Vida, the specialist lending firm, has announced significant reductions in their fixed rate buy-to-let and residential mortgage products. The reductions include a substantial cut of up to 1.05% on residential rates.
Among the adjusted products, the Vida 36 standard 2-year fixed rate is now 6.49%, and the 5-year fixed rate is 6.14%, both at a 75% loan-to-value ratio. Additionally, the Vida 36 fee saver 5-year fixed rate is set at 6.34% at 75% LTV.
In the buy-to-let sector, both standard and limited edition rates have seen reductions of up to 0.80%. Notably, the Vida 36 standard 5-year fixed rate is now offered at 5.04% at 75% LTV, and the standard limited edition 2-year fixed rate stands at 6.00% at 65% LTV and 6.20% at 75% LTV, applicable to individual units, HMOs, or MUBs.
Vida has also reduced rates across its retention product range by up to 0.75%. These changes are underpinned by the Vida Service Pledge, ensuring a high standard of service for brokers, with the promise of a refund of the £180 application admin fee if expectations are not met.
Helen Cawthra, head of intermediary relationships at Vida, said: “As we start the year with growing confidence in the market and swap rates improving, we’re pleased to share the latest reductions to our fixed rate product range, helping both new and existing customers.”
