| Product | Initial Rate | Product Fee | Redemption Fees |
|---|---|---|---|
| 2 year fixed | 6.99% | £795 | 4% / 3% |
| 2 year fixed, fee free | 7.44% | £0 | 4% / 3% |
| 5 year fixed | 6.49% | £795 | 5% / 5% / 4% / 3% / 2% |
| 5 year fixed, fee free | 6.64% | £0 | 5% / 5% / 4% / 3% / 2% |
| Product | Initial Rate | Product Fee | Redemption Fees |
|---|---|---|---|
| 2 year fixed | 7.19% | £795 | 4% / 3% |
| 2 year fixed, fee free | 7.64% | £0 | 4% / 3% |
| 5 year fixed | 6.69% | £795 | 5% / 5% / 4% / 3% / 2% |
| 5 year fixed, fee free | 6.84% | £0 | 5% / 5% / 4% / 3% / 2% |
| Product | Initial Rate | Product Fee | Redemption Fees |
|---|---|---|---|
| 2 year fixed | 7.04% | £795 | 4% / 3% |
| 5 year fixed | 6.59% | £795 | 5% / 5% / 4% / 3% / 2% |
Vida Variable Rate (VVR)
6.80% set on 01.12.2024
Revert Rate
9.44% (VVR + 2.64%)
What is Revert Rate?
The revert rate is the variable interest rate you will move on to when your fixed rate period on your mortgage ends should you decide not to refix your loan with Vida or another lender. The revert rate is charged at a margin
above the Vida Variable Rate which tends to move up down closely in line with the movement in the Bank of England Base Rate.
Product Fee
This is the fee for arranging the mortgage. It is typically added to the loan although their is an option to pay it upfront. If paying upfront, we can accept payment via a UK debit/credit card before the offer is accepted. Where a
product fee is a percentage of the loan this is calculated based on the mortgage balance at the time the illustration and offer are produced. Monthly interest is added to the account at the beginning of the month and therefore
if you produce the offer before you have made your monthly payment the product fee may be higher.
Redemption Fee
This is the fee to pay Vida if all or part of the mortgage is repayed earlier than the end of the agreed fixed rate term. This may also be payable if you move house and are not able to take the mortgage to the new property, or
if you remortgage during the initial rate period of the mortgage. A redemption fee is typically expressed as a percentage of the loan amount so if a mortgage has a redemption fee of 2% of the mortgage balance, on a £100,000
mortgage that would equate to a fee of £2,000. Overpayments can be made of up to 10% In any rolling 12 month period without any charge being made.
