Vida has announced that Richard Tugwell is to become its next director of mortgage distribution.

Louisa Sedgwick will be leaving the specialist mortgage lender at the end of March, following her decision to take up a new role in the autumn.

With 30 years experience of the UK intermediary market, Tugwell (pictured) has previously been Virgin Money’s director of intermediaries and an ex-director of IMLA (Intermediary Mortgage Lenders Association) and joins following a spell with specialist mortgage lender Together.

Anth Mooney, Vida CEO, said: “I’m thrilled to announce that Richard will be joining us for the next phase of Vida’s journey. We are investing to improve our products, pricing and service levels to take advantage of the growing specialist market post-Covid and, having worked closely with Richard for over 20 years, I know that there is no-one better equipped to help us deliver our growth ambitions.

“I would like to take this opportunity to thank Louisa for her contribution to Vida. She has been an important part of the Vida story and we wish her well for the future.”

Tugwell added: “The specialist lending sector is an important and growing part of the wider mortgage market. Vida has ambitious plans for the future, and I am delighted to be coming on board for the next exciting stage in its journey. I look forward to working with Anth again and with Vida’s highly experienced leadership team and can’t wait to get involved.”