Vida, which initially came to market under the name of its parent company Belmont Green, launched through 12 packagers.
The buy-to-let and residential lender is targeting the self-employed, contractors, borrowers with short work histories and those with impaired and improving credit profiles. Vida Homeloans also offers a ‘Buy Together’ range of residential mortgages, which enables up to four applicants to purchase a home.
In buy to let, the lender provides products for limited companies, Houses in Multiple Occupation (HMO), first-time landlords and expats.
Vida was founded by a team including ex-Platform MD David Tweedy and ex-director of marketing and communications at Kensington, now Vida’s marketing director Ian Giles. Louisa Sedgwick was confirmed as director of sales, mortgages at Vida Homeloans, in August after leaving her post at Leeds Building Society where she was responsible for its intermediary lender strategy.
The Staines-based lender has also appointed ex-head of business development at Nemo, Simon Burnell, as director of sales for second-charge loans.
Guy Batchelor sales and marketing director, Vida Homeloans said: “Being 100% intermediary driven, our partnerships with brokers and networks are of paramount importance to us and we are continually listening to their feedback. Our goal is to ensure our product proposition, our technology and our service to intermediaries is as compelling as possible.”
He added that one of Vida’s key strengths is the breadth of criteria it offers in the specialist mortgage sector.
“We fully intend to continue to invest in our business to ensure we’re consistently meeting the needs of the ever-changing market, and we look forward to building on what has so far been a very encouraging market entry,” said Batchelor.
Jeremy Duncombe, director, Legal & General Mortgage Club, said: “We always work hard to add value to our members, and are therefore delighted to add Vida Homeloans to our panel. We have been working with the team there for quite a period of time now, helping them shape their products and customer proposition.’’
“Vida will provide more choice and competition in the specialist sector, helping brokers to provide holistic solutions to a wider range of clients.”
The firm began trialling its first residential and buy-to-let products with three mortgage packagers – 3mc, the Buy to Let Club and RHL – on 5 October.
The lender already has second charge on its radar but has yet to launch.