Vida has further strengthened its intermediary proposition by increasing its Product Transfer procuration fee to 0.50%, alongside its market-leading 0.70% procuration fee on new business.
The enhanced Product Transfer fee recognises the important role brokers play in supporting customers throughout the mortgage journey, while Vida’s 0.70% new business fee reflects the additional expertise, time and dedication brokers invest in supporting customers with more complex borrowing needs, helping more people secure a place to call home when they may otherwise have been overlooked or turned away by high street lenders.
Together, the enhanced procuration fees reflect Vida's commitment to professional mortgage advice and to rewarding brokers for the value they deliver in helping both new and existing customers achieve positive outcomes throughout the mortgage journey. Whether supporting borrowers with adverse credit, complex income streams, later life lending requirements or residency challenges, advisers often provide the expertise and advocacy needed to secure solutions that may not be available through mainstream lending routes.
The announcement forms part of a broader programme of proposition enhancements designed to make Vida an increasingly attractive option for specialist cases.
The lender is also continuing to offer an additional £250 customer cashback across its mortgage range, providing added value to customers at a time when household finances remain under pressure. Where cashback is already available, the payment is increased by a further £250. The additional cashback is available for a limited time, until 17th December.
Both initiatives are being supported by Vida's new "Break the Habit" campaign, which encourages brokers to review established lender preferences and take a fresh look at Vida as its products, criteria and service continue to evolve.
The campaign recognises that lender preferences are often formed over many years through experience, familiarity and proven outcomes. While these habits are understandable, Vida believes the best customer outcomes are achieved when every case is assessed on its own merits, with advisers remaining open to reconsidering lenders as propositions, criteria and service levels evolve.
Through the "Break the Habit" campaign, Vida is encouraging brokers to continually challenge convention, explore alternative options and ensure familiarity does not prevent them identifying the optimal outcome for their customers.
The launch forms part of Vida's continued commitment to supporting brokers in delivering great customer outcomes, combining enhanced procuration fees, additional customer value through cashback, the lender's Service Pledge and its specialist lending expertise.
Vicky Birkby, Managing Director, Strategy and Partnerships at Vida, said:
"Brokers play a vital role throughout the mortgage journey, with specialist lending often requiring advisers to go further, from helping customers with more complex circumstances find the right solution, to supporting existing customers when their current deal comes to an end."
"That’s why we’re increasing our Product Transfer procuration fee to 0.50%, alongside our market-leading 0.7% procuration fee on new business. Together they recognise the expertise, time and value advisers bring to both new and existing Vida customers."
"As the specialist market continues to evolve, we're encouraging brokers to break old habits and take another look at Vida. With continued investment in our criteria, products, Service Pledge, V-Hub support and additional £250 cashback offer, we believe there's never been a better time to do so."
