Two new products introduced by Vida

November 12, 2023 by Heidi

Mortgage Advisors

The mortgage lender Vida has announced that it is adding a further two products to its slate of mortgages, with both of these new loans being fixed rate deals that are available immediately.

This lender offers specialist mortgage loans; the first of its new deals is a fixed rate seven-year residential product that comes with a maximum loan-to-value (LTV) of 90%. The starting rate for this particular product has been set at 7.49%, if the borrower opts for the £995 fee version. If they choose the version that comes without that fee, the starting rate is 7.69%.

Outside of the standard fee, there are no additional costs with this product; meaning no property valuation charge, assessment or product fees. The top sum that people are able to borrow for this mortgage is £600,000, and it has been made available via Vida 36.

The second new product introduced by Vida is a buy-to-let fixed rate two-year mortgage. Maximum LTV for this loan is 65% and the starting rate stands at 6.65%. It comes with a fee fixed at 2%, and the lender has indicated that it is only available on a limited-edition basis.

Vida has also stated that its service pledge will apply to both of these new products. That allows mortgage advisors to get the application administration charge they have to pay as part of the process refunded if they are dissatisfied with the service.

Advisors with CeMAP training will always welcome more mortgage products hitting the market to increase choice.