The specialist lender is applying the cuts to its new business products.

Its residential deals are being cut by between 0.15% and 0.3%, while its BTL deals are being reduced by between 0.05% and 0.3%.

The lowest priced residential product is on the Vida 36 credit tier, with a rate of 6.24% at 75% LTV.

At the same time, the cheapest BTL product is priced at 5.01%, also on the Vida 36 credit tier at 75% LTV.

The reductions include the recently launched two-year fixed 90% limited-edition product on the residential range, which is targeted at first-time buyers.

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Helen Cawthra, head of intermediary relationships at Vida, said: “Due to rates falling in the market meaning lower funding costs, we’re pleased to be able to pass on yet more reductions to our intermediary partners and customers.

“Brokers should take a look at our Product Switch Hub should… they have any customers coming to the end of their deal looking for a new product or potentially cheaper rate.

“Intermediaries can contact the V-Hub to discuss any case and take advantage of these rate reductions.

“With direct access to our specialist experts and underwriters, intermediaries can be confident in our efficient service levels coupled with dedicated support.”

 

Keystone cuts fixed rates

Meanwhile, Keystone Property Finance has also cut its fixed rates by up to 25 basis points (bps).

It marks the firm’s sixth anniversary of becoming a lender in its own right.

It has cut rates on its standard, specialist, expat, product transfers, and holiday lets, along with its switch and fix deals.

The reductions include 10bps on its standard fixed rates, where rates now start at 4.4%.

Its specialist fixed rates have been cut by up to 20bps, with rates now starting at 4.09%, while expat and holiday let fixed rates have been cut by up to 25bps, with rates now starting at 4.64%.

Its switch and fix products have been cut by up to 25bps, with rates now starting at 5.54%.

Finally, product transfers have been cut by up to 20bps, with rates now starting at 4.79%.

Elise Coole, managing director of Keystone Property Finance, said: “As we mark our sixth anniversary, we are thrilled to celebrate by significantly reducing our fixed rate mortgage rates.

“This milestone is not just a reflection of our growth, but another opportunity to give back to the brokers and borrowers who have supported us along the way.

“Recent decreases in swap rates have provided us with the opportunity to pass on these savings directly to our clients.

“At Keystone, we have always been committed to ensuring that any reductions in funding costs benefit our borrowers as soon as possible. This approach has been a fundamental part of our mission and we remain steadfast in our dedication to offering the most competitive rates available to our customers.”