Vida, the specialist lender, has enhanced its residential range with a new Limited Edition product at 90% LTV with a 2 year fixed rate. 

Available on the Vida 36 credit tier at a rate of 7.34%, the new 2 year product is in addition to the 5 year and 7 year fixed options already available, and ideal for First Time Buyers looking for flexibility with a shorter fixed term. The product comes with a fixed-fee of £1,495. 

The new 90% Limited Edition product is an additional enhancement to Vida’s existing specialist residential criteria which includes adverse credit history, complex incomes and second jobs, self-employed, new build properties and a potential mortgage term of up to 45 years with a maximum age of 80. 

Vida has also made rate cuts to two of its Buy to Let products by 0.33%. The two products are available on the Vida 36 credit tier, up to 75% LTV and 5 year fixed, with a 2% fee option at a rate of 5.46% and a 4% fee option at a rate of 5.06%. 

Vida has recently made enhancements to their credit tiering, defaults and CCJs under £250 are now excluded from the product tier allocation, 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:  

“We’re pleased to be able to offer yet another 90% LTV product to our residential range, to support First Time Buyers achieve their home-ownership dream. This also gives them the opportunity to gain a longer work history or repair their credit within the 2-year fixed rate period. 

Our reduced rate, Buy to Let products will also support landlords and offer stability with the 5-year fixed rate and flexibility of two fee options.  

Brokers should take a look at our Product Switch Hub should have they have any customers coming to the end of their deal looking for a new product or potentially cheaper rate. 

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.”