You are here: Home - News -

Vida Homeloans cuts buy-to-let rates and fees

by: Owain Thomas
  • 21/02/2017
  • 0
Vida Homeloans cuts buy-to-let rates and fees
Vida Homeloans has cut rates and fees across its buy-to-let (BTL) mortgages.

All product fees for loans up to £250,000 have been cut by £500, while those on loans over £250,000 have been cut by between 0.25% to 1.25%.

This represents a fee saving of £1,250 on a £500,000 loan or £2,500 saving on a portfolio of £1m.

All BTL loan rates have been cut by between 0.2% and 1.15%, with two year tracker deals now starting at 3.49% and two year fixed offers at 3.59%.

Vida also updated its criteria for loans.

For new build or off plan buy to let properties the initial four month offer period can be extended for a further four months on the same product and family members can reside in student let BTL properties on a house of multiple occupancy basis.

“We offer non-regulated BTL mortgages to customers whose mortgage advisers have already ascertained that they are professional landlords. We leave it to the intermediary whether to proceed with us on that basis,” a Vida spokeswoman added.

Vida’s BTL rental cover requirements are:

  • Basic rate UK tax payers – 125% cover, with top up using surplus income from 115%
  • Higher rate UK tax payers – 140% cover, with top up using surplus income from 120%
  • Trading limited companies/SPV/LLP – 125% cover, with top up using surplus income from 115%
  • HMOs – from 130% cover

Vida Homeloans director of sales – mortgages, Louisa Sedgwick said: “We have made a number of criteria improvements and we’re confident that brokers will see the value in what we’re aiming to achieve with this set of changes and will respond positively.”

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Benson Hersch, Association of Short Term Lenders
Bridging ‘defies expectations’ – ASTL

Demand for bridging loans soared in the last quarter of 2016 according to the latest figures from the Association of...