Vida Homeloans has revamped its ‘fee saver’ residential mortgage range and introduced a 1% fee (minimum £495) for buy-to-let mortgages on its Vida 1 tier up to a maximum loan size of £125,000, replacing the previous fixed fee of £1,995.
Properties up to £500,000 now qualify for a free valuation and a reduced £49 assessment fee. There are no product fees and standard legals are free on remortgages across the entire fee saver range.
Louisa Sedgwick, director of sales – mortgages at Vida Homeloans, said: “We are always listening to feedback from mortgage intermediaries here at Vida Homeloans and constantly look for new ways to ensure our products suit borrowers who are currently not well-served by high street lenders.
“These changes to our ‘Fee Saver’ residential product and specialist buy-to-let range show our continuing appetite to grow our specialist mortgage lending.”
These changes follow a series of new product launches and updates from Vida, including the recent introduction of their helping hand mortgage, the joint borrower sole proprietor mortgage from a specialist lender.