Vida has enhanced its residential mortgage range with the launch of a new Limited Edition product at 90% loan-to-value (LTV) with a 2-year fixed rate.
Available on the Vida 36 credit tier at a rate of 7.34%, the 2-year product is in addition to the 5-year and 7-year fixed options already available, aimed at first-time buyers looking for flexibility with a shorter fixed term.
The product also comes with a fixed-fee of £1,495.
The 90% Limited Edition product is an additional enhancement to Vida’s existing specialist residential criteria, which includes adverse credit history, complex incomes and second jobs, self-employed, new-build properties and a potential mortgage term of up to 45-years with a maximum age of 80.
Vida has also made rate cuts to two of its buy-to-let products by 0.33%.
The products are available on the Vida 36 credit tier, up to 75% LTV and 5-year fixed, with a 2% fee option at a rate of 5.46% and a 4% fee option at a rate of 5.06%.
Helen Cawthra, head of intermediary relationships at Vida, said: “We’re pleased to be able to offer yet another 90% LTV product to our residential range, to support first-time buyers achieve their home-ownership dream.
“This also gives them the opportunity to gain a longer work history or repair their credit within the 2-year fixed rate period.
“Our reduced rate, buy-to-let products will also support landlords and offer stability with the 5-year fixed rate and flexibility of two fee options.
Brokers should take a look at our Product Switch Hub should have 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.”
