"Specialist lending is continuing to grow and has become an important focus for the intermediary sector."
The cuts apply to the lender’s standard, fee saver, Help to Buy and Right to Buy products across Vida’s lending tiers which cater for residential customers who have had a complex credit profile in the last 24 months.
Two-year fixed rates have reduced by up to 65bps and five-year products by up to 45bps.
Vida is also reducing rates on its buy-to-let range, including standard, fee saver, expat and HMO/MUB products.
Two-year fixed rates have been cut by up to 25bps and five-year rates by up to 60bps.
Louisa Sedgwick, managing director of mortgages at Vida Homeloans, said: “Whether it’s an unconventional income pattern or improving credit profile, customers with more complex circumstances have traditionally been underserved by the high street. At Vida, we can help these borrowers make their property dreams a reality by supporting them with a flexible range of good value products.
“Specialist lending is continuing to grow and has become an important focus for the intermediary sector. With the high street lenders’ perception of a ‘perfect borrower’ not supporting everyday customer needs, specialist lenders play a crucial role in helping turn generation rent into generation own by catering for those underserved by mainstream banks and building societies.”
