Vida cuts residential and buy-to-let rates by up to 0.50%

Vida has announced rate reductions of up to 0.45% across its residential mortgage range and up to 0.50% on its buy-to-let products.

In addition, Vida has launched new limited edition buy-to-let products at 65% LTV, available with both two and five-year fixed terms. 

These new offerings come with a 4% fee and rates starting from 3.52%.

Ross Williams, head of mortgage product management at Vida Homeloans, commented: "With swap rates dropping and the base rate reduction to 4.25%, we’re in a position to lower the majority of our rates and pass these savings on directly to borrowers."

Last month, Vida announced the integration of an automated valuation model (AVM) into its mortgage application process.

In collaboration with Rightmove, Vida has invested in valuation technology to improve the efficiency of its residential and buy-to-let application processes and deliver faster decisions for brokers and their clients.