Vida, the specialist lender, has further enhanced its range with limited-edition buy-to-let products across standard buy-to-let and HMO’s.
The two products have lower initial rates and higher product fees to provide the option for borrowers to maximise loan size and affordability.
Available on the Vida 48 tier, the products offer a 75% loan-to-value (LTV) on a 5-year fixed rate, with a 3% fee.
The standard buy-to-let product has a rate of 5.24% with the HMO product at 5.44%.
Helen Cawthra, head of intermediary relationships at Vida said: “As the lending specialist we are constantly assessing the market, monitoring demand, and looking at ways to support our intermediary partners.
“These new limited editions will allow a variety of landlords to access products with a lower rate that suits their specialist requirements, with the stability of a 5-year fix.
“Intermediaries can speak to us about their buy-to-let cases by contacting the V-Hub, where they can speak with experts and underwriters directly and be confident in our efficient service levels coupled with dedicated intermediary support.”
Available to first time or portfolio landlords and up to 4 applicants with combined incomes, the products are suitable for individual landlords, or for Day 1 Limited Company SPVs.
The products are complimented by Vida’s buy-to-let criteria, such as no minimum income, specialist properties such as flats above/adjacent commercial, and Income Calculation Ratio (ICR) for higher rate taxpayers of 140%.
As limited editions, these new products have a restricted tranche size and may therefore be withdrawn at very short notice.
