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Vida, the specialist mortgage lender, has today announced the introduction of limited edition 2-year and 5-year fixed rates to its Vida 1 Buy to Let (BTL) range up to a maximum LTV of 75%. Launched to the whole of the market on a purchase and remortgage basis, the products have a fixed fee of £1,995 (which can be added to the loan) and are available for Housing in Multiple Occupation (HMOs) and Multi Unit Blocks (MUBs). Landlords using Special Purpose Vehicles (SPVs) and limited companies are also eligible.
Vida’s new fixed fee BTL specials are priced at 3.24% fixed for 2 years and 3.49% fixed for 5 years for its core BTL range and at 3.39% fixed for 2 years and 3.74% fixed for 5 years for its HMOs/MUBs offering.
This latest enhancement to Vida’s BTL product range follows its recent launch of new limited edition 85% LTV residential 2 and 5 year fixed rates from 4.09% as the lender continues to improve its combination of competitive rates and flexible criteria across its entire proposition.
Richard Tugwell, Director of Mortgage Distribution at Vida, commented:“Although the residential purchase sector is getting the national media headlines right now, a thriving private rental sector is just as important to the recovery of the UK housing market. Many landlords have experienced issues with rental yield during the Covid-19 pandemic or are investing in specialist property types such as HMOs and MUBs, so they will need the support of expert lenders like Vida who can help them with their more complex requirements. Landlords have an ideal opportunity to extend their BTL portfolios through capital raising and we are confident that our new limited edition fixed fee special is an ideal solution for those looking for greater flexibility up to 75% LTV.”