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|New lender Vida Homeloans strengthens its criteria-driven mortgage lending proposition|
|Monday, 21 November 2016|
Following its recent successful launch to the UK mortgage market via 12 packagers, Vida Homeloans has today announced a further expansion of its distribution partners to include selected networks and mortgage brokers. The move highlights the lender's ongoing commitment to intermediaries, providing specialist residential and buy to let lending solutions for underserved segments of the mortgage market.
The brokers and networks chosen to partner with Vida Homeloans comprise of selected Legal & General Mortgage Club Key Partners and Nouveau members, Intrinsic, Sesame and SimplyBiz.
Vida Homeloans worked extensively in collaboration with intermediaries to tailor and refine its proposition before its full launch. As a result, and reflecting changing customer demographics and customer needs, the new lender offers a range of niche mortgage solutions targeted at borrowers who are overlooked by the mainstream lenders. Extensive work on customer segmentation was carried out to identify the borrower profiles that would be best served by the specialist lender. These include 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 together. In the Buy to Let sector the lender provides products for limited companies, Houses in Multiple Occupation, first time landlords and expats.
Vida was founded by a team of experienced individuals gathered from across the intermediary mortgage market to build a new lender that truly reflects the needs of customers.
Guy Batchelor Sales & Marketing Director, Vida Homeloans comments: “Vida has received an overwhelmingly positive response from the market, and we are thrilled at how well the launch has gone thus far. We are fully committed to becoming a meaningful lender in the specialist sector and making a positive difference to borrowers in achieving their financial goals.
“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. One of Vida’s key strengths is the breadth of criteria we offer 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.”
Jeremy Duncombe, Director, Legal & General Mortgage Club commented; “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.”
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