Vida Homeloans has announced it is extending its product range from 90 to 270 products.

The specialist lender said the move would reflect the “growing variety and complexity of cases brokers are faced with”.

As part of a variety of changes, Vida has also introduced additional tiers to allow more effective pricing, and confirmed it is increasing proc fees to 0.6% for clubs and networks, and to 1% for packagers.

Vida said that the long-term implications of the coronavirus pandemic mean there is a “new generation of borrowers” with increasingly complex financial situations who need the support of specialist lenders.

The latest changes follow several other initiatives launched by Vida last year, such as its Intermediary Product Switch Portal, which enables users to complete the product transfer journey for their customers in less than 15 minutes online.

Vida director of mortgage distribution, Richard Tugwell, commented: “We are committed to continually enhancing our service and product offering to provide these borrowers with greater choice and flexibility. The initiatives launched today are another step in achieving this, and we’re confident that these offerings are a great solution to help borrowers who are cut out of traditional mainstream lending.

“With more changes set to come, we are fully committed to ensure that we meet our stated ambitions to have a market leading proposition, keen pricing, high service levels and a sales and relationship team available when brokers need them. By concentrating on this we will help intermediaries to build longer lasting relationships with their clients.”

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