Vida Homeloans is cutting mortgage rates by up to 0.30%

This means cheaper deals for those looking to buy a home or expand their property portfolio. The cuts apply to both residential and buy-to-let (BTL) mortgages, with most residential products seeing reductions of up to 0.20%.

Here’s what you need to know:

• Residential mortgages: Rates slashed by up to 0.20%
• Buy-to-let mortgages: Rates lowered by up to 0.30%
• Product transfers: Existing customers can also benefit with reductions of up to 0.25% on selected products.

Best Deals on Offer:

• First-time buyers can now snag a five-year fixed-rate mortgage at just 6.04% with a 75% loan-to-value.
• Landlords can secure a limited edition BTL deal at a competitive 4.29% with a 6% fee, also at 75% LTV.

Why the cuts?

Vida says the reductions are possible due to falling funding costs in the market. This comes as welcome news as some other lenders, including Coventry for intermediaries, Co-operative bank for intermediaries, Molo, and LiveMore, are withdrawing products or increasing rates due to uncertainty over potential Bank of England rate hikes.

Helen Cawthra, Head of Intermediary Relationships at Vida, expressed the company’s delight in passing on these savings to their customers. So, if you’re thinking about buying a home or expanding your rental portfolio, now might be the perfect time to explore the new rates offered by Vida Homeloans!