"We look forward to expanding our distribution and product range to benefit intermediaries and their customers in 2018."
It then launched a full roll out in January 2017 and has grown to a workforce of 140 people, based in Staines-upon-Thames, London Bridge and Skipton.
Vida's residential range includes specific products aimed at the self-employed, contractors, customers with short work histories, ‘buy together’ for four applicants and those who want to borrow in or into retirement.
For buy-to-let, 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 at Vida Homeloans, commented: “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 of Legal & General Mortgage Club, added: “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 delivers online DIPs and enables full mortgage applications in minutes. Based on our experience so far, Vida won our ‘Best Lender for Partnership with Mortgage Club’ award earlier this year.”
