The range is a new offering following the lender’s pilot period with distributors as part of a test and learn phase.
For purchasers, Vida includes one free standard valuation and £200 contribution to legal fees, with two-year fixed rates from 3.79 per cent for qualifying new builds up to HTB limits. Gifted deposits and a HTB ISA (including bonus) are permitted, with builder incentives considered above a customer’s five per cent deposit.
The specialist lender is also offering a HTB remortgage option, with two-year fixed rates from 4.39 per cent.
The remortgaging options include both a pound-for-pound product for those hoping to reduce mortgage payments, as well as a staircasing option for customers who want to increase their equity stake.
Remortgage products include a £0 product fee, one free standard valuation and a £200 contribution to legal fees.
Vida’s lending criteria apply to all its HTB products, including a minimum income of £15,000, up to four incomes accepted, impaired credit history and complex incomes considered, and the initial six-month offer is extendable by another six.
Louisa Sedgwick, director of sales, mortgages at Vida Homeloans, said: “Vida is thrilled to be able to further support the evolving and resilient first-time buyer market by announcing new Help to Buy purchase and remortgage products.
“The Help to Buy scheme has already proved to be of great value to first-time buyers, helping to secure their first foot on the property ladder.
“With the number of first-time buyers reaching a 12-year high last year, it’s vital that the mortgage lending industry does its bit to continue supporting this demographic, driving the market forward.”
