Belmont Green Finance, which trades as Vida Homeloans, has announced that it reached £795m in new lending in 2022, a figure up from £463m in the previous year.
The specialist lender has reported a strong year with both statutory and core profitability achieved against what it described as “a backdrop of significant market disruption”.
Belmont Green stated that significant investment in mortgage transformation resulted in streamlining Vida’s service and scaling its operating model.
As well as reporting a strong financial performance, 2022 also saw Vida successfully complete its eighth residential mortgage-backed security (RMBS) transaction, raising £400m, which has been followed by a further £350m in January 2023. Vida also formally started the application process to become a bank.
Commenting on the lender’s annual report, CEO, Anth Mooney, said: “We enter 2023 in a confident position, with committed funding capacity in place, a high-quality loan book, a strong capital base, cautious provisioning, and a well-established distribution franchise. We are well placed to execute on our lending plans for the year ahead and continue our journey towards becoming a bank.
“The strong results for the year would not have been possible without the continued hard work, dedication, and performance of our people. I want to wholeheartedly thank our colleagues who have played their part in helping grow our business while successfully navigating further market uncertainty.”
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