Vida launches pair of BTL products

Jake Carter

May 17, 2021

rental yields btl

Vida has launched a pair of fixed rate buy-to-let (BTL) products available for HMOs and MUBs.

It has added limited edition 2-year and 5-year fixed rates to its Vida 1 BTL range up to a maximum loan-to-value (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.

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.

Richard Tugwell, director of mortgage distribution at Vida, said: “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.”

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