Why Fee Saver Range?

Many mortgages come with arrangement & valuation fees. Lenders charge these fees to set up the mortgage on the borrower’s behalf and of course to value the property the customer is looking to remortgage. Low interest rates mean that remortgaging to raise capital is an attractive idea, but high arrangement & valuation fees, in addition to legal costs, can put borrowers off. That’s why Vida Homeloans Fee Saver range includes a free valuation, has no product fee and covers standard legal fees for remortgages to avoid high up-front costs.

Who is this product for?

  • Customers who do not have the funds available to cover the upfront costs usually associated with a remortgage.
  • Customer moving home who would rather use savings to go towards essential expenses on the property
  • Vida will cover those additional fees associated with the cost of remortgaging or moving including:
    • £0 product fee
    • One free standard valuation & refund of £49 assessment fee for properties up to £500,000
    • For remortgage, the cost for standard legal/conveyancing work

Key Lending Criteria

  • Available across all residential products
  • For properties up to £500,000, one free standard valuation and refund of reduced £49 assessment fee paid within 30 days of completion
  • For properties above £500,000, the standard valuation and assessment fee is payable on application, but is refunded (up to a maximum of £650) within 30 days of completion
  • For remortgages, Vida will cover the costs for a standard legal/conveyancing work using our nominated firm of solicitors
  • Additional legal work which is not part of standard conveyancing will be payable by your customer directly to the lender-nominated firm, who will provide a quotation for any extra work before it is carried out