Specialist lending firm Vida has just announced substantial rate reductions across its range of fixed-rate mortgage products.

Vida has made a cut in its residential mortgage rates, reducing them by up to 1.05%. The revised rates include:

• Vida 36 Standard 2-Year Fixed Rate: Now at a more affordable 6.49%.
• Vida 36 Standard 5-Year Fixed Rate: Down to 6.14%.
• Vida 36 Fee Saver 5-Year Fixed Rate: Set at a competitive 6.34%.

All these rates are based on a 75% loan-to-value (LTV) ratio, making them more accessible for a broader range of customers.

Better Deals in the Buy-to-Let Sector

The buy-to-let sector hasn’t been left behind. Vida’s rate reductions here are also important, with cuts of up to 0.80%. Key updates include:

• Vida 36 Standard 5-Year Fixed Rate: Now at an attractive 5.04% at 75% LTV.
• Vida 36 Standard Limited Edition 2-Year Fixed Rate: Priced at 6.00% at 65% LTV and 6.20% at 75% LTV, catering to individual units, Houses in Multiple Occupation (HMOs), and Multi-Unit Blocks (MUBs).

Vida’s commitment to customer satisfaction extends to its retention product range, where rates have been reduced by up to 0.75%. This is a clear indication of Vida’s dedication to providing competitive options for its customers.

Underpinning these changes is the Vida Service Pledge. This pledge is a commitment to high service standards for brokers, emphasizing customer satisfaction. Notably, Vida promises a refund of the £180 application admin fee if the service falls short of expectations.

Helen Cawthra, the head of intermediary relationships at Vida, expressed optimism about the market. She stated, “As we start the year with growing confidence in the market and swap rates improving, we’re pleased to share the latest reductions to our fixed-rate product range, helping both new and existing customers.”