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July 31.2025

2 Minutes Read

Vida Upgrades Buy-to-Let and Residential Mortgage Products for 2024

Professional young man promoting Vida BTL and residential product upgrades.

Vida Enhancements Aim to Support Landlords and Homebuyers

In a strategic move geared towards better supporting landlords and homeowners, Vida has confirmed a series of upgrades across its buy-to-let (BTL) and residential mortgage product ranges. The lender, known for its specialized services, has reduced many BTL rates by up to 0.51%, a welcomed change in a market increasingly competitive for property investors.

Streamlined Access for Borrowers

A key feature of Vida's update is the reduction of the minimum loan size for selected Limited Edition BTL products from £200,000 to £150,000. This change is expected to broaden access for prospective clients, making it easier for newer investors to enter the market. Furthermore, Vida has refined its Interest Coverage Ratio (ICR) criteria to better reflect borrowers' tax statuses. This includes a new blended ICR of 135% for applications from both basic and higher rate taxpayers, down from 140%.

Increased Flexibility for Housing Developments

To enhance its offering, Vida has temporarily lifted the maximum allowable size for Houses in Multiple Occupation (HMOs) and Multi-Unit Buildings (MUBs) from 6 to 8 bedrooms and units, respectively. This flexibility encourages more robust investment opportunities in residential properties.

Residential Rates to Foster Homeownership

In addition to BTL revisions, Vida has also repriced its residential mortgage options, with reductions of up to 0.54%. This is in tandem with an updated Residential Affordability Calculator, which features a lower two-year stress rate, ultimately making homeownership more accessible for a wider range of clients.

Vida's Commitment to Market Adaptation

As Ross Williams, head of product management at Vida, remarked, “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.” As financial institutions take note of these changes, they may find valuable insights in how to adapt to their offerings responsibly in light of shifting market dynamics.

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Vida Upgrades Buy-to-Let and Residential Mortgage Products for 2024

Vida Enhancements Aim to Support Landlords and Homebuyers

Streamlined Access for Borrowers

Increased Flexibility for Housing Developments

Residential Rates to Foster Homeownership

Vida's Commitment to Market Adaptation

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