Reductions for buy-to-let are across 2- and 5-year fixed rates, with HMO/MUB and expat products seeing the largest cuts. These products are available for all types of landlord, from first time landlords to those with portfolios, and are subject to Vida's BTL criteria including an ICR of 125% for basic rate taxpayers and 140% for SPVs and higher rate taxpayers.
For residential borrowers, the rate reductions are on 5-year fixed rate products, particularly those aimed at borrowers with higher adverse, and the lender's 2-year Right to Buy products.
Helen Cawthra, head of intermediary relationships at Vida, said:
“These new rate reductions in BTL and Residential will help our partners to help more of their customers to secure their specialist mortgage at a lower rate alongside the stability of a five-year fix.
"Intermediaries can contact the V-Hub to speak with us about any cases to take advantage of these rate reductions. There, they can speak with experts and underwriters directly and be confident in our efficient service levels coupled with dedicated intermediary support.”
