Mortgage lender, Vida, has announced that it is making several changes to its limited edition buy to let range that are aimed at supporting portfolio growth for investors.
Vida say that the changes include reducing three of the current limited edition buy to let products, one of which sees a reduction of 0.25%. The three products have a competitive fee structure with a fixed fee of just £1,995.
Rates begin at 2.89% for its two-year fixed and five-year fixes start from 3.14%. SPVs are accepted across all buy to let ranges, and the deals are available for both purchases and remortgages. The maximum loan available for these products is £1,000,000.
Vida responded to an increasing number of customers who have needs best-satisfied outside of the high street criteria and, with the latest changes to its range, aims to ensure that the proposition reflects the needs of their intermediary partners and clients by making their products some of the most competitive in the intermediary market.
Richard Tugwell, (pictured) Director of Mortgage Distribution at Vida, commented: “As the industry celebrates 25 years of buy to let, we wanted to show our commitment to the sector by making these changes to our limited edition buy to let products to ensure they are highly competitive on both rates and fees. This provides an attractive overall total cost to those landlords either seeking to expand or build their existing portfolio.
"We have been listening to our intermediaries and despite the challenges the mortgage market has faced over recent years, the UK buy to let sector is very much alive, and these changes are aimed at supporting our customers in achieving portfolio growth and reinforces our commitment to offering greater opportunities for intermediaries and their customers locked out of high street lending.”