The product has a 1.5% fee (which can be added to the loan) and is available on Vida’s core BTL criteria such as flats over commercial premises. Landlords using Special Purpose Vehicles (SPVs) are also eligible.
Richard Tugwell, Director of Mortgage Distribution at Vida, commented:
“Buy to Let is a real focus for us right now. Many landlords who have experienced issues with fluctuating income during the Covid-19 pandemic are investing in specialist property types such as flats above commercial premises. And that’s when they need the support of specialist lenders like Vida who can help them with their more complex requirements. Our new 3.29% 5-year fixed rate remortgage product, available up to 75% LTV, gives landlords more flexibility and choice if they are looking to reduce their monthly mortgage payments or extend their BTL portfolios through capital raising.”
