This startup offers competitive savings accounts and specialist mortgage solutions, including residential and buy-to-let options, designed for customers underserved by traditional lenders. By providing transparent rates and tailored financial services, the company enables individuals to secure their savings and access necessary mortgage financing.
Funding
$393.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals and landlords are underserved by mainstream mortgage lenders due to unique financial circumstances or non-traditional employment. Savers often struggle to find transparent and competitive interest rates on their deposits from traditional high street banks.
Solution
Vida Bank provides specialist residential and buy-to-let mortgage solutions to customers underserved by mainstream lenders, working through a network of over 15,000 independent mortgage intermediaries. The bank also offers a range of savings accounts with competitive and transparent interest rates. Vida Bank aims to help more people find a place to call home, whether through home ownership or renting, while providing a trusted home for savers seeking better returns. As a fully licensed UK bank, Vida Savings accounts are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000.
Target Audience
Vida Bank serves individuals with specialist mortgage needs, including the self-employed, first-time buyers, and portfolio landlords, as well as savers looking for competitive and transparent interest rates on their deposits.
Features
- Specialist residential and buy-to-let mortgage products tailored for underserved customers
- Savings accounts with competitive and transparent interest rates
- Fixed Rate Bonds with guaranteed interest rates over a set period
- Cash ISAs allowing tax-free interest earnings
- Notice Accounts offering higher interest rates in exchange for advance notice of withdrawals
- Access Accounts providing flexibility to add and withdraw funds
- Online platform for account opening and management
- Mobile app for convenient savings management
- FSCS protection up to £85,000 for eligible deposits