Vida Homeloans cuts its buy-to-let rates


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BTL tracker and fixed rates are reduced by up to 0.60%

Vida Homeloans, the specialist mortgage lender for intermediaries, has today cut its two-year tracker, two-year fixed and five-year fixed rates on buy-to-let products by up to 0.60% and reduced the revert rates across its entire buy-to-let product range.

The rate cuts mean that Vida’s two-year tracker rates are reduced to as low as 3.24%, its two-year fixed rates to 3.34% and its five-year fixed rates to 3.89%. These rates apply to all individual, limited company and HMO applications.

Vida’s BTL rental cover requirements are as follows:

  • Basic rate UK tax payers 125% cover with top up from 115%
  • Higher rate UK tax payers 140% cover with top up from 120%
  • Trading limited companies/SPV/LLP 125% cover with top up from 115%
  • HMOs from 130% cover

Louisa Sedgwick, Director of Sales – mortgages comments:

“We have quickly established ourselves as a lender with an appetite for specialist residential and buy-to-let business, and these changes should ensure that we remain very competitive in this important segment of the buy-to-let market. We already had some great criteria in areas such as limited companies and SPVs, flats above commercial premises and HMOs up to 8 bedrooms. Now we have even more competitive pricing too.”

Ying Tan, Managing Director, Buy to Let Club adds:

“With these new rates, Vida Homeloans is definitely positioning itself at the top of the BTL charts. These changes will help us offer our landlords innovation and flexibility in securing the best mortgage deal for their client’s needs, while also ensuring the all-important rate works for their portfolio.”