Saturday, May 28, 2022

Vida Homeloans cuts residential purchase, remortgage rates


Across its Vida 1 range, the 80 per cent LTV five-year fix has received the biggest cut, being reduced from 4.89 per cent to 3.94 per cent

Vida Homeloans has made cuts across its residential purchase and remortgage range by up to 95 basis points.

Across the specialist lender’s Vida 1 range, the 80 per cent loan to value (LTV) five-year fix has received the biggest cut, being reduced from 4.89 per cent to 3.94 per cent.

At 75 per cent LTV, a 74 basis point reduction sees the two-year fix decline from 3.92 per cent to 3.18 per cent and the five-year deal receive a 65 basis point cut to go from 4.19 per cent to 3.54 per cent.

Meanwhile, the 70 per cent LTV two-year fix has been cut from 3.59 per cent to 3.13 per cent – a 46 basis point difference, and the 70 per cent LTV five-year fix has gone down by 50 basis points, from 3.99 per cent to 3.49 per cent.

Additionally, all Vida 2 products have been cut by up to 40 basis points and all products across the Vida 3 range, have had up to 25 basis points removed.

Vida director of mortgage distribution Richard Tugwell, who joined the firm earlier this week, says: A strong specialist lending sector that offers competitive rates and innovative solutions has never been more important and these rate cuts are just one step towards achieving this.

He said that Vida is wholly committed to making continuous refinements to its products and services, so that intermediaries and customers have access to the financial solutions they need to achieve home ownership. I am delighted to be joining such a forward-thinking lender as it gears up for growth.


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