Vida Homeloans originates £1 billion in applications in first year

Vida Screen Background - with straplineIt’s been exactly one year since Vida Homeloans launched its specialist Residential and Buy to Let mortgage proposition to the UK market with a limited number of distribution partners, followed by a rapid roll out to the market from January 2017.  Since then it has attracted £2 billion in DIPs and £1 billion in applications and grown to a workforce of 140 people, based in Staines-upon-Thames, London Bridge and Skipton.

Vida has developed a wide range of criteria-driven mortgage solutions for the intermediary market by focussing on customers that are currently underserved by mainstream UK lenders. The Residential range includes specific products aimed at the self-employed, contractors, customers with short work histories, ‘buy together’ for 4 applicants and those who want to borrow in or into retirement. On the Buy to Let range, Vida will accept applications from individuals, limited companies and trading partnerships. The criteria will also allow portfolio landlords, houses in multiple occupation, UK expats investing in the UK and a rental top up option that allows surplus earned income to be used in the rental calculation.

Guy Batchelor, Sales & Marketing Director comments: “I just want to say a really big thank you to all the clubs, networks, packagers and brokers who have supported us during our first 12 months. With their help, we’ve come a long way in a year, building solid foundations as a specialist intermediary-only mortgage lender for customers who find it difficult to get a mortgage on the high street. We look forward to expanding our distribution and product range to benefit intermediaries and their customers in 2018.”

Jeremy Duncombe, Director, Legal & General Mortgage Club adds: “Vida has delivered an innovative proposition since coming to the market just a year ago.  Its product range covers the key niches of the specialist mortgage sector in a simple and effective way, utilising a technology platform which