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Vida brings out limited edition resi and BTL products

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  • 08/02/2022
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Vida brings out limited edition resi and BTL products
Vida has brought limited edition core and fee-saver residential products to its standard and buy-to-let (BTL) range.

 

The lender has added four products to its residential range, available for home movers, remortgagors and first-time buyers.

This includes its two-year fixed rate Vida 48 product, which is available up to 90 per cent loan to value (LTV) at a rate of 3.99 per cent. It will also offer a fee-saver product up to 90 per cent LTV with a rate of 4.49 per cent.

Its Vida 36 core product, also on two-year fixed rate term, is available up to 90 per cent LTV with a rate of 4.39 per cent.

The lender has also brought out a fee-saver product at 90 per cent LTV with a rate of 4.89 per cent. The fee-saver version offers free valuation and £250 contribution towards legal fees, paid within 30 days of completion.

Vida has also added limited five-year fixed rate products to its BTL range for purchase and remortgage.

This includes a fee-free 75 per cent LTV product with a rate of 3.19 per cent, as well as a standard BTL product at the same LTV tier with a rate of 3.04 per cent and a fee of £1,495.

It has also introduced a houses in multiple occupancy (HMO) product at 75 per cent LTV with a rate of 3.19 per cent. This is subject to a £1,995 fee.

Richard Tugwell (pictured), director of mortgage distribution at Vida, said: “As a lending specialist we are constantly assessing the market, monitoring demand and looking to ensure we are always providing a first class service and enhancing our offering.

“We are dedicated to supporting under-served borrowers and making homeownership more widely accessible. Our new product launches today are another step in achieving this, and we’re confident that these offerings are a great solution to help borrowers who are cut out of traditional high street lending.”

The lender has made other changes to its offering, including the expansion of the list of countries accepted in its expat range, creating a bespoke key worker product, extending its Help to Buy range and making 90 per cent LTV mortgages available on all houses and flats.

It has also made three hires to its sales team, including Helen Cawthra as its corporate sales manager, Andy Alvarez as its national sales manager and Scott Phillips as specialist distribution manager.

The company is also understood to be working on a banking licence application and is in the early stages of working with the Prudential Regulatory Authority.

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