Vida Homeloans has attracted £1.6 billion decisions in principle (DIPs) and £800 million in applications one year after launching its specialist residential and buy-to-let (BTL) mortgage proposition to the UK market.
Based in the south-east, Vida has experienced a rapid roll out to the market from the beginning of the year, developing criteria-driven mortgage solutions for the intermediary market.
Guy Batchelor, sales and marketing director of Vida Homeloans, said: “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.”
He continued: “We look forward to expanding our distribution and product range to benefit intermediaries and their customers in 2018.”
Vida’s residential range includes specific products aimed at the self-employed, contractors, customers with a short work history, ‘buy together’ for four applicants and those who want to borrow in or into retirement.
The lender says it also accepts applications from individuals, limited companies and trading partnerships on its buy-to-let range.
“Vida has delivered an innovative proposition since coming to the market just a year ago,” said Jeremy Duncombe, director of Legal & General Mortgage Club.
“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.”