Vida, the specialist lender, has reduced rates across its Buy to Let product range by up to 0.35%, and on their Product Transfer range by 0.20%.

The lender has also launched new, Buy to Let Limited Edition products, for individual dwellings or for Houses of Multiple Occupancy/Multi Unit Blocks, which come with a 2-year fixed rate, a minimum loan size of £200,000, and a £4,995 fixed-fee available at 75% LTV.

Appropriate 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 new and reduced products, Vida has made further enhancements to their credit tiering. All defaults and CCJs are now ignored if they are under £250, making it easier for customers with smaller credit blips to get a mortgage. This adverse criteria enhancement applies to both Vida’s Residential and Buy to Let ranges.

Helen Cawthra, Head of Intermediary Relationships at Vida said: 

“These new rate reductions will help our partners to help more of their customers to secure their specialist mortgage at a lower rate. The new Limited Editions will allow a variety of landlords to access products with a lower rate that suits their specialist requirements, with the flexibility of a 2-year fix and lower monthly payment for improved stress-testing.

Additionally, by disregarding any defaults or CCJs under £250 as part of our credit tiering, we can help those individuals who may have had a small, historic credit blip to get a mortgage and find a place to call home.

Intermediaries can contact the V-Hub to discuss any case and take advantage of these rate reductions. With direct access to our specialist experts and underwriters, intermediaries can be confident in our efficient service levels coupled with dedicated support.”