Vida cuts rates by up to 0.35%
14 December 2023
• Residential and Buy to Let (BTL) rates reduced
• New BTL Limited Edition products available up to 75% loan to value (LTV)
Vida, the specialist lender, have announced they are making rate reductions across their product range.
Residential rates have been reduced by up to 0.35%. Product highlights include Vida 36 two-year fixed at 6.99% and five-year fixed at 6.64%, both at 75% LTV.
Across BTL, rates are reduced by as much as 0.30%. The lowest Vida 36 initial rate is a five-year fixed at 5.39% with a 4% fee, also at 75% LTV.
Alongside the rate reductions on their core BTL range, two-year fixed limited-edition products at 65% LTV are available at a rate of 6.35%.
Two-year fixed limited editions have also been introduced at 75% LTV with a rate of 6.50%. These come with a 2% fee and have the same price point for individual units, HMO or MUB.
Helen Cawthra, Head of Intermediary Relationships said:
‘There’s no denying that 2023 has been a difficult year for our industry. At Vida, we’ve continued to show that we’re listening to our intermediary partners and working closely to support borrowers with affordability at a time of increased cost of living and challenging economic circumstances. We’ve made a whole host of product and criteria enhancements and are pleased to end the year with even more rate reductions and two new limited-edition products.’
All Vida products are backed by the Vida Service Pledge, which allows brokers to request a refund of the £180 application admin fee if they feel they have received anything but excellent service.
More information can be found on their website.
LiveMore has launched a fee-assisted £500 cashback mortgage range.
Lending exclusively to borrowers over 50, the new “Fee Assisted Cashback” range is available on LiveMore’s 3 and 4 tiers across their portfolio of Retirement Interest-only (RIO), Standard Interest-Only and Standard Capital & Interest mortgage products. It is available to customers who borrow a minimum of £75,000.
The £500 cashback is payable to customers on completion of purchases and remortgages. The new range has no product fee, and includes free standard valuation fees on purchases and remortgages. Assisted legal fees are available on remortgages. As with all LiveMore products there is no application fee.
This new fee-assisted plus cashback range follows LiveMore’s rate reduction announcement last week, when the lender lowered rates across all its mortgage products by up to 0.29% in response to growing confidence in the housing market and to support more borrowers.
Tim Wellard, product manager at LiveMore, said: “The £500 cashback should help support people with adverse credit or who are looking to consolidate debt. Customers can use the cash to help with any broker fees, or simply to get back on track financially”.
