Vida launches BTL deal with flexible exit charge

The buy-to-let deal offers landlords the option to fix their mortgage for five years, but leave penalty-free after three years.

The Vida Flex product is available up to 75 per cent loan to value (LTV) and rates start from 3.84 per cent.

Vida returned to the market in mid-August with deals available up to 85 per cent loan to value.  It was forced to stop lending in March when the country went into lockdown and the capital markets temporarily pulled up the shutters.

Vida completed a £350m securitisation in July allowing it to relaunch its range.

Louisa Sedgwick (pictured), managing director mortgages at Vida, said: “We feel overwhelmed with the incredible response from advisers that we’ve had since our return to lending.

“Vida’s new plans are all about being the lender for Britain’s underserved borrowers and helping more people find a safe place to call home.

“The positive impact we can have on so many lives continues to spur our ambitions at Vida, and we look forward to working in partnership with advisers to build a new proposition that can really support borrowers in today’s mortgage market.”