Vida Homeloans has announced it is reducing rates across its residential and buy-to-let (BTL) ranges by up to 1.35%.

The specialist lender confirmed that its residential variable rate products are now available up to 80% LTV and includes a two-year variable mortgage at 70% LTV offering a rate of 6.29%.

Fixed rates have been reduced by as much as 0.70% with the lender’s lowest ‘Vida 48’ rate being 70% LTV with a five-year fixed at 6.39%.

Vida also confirmed that for its BTL offering, variable rates have been cut by as much as 1.35%. The lowest rate available is the Vida 48, 80% two-year variable at 5.49%. The lender has also cut product fees which have been halved from 2% to 1% on its BTL two-year fixed rate products.

Commenting on the changes, head of intermediary relationships at Vida, Helen Cawthra, commented: “Last week, we launched our new centralised decisioning unit, V-Hub, which gives intermediaries direct access to dedicated underwriters who will help them with every type of query from pre application through to complex case management and completions.

“This week, we are further strengthening our proposition with reductions across our entire product range, giving brokers attractive options to discuss with their clients.”

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