The distribution model will see the firm “invest further in the mortgage experience and strategic support it delivers to clubs, networks, packagers and firms”.
All parts of the mortgage experience have been moved into “one expanded team” and will report to Vida Homeloans’ chief operating officer, Tommy Wright.
Vicky Birkby will become the director of strategy and partnerships, expanding on her current role of spearheading the lender’s mortgage strategy and growth plans.
Deb Smith, Vida Homeloans’ chief of mortgage operations, will still lead and strengthen the lenders’ decisioning excellence team.
Helen Cawthra, head of intermediary relationships, is departing the firm to take on a new role in the industry. She has worked at Vida Homeloans for around three years, initially joining as corporate sales manager.
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Anth Mooney (pictured), Vida Homeloans’ CEO, said: “The banking licence authorisation was just the start of our journey to become the UK’s most trusted specialist mortgage bank. Our new distribution model further enhances the Vida experience for all our partners, and we are committed to investing in delivering exceptional service and proposition development.”
Vida received its full banking licence in November last year, allowing it to offer retail deposits, enhancing its funding base and meaning it could “compete at a far greater scale”.
The firm said it would be seeking its banking licence from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) in 2022.
Its latest financial results show that Belmont Green delivered £190m in gross mortgage lending in 2023.
Vida combined its relationship and decision-making teams into one “centralised decisioning unit” called V-Hub in 2022, following a strategic review of the business.
