Vida Homeloans, a specialist lender, has made a number of enhancements to its product ranges, including reductions to its Residential products by up to 0.30% and Buy-to-Let products by up to 0.54%.
They have also announced a refreshed Fee Saver range with new products across Residential and Buy-to-Let, available for standard, HMO/MUB, and Expat cases. Additionally, they have decreased the minimum loan size to £150k for Buy-to-Let Limited Editions, allowing landlord customers more options for lower-value properties.
Ross Williams, head of mortgage product management at Vida, comments: ‘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 has also expanded its list of accepted Scottish postcodes, now including 14 additional postal codes.
Meanwhile United Trust Bank mortgages has announced significant rate reductions across its Buy-to-Let mortgage product range with reductions of up to 176bps.
The specialist lender is particularly keen to attract more HMO, MUB and holiday let business with 5-year fixed rates for single dwelling AST products starting from just 4.99% and HMOs/MUBs from 5.29%.
Highlights include:
Standard (single dwellings on an AST)
• 2yr Fixed Rates from 5.69%
• 5yr Fixed Rates from 4.99%
Specialist (HMO and MUB up to 10 rooms/units)
• 2yr Fixed Rates from 5.69%
• 5yr Fixed Rates from 5.29%
Non-Standard (Holiday Lets)
• 2yr Fixed Rates from 5.89%
• 5yr Fixed Rates from 5.94%
UTB mortgage director Buster Tolfree says: “It has been a bumpy couple of years for landlords and BTL brokers with the sector having to deal with higher interest rates, tougher EPC requirements and uncertainty created by the Renters Rights Bill. However, in our experience landlords are a resilient bunch and with good quality rental property still in short supply, it’s a sector we’re committed to supporting for the long term. As a prominent lender in the specialist BTL space, we feel obliged to lead from the front.”
And Principality Building Society is implementing reductions across residential and Joint Borrower Sole Proprietor (JBSP) mortgages, with cuts of up to 0.29% on residential products and 0.35% on JBSP mortgages.
But selected rates will increase, including a 0.02% rise on some two-year fixed products.
And finally Roma Finance has launched RomaPRO, a buy-to-let product aimed at property investors and developers.
RomaPRO, suited for special purpose vehicles, offers loan sizes from £75,000 up to £2m. The product targets transitions from development projects, refinancing, or new acquisitions.
Key features of RomaPRO include commercial rates linked to the Bank of England base rate, top-slicing options, and suitability for HMOs, MUBs, holiday lets, and serviced accommodation.
Now available on Brickflow, a digital marketplace for property finance, this partnership allows brokers and borrowers to compare Roma’s offerings with other lenders.
The integration with Brickflow also enhances the process for brokers by simplifying funding proposals and opportunities to expand their services.
