Gross new mortgage lending reached £840m, which was 141% higher than in the first half of 2025.
The lender’s total mortgage book increased to £3bn, considerably higher than £1.8bn a year earlier.
The net interest margin improved to 2.34%, which Vida said reflected the benefits of balance sheet growth and its funding mix.
Net interest income for the six months ended 30 June 2026 was £30.5 million, compared with £20.4m for the six months ended 30 June 2025.
In the six months to 30 June 2026, Vida recorded 11 repossession sales, down from 12 at the end of 2025, resulting in a £500,000 impairment charge, up from £200,000 a year earlier and mainly linked to three previously provided-for accounts.
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BTL drives higher LTV lending
Loans above 70% loan-to-value (LTV) accounted for 65.2% of the portfolio, up from 42.5% a year earlier.
The largest increase was in the 70–80% LTV band, which rose from 31.0% of the book to 37.3%, representing £1.12bn of lending.
Lending between 80–90% LTV also increased significantly, growing from 9.7% to 20%, equivalent to £602m.
BTL lending accounted for most of the increase in higher-LTV exposure. BTL balances in the 70–80% LTV range more than doubled, rising from £459m to £974m, while BTL lending at 80–90% LTV rose from £83m to £293m.
As at 30 June 2026, 68% of the mortgage book comprised BTL lending and 32% comprised residential owner-occupied lending, compared with 69% and 31%, respectively, at 31 December 2025.
Within the BTL portfolio, 43% was attributable to professional landlords, unchanged from 31 December 2025.
Anthony Mooney, CEO at Vida Bank, said: “These results demonstrate much more than another period of strong growth. They show the continued transformation of Vida into a different kind of specialist mortgage bank.
“We have built significant scale, strengthened our funding model, and continued to improve the underlying economics of the business. Just as importantly, we have continued investing in the capabilities that we believe will define the future of specialist lending.
“Our ambition has never simply been to build a growing mortgage lender. It is to build the UK’s most intelligent specialist mortgage bank.”
