Vida cuts rates and enhances criteria across residential and buy-to-let

Vida has announced a series of enhancements across its residential and buy-to-let product ranges.

Across its buy-to-let range, the lender has announced rate reductions of up to 0.51% across new business products.

The minimum loan size for selected limited edition buy-to-let products has been reduced from £200,000 to £150,000, broadening access to more clients.

Vida has also refined its interest coverage ratio (ICR) criteria to better reflect borrower tax status.

A new blended ICR of 135% has been introduced for applications involving both basic and higher rate taxpayers, a reduction of 5%.

The higher rate taxpayer ICR has increased from 140% to 145% and basic rate and SPV ICRs remain unchanged at 125%.

In a 'summer special' offer, Vida has temporarily increased the maximum allowable size for HMOs from 6 to 8 bedrooms and MUBs from 6 to 8 units. These changes apply to properties held on a single freehold title, with valuation thresholds remaining unchanged.

Vida has also repriced its residential range, with reductions of up to 0.54%.

In addition, the lender has updated its residential affordability calculator, including a further reduction in the two-year stress rate.
 
Ross Williams, head of product management at Vida, commented: “These enhancements reflect our ongoing commitment to evolving with the market and supporting brokers with products that meet the real-world needs of their clients. Whether it’s sharper pricing, broader criteria, or improved affordability, we’re focused on helping intermediaries deliver better outcomes.”