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Principality and Vida tweak product lines

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  • 02/05/2017
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Principality and Vida tweak product lines
Principality Building Society has cut rates across much of its product range and Vida Homeloans has added free legal work.

The Principality has cut rates across its residential, buy to let, affordable housing and Help to Buy Wales product offering.

The building society’s changes include:

  • All residential discounted products have been reduced by 0.15%
  • Selected buy-to-let discounted products have been reduced by 0.10%
  • Three-year fixed residential products reduced by 0.20%
  • Affordable housing products reduced by 0.50%
  • Help to Buy Wales products reduced by more than 1% to be brought in line with equivalent 75% loan to value (LTV) residential products
  • 90% LTV residential fixed products reduced by 0.10%

Principality head of regulated sales Shaun Middleton said: “We are reducing our rates to help our customers prosper in their homes and to provide our intermediaries with additional opportunities to engage with their clients to talk about their mortgage requirements.”

 

Free legals

Meanwhile, Vida Homeloans has added free legals for residential remortgages to its range of fee saver products.

It has also increased the maximum LTV by 5% on Vida 3, Vida 4, Vida 5 and Vida 6 products which are available to borrowers with impaired credit history.

Vida Homeloans director of sales, mortgages Louisa Sedgwick said the lender was delighted to add free legal services for remortgage cases.

“Our rapid growth in the specialist residential and buy to let mortgage sectors has been based on feedback from brokers, packagers and networks,” she said.

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