Specialist lender Vida Homeloans has reduced rates across its entire product range, improved its buy-to-let (BTL) criteria and streamlined its application process.
The lender, which recently gained its banking licence, has lowered its residential product rates by up to 0.15% and BTL rates by as much as 0.26%.
Its product transfer rates for residential and BTL borrowers have also been cut by up to 0.2%.
In a change to its BTL affordability criteria, Vida Homeloans will stress applicants at pay rate where there is no additional borrowing. Its interest coverage ratio (ICR) will remain the same.
To streamline applications, the lender will now allow digital signatures on documents that require certification.
Vida Homeloans said this would make the application process quicker and easier for borrowers.
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Intermediaries can contact the V-Hub to discuss any case or criteria, where they will have direct access to specialist experts and underwriters.
Last month, the lender increased the maximum loan size for BTL mortgages and launched limited-edition products.
