Vida Homeloans cuts BTL rates to offer ‘greater flexibility and choice’

Vida Homeloans has reduced rates across its buy-to-let range by up to 0.5%, with the lowest two-year fixed rate now starting from 3.14% and five-year deal at 3.59%.

The lender has also added an 85% LTV buy-to-let product for loans up to £250,000, while also improving its expat criteria.

LTVs for buy-to-let applicants resident in a non-EEA country has increased from 65% to 75%, while they can also now borrow via an SPV, as well as  benefit from rate cuts.

The specialist lender’s landlords can now bring up to 20 properties to Vida, up from 15, and their total portfolio can be up to 100 properties.

Louisa Sedgwick, director of sales, mortgages at Vida Homeloans, said: “Not only do they [the new products] offer greater flexibility and choice, but they also provide genuine affordable solutions for customers.

“We have also taken broker feedback onboard and have worked hard to improve our service propositions to enable a smoother journey.”

Aside from revamp its buy-to-let proposition; Vida Homeloans has also updated its residential products.

In fact, Vida says that this is its biggest product update since its launch into the market in October 2016.

“Not only do they [the new products] offer greater flexibility and choice, but they also provide genuine affordable solutions for customers,” said Sedgwick.

“I’m confident that these updates to our residential and buy-to-let propositions will be received positively,” he added.

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