Vida launches new Free Valuation residential mortgage

Specialist Residential and BTL mortgage lender

Specialist lender also introduces new lower 1% fee for BTL mortgages for smaller loans

 

Vida Homeloans, the specialist mortgage lender for intermediaries, has revamped its Fee Saver residential mortgage range. Properties up to £500,000 now qualify for a free valuation and a significantly reduced £49 assessment fee. There are no product fees and standard legals are free on remortgages across the entire Fee Saver range.

Vida has also introduced a 1% fee (minimum £495) for BTL mortgages on its Vida 1 tier up to a maximum loan size of £125,000, replacing the previous fixed fee of £1,995.

These changes follow a series of new product launches and updates from Vida, including the recent introduction of their Helping Hand mortgage, the Joint Borrower Sole Proprietor mortgage from a specialist lender. Helping Hand assists parents in getting their children onto the housing ladder without being on the title deeds and jointly owning the property. This means that no stamp duty surcharge is payable by parents.

Louisa Sedgwick, Director of Sales – Mortgages at Vida Homeloans, said: “We are always listening to feedback from mortgage intermediaries here at Vida Homeloans and constantly look for new ways to ensure our products suit borrowers who are currently not well-served by high street lenders.

“These changes to our Fee Saver residential product and specialist BTL range show our continuing appetite to grow our specialist mortgage lending.”