Vida has introduced an 80% LTV five-year fixed fee special to its buy-to-let range at 4.34%.
Available to the whole of market on both a purchase and remortgage basis, the product has a fixed fee of £3,750, with a maximum loan size of £750,000 and a free valuation for all properties up to the value of £1m.
Vida’s fixed fee special is priced at 4.34% for its core buy-to-let product range and at 4.74% (also a five-year fixed rate) for its Housing in Multiple Occupation (HMOs) and Multi Unit Blocks (MUBs) offerings.
In addition, Vida has reduced the rate on its standard 80% LTV buy-to-let five-year fixed rate product to 4.34% and cut its 70% LTV rate by 10bps and its 75% LTV product by 15bps on a two-year deal.
Richard Tugwell, director of mortgage distribution at Vida, said: “Covid-19 has impacted the financial circumstances of millions of people across the UK, and landlords are no exception. Many have experienced issues with rental yield or are investing in more specialist property types, so they will need the support of expert lenders like Vida who can help them despite their more complex requirements.
“A thriving rental sector is key to the recovery of the UK housing market, and with a strong growth trajectory expected in the remortgage buy-to-let sector this year, landlords have a good opportunity to focus on capital raising to extend their buy-to-let portfolios. We’re confident that our fixed fee special is an ideal solution for landlords with several HMOs or MUBs, looking for greater choice and flexibility for larger loan sizes up to 80% LTV.”