West One and Vida relaunch fixed rate residential products

West One Loans and Vida Homeloans have announced the launch of fixed rate products to their mortgage ranges.

West One Loans has launched a range of residential five-year fixed rates starting at 6.95%. The new additions complement West One’s range of residential tracker products, which it launched as part of its entry into the residential market earlier this month. Aimed at borrowers who are underserved by high street lenders, the range is open to first-time buyers, home movers and remortgage customers.

Vida has launched a range of residential and buy-to-let fixed rate products following on from the recent relaunch of variable products.

The residential range is available for both first-time buyers and home movers as well as remortgages, including capital raising for debt consolidation. With maximum loan sizes of up to £2,000,000, rates start at 8.09% for a two-year and 7.69% across a five-year term. LTV options are 75% and 85% and are available across all adverse tiers.

The buy-to-let range includes products for both amateur and professional landlords, those wanting to purchase or remortgage HMOs and MUBs, and expats in a wide range of countries across the world. Two and five-year fixed rates start at 7.49%, with LTVs up to 80% and 75% for expats.

Marie Grundy, managing director of residential mortgages at West One, commented: “We have been delighted with the launch of our first residential range of mortgages and it is great to introduce valuable new additions so soon after our entry into the market.

“We launched during a challenging period but the reception we have had from our distributors and brokers has been fantastic.

“This new range of limited edition five-year fixed rates is the next step in the evolution of our proposition and, with rates starting at 6.95%, we are confident they will be warmly received by the market.

“We have ambitions to become the leading provider of residential mortgages for individuals underserved by mainstream lenders, so we will continue to work closely with our distribution partners to ensure we offer exactly what brokers and borrowers are looking for.”