Vida has announced it has reduced the rates on its fixed rate residential and buy-to-let (BTL) ranges by up to 1.2%.

The specialist lender’s residential products will now be available at 80% loan to value (LTV), up from 75%.

Vida now has a five-year fixed rate with 70% LTV at a rate of 6.49%. A£995 product fee can be added to the loan above the maximum LTV at this tier, while variable products are also available.

Vida’s BTL range is available up to 80% LTV and this includes a five-year fixed term product at at 6.29%. A 2% product fee can be added to the loan above the maximum LTV, and Vida also confirmed that the fixed rate products are available for HMO/MUBs and expats, with variable products also available.

“In order to support customers more efficiently, Vida are able to provide a decision in principle (DIP) referral within 24 hours, an initial underwriter review in two working days and a valuation receipt in seven working days,” the lender stated.

“The products are now available on Vida’s broker portal and on sourcing systems.”

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