Are you a landlord looking for a better deal on your buy-to-let mortgage? Or maybe you’re a first-time buyer struggling to get on the property ladder? Vida, a leading mortgage lender, has just slashed interest rates on a range of its buy-to-let and residential products, making it easier than ever to secure your dream home or build your property portfolio.

Vida has made some serious cuts to its buy-to-let mortgages, with the biggest reductions going to landlords with HMOs (houses in multiple occupation), MUBs (multi-unit blocks), and expats. They’ve also lowered rates on fee-saving products and those with a 4% fee.

This good news applies to both first-time landlords and those with experience, and you can choose between individual landlord applications or Limited Company SPVs (Special Purpose Vehicles). Vida is known for its flexible approach to lending, and this is reflected in their buy-to-let criteria. They don’t require a minimum income, are happy to consider specialist properties like flats above or next to commercial spaces, and offer a generous interest cover ratio of 125% for basic rate taxpayers and SPVs and 140% for higher rate taxpayers.

Residential Rate Reductions Too

But that’s not all! Vida has also reduced interest rates on its residential mortgages, focusing on 5-year products, particularly those for borrowers with less than perfect credit histories. They’ve also lowered rates on their 2-year Right to Buy products.

Vida is committed to making homeownership a reality for everyone, and that’s why they’ve adopted some very flexible criteria. They’ll consider borrowers up to 80 years old at the end of their mortgage term, with a term of up to 45 years to make things more affordable. They’re also open to borrowers with adverse credit, those with second jobs, contractors, those with complex incomes, and even the self-employed.

Helen Cawthra, Head of Intermediary Relationships at Vida, said: “These new rate reductions in BTL and Residential will help our partners to help more of their customers to secure their specialist mortgage at a lower rate alongside the stability of a five-year fix.”