Vida Homeloans has cut its buy-to-let fees on smaller buy-to-let loans to 1% in a bid to win more business from property investors.
The 1% fee (minimum £495) is available on the Vida 1 tier up to a maximum loan size of £125,000, replacing the previous fixed fee of £1,995.
Louisa Sedgwick, director of sales – mortgages at Vida Homeloans, said: “We are always listening to feedback from mortgage intermediaries here at Vida Homeloans and constantly look for new ways to ensure our products suit borrowers who are currently not well-served by high street lenders.”
The new lower buy-to-let fees form part of wider changes, including alterations to Vida’s Fee Saver residential mortgage range, with properties up to £500,000 now qualifying for a free valuation and a lower £49 assessment fee.
Sedgwick added: “These changes to our Fee Saver residential product and specialist BTL range show our continuing appetite to grow our specialist mortgage lending.”
Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.