Vida has cut rates across its residential and buy-to-let (BTL) product range by up to 0.35% and 0.30% respectively. In the residential range, highlights include the Vida 36 two-year product, which is fixed at 6.99% and the five-year product sits at 6.64%, both at 75% LTV. Across the BTL range, the lowest Vida 36 initial rate is a five-year fix at 5.39% at 75% LTV with a 4% fee. Alongside the rate reductions in the BTL range, two-year fixed limited-edition products at 65% LTV are available at 6.35%. Two-year fixed limited editions have also been introduced at 75% LTV with a rate of 6.50%. These come with a 2% fee and have the same price point for individual units, HMOs or MUBs.

Clever Lending has announced that it has recently helped a business customer who needed to refinance a semi-commercial property. The client required the refinancing to remortgage away from their existing, expensive variable rate deal with the term lender. It also wanted to raise capital to repay a private loan with a family member of the company directors. Commercial and bridging specialist at Clever Lending, placed the case with Hampshire Trust Bank as it not only offered the “best rate on the market” but also specialises on complex semi-commercial cases. The refinancing was at 57% LTV with the £1.02m semi-commercial loan provided at 7.39%, fixed at five years.

Just Mortgages has announced its busiest December for new inductions into its self-employed division, as it approaches 500 brokers. For the first time, the firm is holding three induction sessions in December, one in the North and two in the South, after onboarding more than 30 new brokers in one month. It follows on from the best quarter of the year for new applications and Just Mortgages averaging around 20 new applications in both October and November. The firm said that its applicants including existing self-employed brokers, as well as those from more corporate organisations looking for greater freedom. Employed brokers also continue to apply as they look to benefit from the opportunity to run their own business.

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