Lender Vida Homeloans has now reduced its five-year fixed rate buy-to-let products by up to 0.75%. This is to attract more BLT business.
The cuts by Vida, which is now offering its lowest ever rates on Vida 1 criteria, apply to HMOs, multi-unit blocks, limited companies, loans above £1m, and first-time buyers, including first-time landlords.
Vida Homeloans expat five-year buy-to-let rates have also been cut and are available for customers located in more than 190 countries.
Vida’s 1% fee applies on all these new rates.
Vida Homeloans director of sales – Mortgages Louisa Sedgwick commented: “Vida Homeloans is always keen to offer the best value to both residential and buy-to-let customers, and that commitment is shown with this change to our five-year fixed rate buy-to-let product.
“Our aim at Vida is to allow mortgage brokers to secure the best deal for their landlord clients. The fact that specialist niches such as limited companies, HMOs and expats are included makes them even more appealing, and we are confident that we will see a positive response from brokers.”
Vida Homeloans is trying to increase its market share of the landlord mortgages on offer and the attractive rates will help.