Vida ups maximum BTL loan to £1m

Jake Carter

June 7, 2021

rental yields btl

Vida has extended its maximum loan size from £750,000 to £1m for its limited edition buy-to-let (BTL) range.

The four products included within the range have a fixed fee of £1,995.

The lender has also reduced rates across its standard BTL portfolio range.

For products at 75% loan-to-value (LTV), rates start at 2.94% when fixed over 2 years, and 3.29% over the 5-year fixed rate products.

The 70% LTV product is 3.19% for a 5-year fixed rate.

Vida is also launching two products on its Vida 1 residential range up to 70% LTV, with rates of 2.99% on a 2-year fixed deal and 3.29 fixed for 5 years.

Loans start at £750,000, with a maximum loan of £1.5m.

Richard Tugwell, director of mortgage distribution at Vida, said: “These changes demonstrate our commitment to both the specialist residential and buy-to-let sector.

“We understand that many landlords have experienced issues with fluctuating income during the COVID-19 pandemic.

“These latest product changes are aimed at supporting them in achieving their portfolio growth and the latest step in our commitment to evolving our offering to open up new opportunities for intermediaries and reinforce our commitment to helping borrowers who are underserved and undervalued by high-street lenders.”

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