Vida Homeloans has announced it is introducing limited edition 85% LTV two and five-year fixed rates to its Vida 1 residential range.

The specialist mortgage lender confirmed its rates are 4.09% on a two-year fixed deal and 4.24% on a five-year fix, with a maximum loan size of £500,000, available for purchase and remortgage.

Vida is also launching new fee saver products on its Vida 1 residential range up to 70% LTV, with rates of 3.59% on a two-year fixed deal and 3.74% fixed for five years, available on both a purchase and remortgage basis.

These fee saver products will have no product fee and a £49 assessment fee, with a maximum loan size of £350,000 and a free valuation for all properties up to the value of £500,000.

Customers will also be entitled to £200 refunded upon completion to contribute towards legal costs, meaning homeowners can benefit further from reduced home purchasing costs.

“Although there are reasons for optimism, the COVID-19 pandemic has had a huge impact on the financial circumstances of millions of people across the UK,” commented Vida director of mortgage distribution, Richard Tugwell.

“The long-term implications of the crisis mean there is a new generation of borrowers with impaired access to credit who will need the support of specialist lenders to help them despite their complex situations.

“We’re committed to continually enhancing our offering to provide these borrowers with greater choice and flexibility and to help them find a safe place to call home.”

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