Vida has increased its product transfer procuration fee for brokers to 0.50%.

The lender says the move recognises the important role brokers play in supporting customers and complements its market-leading 0.70% procuration fee on new business.

Vida also offers an additional £250 customer cashback across its mortgage range.

For products where cashback is already available, customers will receive an additional £250 on top of the existing amount. This limited-time offer is available until 17 December.

Both initiatives are being supported by Vida’s new ‘Break the Habit’ campaign, which encourages brokers to revisit established lender preferences and take a fresh look at Vida.

Vida managing director, strategy and partnership Vicky Birkby says: “Brokers play a vital role throughout the mortgage journey and specialist lending often requires advisers to go the extra mile. From helping customers with complex circumstances find the right solution to supporting existing borrowers when their current deal comes to an end, their expertise and commitment make a real difference.

“That’s why we’re increasing our Product Transfer procuration fee to 0.50%, alongside our market-leading 0.70% procuration fee on new business. Together, these fees recognise the expertise, time and value advisers bring to supporting both new and existing Vida customers.”

Last week, raised LTVs to 90% on purchase at undervalue cases.