Vida teams up with Zoot to develop new end-to-end mortgage platform

By Megha Bhattacharya

Specialist mortgage lender, Vida today announced a new partnership with Zoot in a bid to develop a digitally-focused mortgage journey built around intermediaries. Vida is expected to work with Zoot for building a new end-to-end mortgage platform, thus enhancing its proposition for intermediaries and growth.

Anth Mooney, CEO of Vida, commented, “The COVID-19 crisis has had an unprecedented impact on the mortgage market; at Vida, we have taken the opportunity to plan for the future and return to the market with a renewed ambition to change mortgages for good. Through this new partnership with Zoot, Vida is aiming to become a market leader in tech-enabled decisioning and origination so that we can raise the bar for our intermediary partners.

“This is a significant investment for us, and we’ll be working together with Zoot to develop new digitally-enhanced capabilities, built specifically for intermediaries and reflecting the vital role they play in our market.  Our partnership with Zoot is another important step in our ambition to help the recovery of the mortgage market and support those intermediary partners who have worked so hard to weather the COVID-19 crisis.”

According to Vida, it will utilise Zoot’s tech to create a proposition based around augmented underwriting, allowing the former’s underwriters to reach better individual lending decisions on complex cases by efficiently analysing each application on its own merits.

Adam Jackson, U.K. Managing Director of Zoot, said, “Vida are an innovative and technology-led lender and we are proud to be helping them revolutionise their services. Mortgage lending is traditionally labour intensive. Zoot’s end-to-end mortgage platform with a truly digital customer journey will be a real game changer for Vida’s partners and their customers. The combination of Vida’s vision and Zoot’s technology will undoubtedly set a new standard within the UK mortgage industry.”