Specialist lender Vida has launched a flexible mortgage product designed for potential buy-to-let investors including professional and first-time landlords.
Vida Flex offers landlords the option to fix their mortgage for five years, but with the flexibility to leave fee-free after three.
It is available up to 75% loan-to-value and rates on the product start from 3.84%.
Louisa Sedgwick (pictured), managing director of mortgages at Vida, said: “At Vida, changing mortgages for good is more than just a concept – it’s something we really do plan to deliver on. The launch of Vida Flex is the first step in that journey to creating a new proposition and is a product designed for today’s mortgage market, offering flexibility for landlords that play a vital role housing millions of families across the UK.
“We feel overwhelmed with the incredible response from advisers that we’ve had since our return to lending. Vida’s new plans are all about being the lender for Britain’s underserved borrowers and helping more people find a safe place to call home. But hearing the team responding to new enquiries from advisers about real-life customer cases has reinforced the important role we can play for customers to make their housing plans a reality.
“This positive impact we can have on so many lives continues to spur our ambitions at Vida, and we look forward to working in partnership with advisers to build a new proposition that can really support borrowers in today’s mortgage market.”