Vida Homeloans has made mortgage rate reductions across its residential and buy-to-let (BTL) products, alongside launching limited-edition and fee-saver options.
The mortgage rate cuts include reductions of up to 0.3% across select residential product transfer deals, and up to 0.1% on its BTL product transfers.
Ross Williams, head of mortgage product management at Vida Homeloans, said: “We’ve seen swap rates in the market drop over the course of January. We always endeavour to pass these savings on to our potential customers through rate reductions across our ranges.”
Vida Homeloans has also released limited-edition BTL products on its Vida 36 credit tier. These products are available on a five-year fixed rate at 75% loan to value (LTV), with a 7% product fee. It is available for standard, houses in multiple occupation (HMOs) and multi-unit block (MUB) purchases.
Additionally, the lender has launched fee-saver products at 90% LTV for residential borrowers, across all credit tiers. These are available on either a two- or five-year fixed term.
Helen Cawthra, head of intermediary relationships at Vida Homeloans, said: “Vida’s newest, high-LTV products are further assisting customers with affordability, with the aim of helping more people to finally find a place to call home.
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“Especially those wanting to purchase their first home or move on from rented accommodation to become first-time buyers.”
Aldermore cuts mortgage rates
Aldermore has reduced pricing across its BTL and residential products for new and existing borrowers.
For new residential borrowers, all two- and five-year fixes up to 80% LTV have been lowered by 0.2%, and rates start from 5.24%. Corresponding three-year fixes have been cut by 0.15% to start at 5.64%.
For new BTL borrowers, two-year fixed rates up to 75% LTV have been cut by 0.4% and start from 4.69%, while five-year fixes have been lowered by 0.3% and start from 4.59%.
Meanwhile, its limited-edition five-year fixed rates up to 75% LTV have been cut by 0.25%, with rates beginning at 4.74% with zero, 1.5% and 5% fee options.
For multi-property borrowing to individual and company landlords with residential investment properties, two-year fixed rates up to 75% LTV have gone down by 0.4% and start at 4.74%, and five-year fixed rates have dropped by 0.3% to start at 4.54%.
Also up to 75% LTV, limited-edition five-year fixed rates with zero, 1.5%, 5% and £1,999 fee options have been cut by 0.25% to start at 4.69%.
For HMO and multi-unit freehold properties, two-year fixed rates up to 75% LTV now start from 4.94% after a 0.4% reduction and five-year fixes start at 4.74% after being cut by 0.3%.
For existing residential borrowers, all fixed rates up to 80% LTV have been reduced by as much as 0.2% and start from 5.44%.
Aldermore has lowered existing borrower BTL rates for individual and company landlords with a single property. This includes two-year fixed rate limited-edition options up to 70% LTV, which have gone down by 0.3% to 6.19%. Up to 85% LTV, two-year fixed rates have been cut by 0.4% to start at 6.19%.
For BTL borrowers with large HMO and multi-unit freehold properties, two-year fixed rates up to 80% LTV now begin at 7.89% after a 0.4% cut and five-year fixes start from 7.69% following a 0.3% reduction.
Jon Cooper, director of mortgages at Aldermore, said: “My message to brokers is simple; don’t wait and act now to secure lower rates for your clients. Aldermore also offers industry-leading low fees, with real experts on hand to offer intelligent solutions.
“We have compelling deals ready for you, whether your client is a landlord, a first-time buyer or someone moving home, so give us a call today.”
