"We have made a number of criteria improvements and we’re confident that brokers will see the value in what we’re aiming to achieve"
Buy-to-let product fees have also been reduced by £500 on all loans below £250K (now at £1,495), and by 0.25% on larger loans (now 1.25%). This represents a fee saving of £1,250 on a £500k loan or £2,500 on a portfolio of £1m.
For New Build or Off Plan buy-to-let properties the initial four month offer period can now be extended for a further four months on the same product and family members can reside in student let BTL properties.
Louisa Sedgwick, Director of Sales – Mortgages, Vida Homeloans, commented: “Vida Homeloans is committed to offering the best value to both residential and buy-to-let customers, and the latest refresh of our BTL rates and fees is part of that commitment.
"Our aim at Vida is to offer landlords innovation and flexibility in securing the best mortgage deal for their client’s needs, while also ensuring the all-important rate works for their portfolio. We have made a number of criteria improvements and we’re confident that brokers will see the value in what we’re aiming to achieve with this set of changes and will respond positively.”