Vida enhances limited edition buy-to-let range

Vida has enhanced its range of limited edition buy-to-let products across individual units and HMO/MUB properties.

The two products have lower initial rates and higher product fees to provide the option for borrowers to maximise loan size and affordability. Available on the Vida 36 tier, five-year fixed rates at 75% LTV come with a 6% fee.

The individual buy-to-let product has a rate of 4.84% with the HMO/MUB product at 5.04%.

Considered for first-time through to experienced portfolio landlords, the products are suitable for both individual landlords and limited company SPVs.

Vida’s buy-to-let criteria includes no minimum income, specialist properties such as flats above/adjacent commercial, and an Interest Cover Ratio (ICR) of 125% for basic rate taxpayers and SPVs and 140% for higher rate taxpayers.

Helen Cawthra, head of intermediary relationships at Vida, said: “As a lending specialist, we continually seek ways to support our intermediary partners. These new limited editions will allow a variety of landlords to access products with a lower rate that suits their specialist requirements, with the stability of a five-year fix.

"Intermediaries can contact the V-Hub to speak with us about their buy-to-let cases. There, they can speak with experts and underwriters directly and be confident in our efficient service levels coupled with dedicated intermediary support.”