Vida Homeloans has announced a new fixed rate buy-to-let mortgage.

Available at up to 80% LTV, the five-year fix is set at 4.34% for both purchase and remortgage and has a maximum loan size of £750,000.

The BTL mortgage has a fixed fee of £3,750 and comes with a free valuation for properties with a value of up to £1m.

Vida director of mortgage distribution Richard Tugwell, who joined Vida late last month, comments: “Covid-19 has impacted the financial circumstances of millions of people across the UK, and landlords are no exception.

“Many have experienced issues with rental yield or are investing in more specialist property types, so they will need the support of expert lenders.

“A thriving rental sector is key to the recovery of the UK housing market, and with a strong growth trajectory expected in the remortgage BTL sector this year, landlords have a good opportunity to focus on capital raising to extend their BTL portfolios.”