The largest incentive is available on residential mortgages above 90% loan to value (LTV), including its 97% LTV offering, which launched earlier this year. Vida said this was to support first-time buyers who faced high costs when moving into or furnishing their first home.
Vida has unveiled a comprehensive cashback package across its residential and BTL ranges, reinforcing its commitment to helping more people find a place to call home.
The lender is also offering £500 cashback on selected residential products at 75% LTV across all tiers, and £500 cashback on selected BTL products at the same bracket on its Vida 36 criteria. This will include borrowing for standard properties, houses in multiple occupation (HMO) and multi-unit blocks (MUB), expats and the entire fee saver range.
Vida said this built on the success of its 97% LTV product and underpinned its commitment to first-time buyers and underserved parts of the market.
The lender recently updated its affordability and loan to income (LTI) ratios, offering up to seven times income for applicants earning £60,000 and over each year, up to 90% LTV.
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Simon Chapman, head of group marketing at Vida, said: “We’re proud to be expanding our offering to include cashback and supporting more borrowers at every stage of their journey.
“Whether it’s a first-time buyer needing help with initial costs or a landlord investing in their next property, these enhancements reflect our mission to make homeownership more accessible and inclusive.”
