Vida introduces limited edition 85% LTV products

Jake Carter

May 6, 2021

launch products

Vida has introduced a number of limited edition products to its Vida 1 residential range.

The products include an 85% LTV 2-year fix at 4.09% and an 85% LTV 5-year fix at 4.24%.

Both include a maximum loan size of £500,000 and are available for purchase or remortgage.

The lender is also launching fee saver products up to 70% LTV, with rates of 3.59% on a 2-year fixed deal and 3.74% fixed for 5 years.

Available on both a purchase and remortgage basis, the fee saver products have no product fee and a £49 assessment fee, with a maximum loan size of £350,000 and a free valuation for all properties up to the value of £500,000.

Customers will also be entitled to £200 refunded upon completion to contribute towards legal costs.

Richard Tugwell, director of mortgage distribution at Vida, said: “Although there are reasons for optimism, the COVID-19 pandemic has had a huge impact on the financial circumstances of millions of people across the UK.

“The long-term implications of the crisis mean there is a new generation of borrowers with impaired access to credit who will need the support of specialist lenders to help them despite their complex situations.

“At Vida, we’re committed to continually enhancing our offering to provide these borrowers with greater choice and flexibility and to help them find a safe place to call home.

“Our new product launches today are another step in achieving this, and we’re confident that these offerings are a great solution to help borrowers who have smaller deposits or who find that the costs associated with home buying restrict their home ownership plans.”

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