"We have received an overwhelming response from our intermediary partners and are seeing unprecedented application volumes."
The products being withdrawn include two-year fixed rates at 80% and 85% LTV and five-year fixed rates at 85% LTV across its residential and buy-to-let ranges.
Vida is also temporarily withdrawing its two-year fixed rate Right to Buy and Help to Buy mortgages.
On residential products, five-year fixed rates on Vida 1, Vida 2 and Vida 3 will increase by 20bps at 70% LTV, 75% LTV and 80% LTV. Right to Buy five-year fixed rates are increasing by 20bps and five-year Help to Buy rates by 30bps.
In Vida's buy-to-let range, two-year fixed rates on Vida 1 and Vida 2 will increase by 15bps at 70% LTV and 75% LTV. Five-year fixed rates on Vida 1 and Vida 2 will increase by 15bps at 70% LTV, 75% LTV and 80% LTV.
Decisions in Principle need to be submitted by close of business on Monday 12th October. Applications, together with all relevant mandatory documents, must be uploaded by close of business on Thursday 15th October.
Louisa Sedgwick, managing director of mortgages at Vida, commented: “Following our relaunch back into the intermediary market in September, we have received an overwhelming response from our intermediary partners and are seeing unprecedented application volumes. As a result, we are temporarily withdrawing a number of our products in order to protect our service to intermediaries and their customers.
"We anticipate having to maintain a smaller product range for only a limited period of time, while we process our existing pipeline of applications. We want to make sure that we maintain strong service standards whilst dealing with the incredibly strong application volumes we have received in recent weeks.
"As ever, we remain 100% committed to intermediaries and will return as soon as possible with our full product offering, including loans up to 85% LTV.”
