New lender Belmont Green will trade as Vida Homeloans, according to chief executive David Tweedy.
The company was launched earlier this year by Tweedy and Guy Batchelor, but will not start lending until later in 2016.
Vida Homeloans chief executive David Tweedy, who was market relations director at Target until October, says: “We can confirm that Belmont Green Finance Limited has registered ‘Vida Homeloans’ as a trade mark and is developing the brand for use in the intermediary mortgage market.
“We are also continuing to undertake extensive research amongst intermediaries and customers to identify the product and service requirements of key segments of the UK mortgage market.”
Tweedy and Batchelor worked with one another at Platform between 1999 and 2006, where they were managing director and sales and marketing director, respectively.
Joining them are former Northern Rock chief information officer Lesley Sewell as chief operating officer and ex-PIMCO head of residential mortgage-backed securities Will Davies as chief financial officer.
Vida Homeloans will be a wholesale-funded lender that will only distribute through intermediaries.
Its main investor is Pine Brook, which is a New York-based private equity firm that manages more than $6bn of capital.