This includes Vida’s two- and five-year fixes for BTL borrowers, with the largest cuts made across products for houses in multiple occupation (HMOs) and multi-unit block (MUB) properties. 

This includes reductions to its fee-free options and lower-rate products with a 4% fee. 

Rates begin at 6.41% for a five-year fix. 

The products are open to first-time landlords as well as experienced portfolio landlords, including those who borrow in their own name or through limited companies. 

There is no minimum income requirement, and the interest coverage ratio (ICR) is 125% for basic-rate taxpayers and limited company borrowers, or 140% for higher-rate taxpayers. 

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Vida has also cut residential mortgage rates, including its five-year fixes and options for applicants with higher levels of adverse credit. It has also reduced two-year products for Right to Buy. 

The lender’s five-year fixed residential rates begin at 6.54%. 

Its residential criteria allows borrowers up to the age of 80 at the end of the mortgage term, with terms as long as 45 years to assist with affordability. 

Vida will consider borrowers with adverse credit, second jobs, contractors, complex income and the self-employed. 

Helen Cawthra (pictured), head of intermediary relationships at Vida, said: “These new rate reductions in buy-to-let and residential will help our partners to help more of their customers to secure their specialist mortgage at a lower rate alongside the stability of a five-year fix. 

“Intermediaries can contact the V-Hub to speak with us about any cases to take advantage of these rate reductions. There, they can speak with experts and underwriters directly and be confident in our efficient service levels coupled with dedicated intermediary support.”

Last month, Vida enhanced select BTL deals.