"These new limited editions will allow a variety of landlords to access products with a lower rate that suits their specialist requirements"
Vida has launched new limited-edition standard buy-to-let and HMO products.
The two products have lower initial rates and higher product fees to provide the option for borrowers to maximise loan size and affordability. Available on the Vida 48 tier, the five-year fixed rates are available up to 75% LTV with a 3% fee.
The standard buy-to-let product has a rate of 5.24% with the HMO product at 5.44%.
Available to first time or portfolio landlords and up to 4 applicants with combined incomes, the products are suitable for individual landlords, or for day 1 limited company SPVs.
Vida’s buy-to-let criteria includes no minimum income, specialist properties such as flats above/adjacent commercial, and ICR for higher rate taxpayers of 140%.
Helen Cawthra, head of intermediary relationships at Vida, said: “As the lending specialist we are constantly assessing the market, monitoring demand, and looking at ways to support our intermediary partners. These new limited editions will allow a variety of landlords to access products with a lower rate that suits their specialist requirements, with the stability of a five-year fix. Intermediaries can speak to us about their buy-to-let cases by contacting the V-Hub, where they can speak with experts and underwriters directly and be confident in our efficient service levels coupled with dedicated intermediary support.”
