New mortgage lending for Vida Bank increased to £1bn, more than doubling year on year, while the bank’s loan book grew by 24% to £2.3bn.

Mortgage applications climbed to £2.6bn during the year,  which the bank claimed reflected strong demand from brokers for specialist mortgage solutions.

The lender also attracted more than £2.4bn in retail deposits from over 75,000 savers, significantly strengthening its funding base and reducing the overall cost of funds.

Profit before tax jumped to £9.4m from £3.6m in 2024.

Commenting on the figures Vida Bank chief executive Anth Mooney said: “Becoming a bank has transformed the scale at which we can compete. The specialist mortgage market remains our sole focus, serving customers with complex incomes or circumstances that do not quite fit the traditional high street lending model.”

He added: “Over the past year we’ve invested heavily in our decisioning capabilities and service model, combining deeper data insights with experienced underwriting judgment to assess cases more intelligently. That combination allows us to grow with confidence; building a highly scalable mortgage origination platform while maintaining the discipline and credit quality that underpins a sustainable specialist bank. Our approach is different to our competitors, but brokers and customers genuinely seem to love it.”