Vida, the specialist lender, has reduced rates across its Buy to Let and Residential product ranges by up to 0.35%.

The Buy to Let reductions are spread across both 2 and 5 year products with the largest reductions reserved for HMOs/MUBs and Expats. These include cuts to all Fee Savers and those lower rate products with a 4% fee.

Considered for First Time Landlords through to experienced Portfolio Landlords, the products are suitable for both individual landlords and Limited Company SPVs and are complimented with Vida’s Buy to Let criteria, such as no minimum income, specialist properties such as flats above/adjacent commercial, and Interest Cover Ratio (ICR) of 125% for basic rate taxpayers and SPVs and 140% for higher rate taxpayers.

In addition to the Buy to Let reductions, the Residential range also has rate decreases.

Reductions are focussed on the 5 year products, in particular those accepting applicants with higher levels of adverse. Vida’s 2-year Right to Buy products are also reduced.

Vida’s Residential criteria allows a maximum age of 80 years old at the end of term, with a term up to 45 years considered to help with affordability challenges. They will also consider those with adverse credit, second jobs, contractors, complex income and the self-employed.

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.”