Complex Buy To Let
Vida slashes buy-to-let rates by up to 40bps
Vida Homeloans has made rate reductions on a series of buy-to-let mortgages including its core and ex-pat offerings.
Rates within its Vida 1 homes in multiple occupancy (HMO) and multi-unit blocks (MUB) range start from 3.29 per cent for a two-year fixed mortgage at 70 per cent loan to value (LTV), reduced from 3.69 per cent.
In the same range, the five-year fixed at 70 per cent LTV has been cut by 30 basis points (bps) to 3.69 per cent.
Elsewhere, the core two-year fixed buy-to-let mortgage at 70 per cent LTV has a rate of 2.89 per cent while the five-year fixed alternative is set to 3.29 per cent following a 0.1 per cent reduction on both.
For ex-pat borrowers, rates have been reduced by five bps. This includes the two-year fixed at 70 per cent which now has a rate of 3.59 per cent and the five-year fixed option with a rate of 3.89 per cent.
Going digital
Sponsored by Halifax Intermediaries
Louisa Sedgwick (pictured), managing director of mortgages at Vida, said: “Britain’s private rented sector plays a critical role for millions of people across the UK, but just like many others, landlords have not been immune from economic impact of Covid-19.
“A strong specialist lending sector that offers competitive rates and innovative solutions has therefore never been more important. Our rate changes today means we are able to provide landlords with greater choice and flexibility so that they can continue to provide housing for those who need or want to rent.”