Vida has added a limited edition remortgage-only five-year fixed rate at 3.29% on its Vida 1 buy-to-let range, up to a maximum LTV of 75%.
The deal has a 1.5% fee (which can be added to the loan) and is available on Vida’s core buy-to-let criteria such as flats over commercial premises. Landlords using Special Purpose Vehicles (SPVs) are also eligible.
This follows Vida’s recent launch of a new range of £1,995 fixed fee buy-to-let products for purchase and remortgage, including its two-year buy-to-let fixed rate of 3.24% to 75% LTV (available for HMOs and MUBs from 3.39%) and its five-year buy-to-let fixed rate of 3.49% to 75% LTV (available for HMOs and MUBs from 3.74%).
Richard Tugwell, director of mortgage distribution at Vida, said: “Buy-to-let is a real focus for us right now. Many landlords who have experienced issues with fluctuating income during the Covid-19 pandemic are investing in specialist property types such as flats above commercial premises. And that’s when they need the support of specialist lenders like Vida who can help them with their more complex requirements.
Our new 3.29% five-year fixed rate remortgage product, available up to 75% LTV, gives landlords more flexibility and choice if they are looking to reduce their monthly mortgage payments or extend their buy-to-let portfolios through capital raising.”
