Fixed rates have been lowered by as much as 0.7 per cent with the lowest rate being a five-year fixed rate at 70 per cent loan to value (LTV) with a five-year fixed at 6.39 per cent.
On buy to let, variable rates have decreased by as much as 1.35 per cent, with two-year variable deals at 80 per cent LTV available at 5.49 per cent.
Product fees have also been halved from two per cent to one per cent on buy-to-let two-year fixed rate products.
The lender has extended the maximum LTV for residential variable rate products up to 80 per cent LTV which it said would help buyers with a smaller deposit.
An example is a two-year variable mortgage at 70 per cent LTV which is priced at 6.29 per cent.
Helen Cawthra, head of intermediary relationships at Vida, said: “Last week, we launched our new centralised decisioning unit, V-Hub, which gives intermediaries direct access to dedicated underwriters who will help them with every type of query from pre-application through to complex case management and completions.
“This week, we are further strengthening our proposition with reductions across our entire product range, giving brokers attractive options to discuss with their clients.”
Last week, Vida said that it would combine its intermediary relationship and decision-making teams into one hub, which it said would “enable brokers to get answers to queries “quickly, easily and accurately”.
MPowered Mortgages lowers two and three-year fixed rates
Fintech mortgage lender MPowered Mortgages has reduced rates across its two and three-year fixed ranges, and added a 10-year fixed products at 75 per cent LTV.
Residential two-year fixed products with a £999 arrangement fee at 60 and 75 per cent LTV have been cut by 0.35 per cent.
Deals at 80 and 75 per cent LTV have gone down by 0.3 per cent.
Fee-free two-year fixed products at 60 and 75 per cent LTV have fallen by 0.4 per cent, and at 80 and 85 per cent LTV the reduction is 0.35 per cent.
Three-year fixed rates with no fee and £999 fee at 65 per cent LTV have been cut by 0.35 per cent, and at 75 per cent LTV this fall is 0.25 per cent and 0.4 per cent at 80 and 85 per cent LTV.
The lender has added a 10-year fixed rate at 75 per cent LTV with rates starting at 4.79 per cent. It has fee-free and £999 fee options.
Emma Hollingworth, managing director of mortgages at MPowered Mortgages, said: “Lenders have an important role to play in supporting homebuyers and remortgagers during this difficult period and we urge all prospective homebuyers and remortgagers to seek advice now via a mortgage adviser, more than ever before.
“As the cost of living continues to squeeze finances, we see this as an important aspect of what we do and are delighted to be able to reduce our fixed rates today and will continue to do our utmost to keep these as low as we possibly can.”
