Mortgage lender, Vida Homeloans, says it hopes to offer landlords ‘innovation and flexibility’ by cutting its buy to let mortgage fees and rates and making adjustments to its product criteria.
Vida Homeloans has reduced its buy to let product fees by £500, from £1,995 to £1,495. The reduction in fees applies to all loans below £250,000.
As for loans above £250,000, the lender has cut its rates by 0.25% to 1.25%.
The lender’s buy to let criteria has also been refreshed, with Vida extending its four-month offer period on new build and off-plan buy to let mortgages by an extra four months.
Vida also now allows family members to live in student-let buy to let properties.
Louisa Sedgwick, director of sales – mortgages at Vida Homeloans said:
“Our aim at Vida is to offer landlords innovation and flexibility in securing the best mortgage deal for their clients’ needs, while also ensuring the all-important rate works for their portfolio.
“We have made a number of criteria improvements and we’re confident that brokers will see the value in what we’re aiming to achieve with this set of changes and will respond
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