Vida has cut rates on its BTL products by up to 51bps, as part of an enhancement of its product range.
The minimum loan size available for limited edition products has been reduced from £200,000 to £150,000 to broaden access to more clients.
Additionally, Vida has temporarily increased the maximum allowable size for HMOs and MUFBs.
These have increased from six to eight bedrooms and units, respectively.
These changes apply to properties held on a single freehold title, with valuation thresholds remaining unchanged.
The firm has also made rate reductions on its residential mortgage rate, and refined its interest coverage ratio (ICR) criteria.
With the latter this means a new blended ICR of 135% introduced for applications involving both basic and higher rate taxpayers, a reduction of 5% from Vida’s current approach.
Additionally, higher rate taxpayer ICR has increased from 140% to 145%.
The basic rate and SPV ICRs remain unchanged at 125%.
“These enhancements reflect our ongoing commitment to evolving with the market and supporting brokers with products that meet the real-world needs of their clients,” said Ross Williams, head of product management at Vida.
“Whether it’s sharper pricing, broader criteria, or improved affordability, we’re focused on helping intermediaries deliver better outcomes.”
