders like Vida who can help them despite their more complex requirements.
“A thriving rental sector is key to the recovery of the UK housing market, and with a strong growth trajectory expected in the remortgage BTL sector this year, landlords have a good opportunity to focus on capital raising to extend their BTL portfolios. We’re confident that our fixed fee special is an ideal solution for landlords with several HMOs or MUBs, looking for greater choice and flexibility for larger loan sizes up to 80% LTV.”
Latest News
-
Average mortgage rates creep up for first time in eight months
-
SIPP withdrawal requests jump 33% ahead of Autumn Budget
-
44% of first-time buyers looking at new builds, study finds
-
Barclays and TSB partner with housebuilders to create Rezide Equity Loan
-
Tories pledge to scrap stamp duty on primary residencies
-
Economic climate taking emotional toll on three in four consumers
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories