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Belmont Green Finance, whose Vida Homeloans brand is the award-winning specialist UK mortgage lender, has today announced that it has closed a successful £500 million UK mortgage-backed securitisation. The transaction is the fourth in Belmont Green’s Tower Bridge programme which has securitised £1.54 billion of buy to let and specialist owner-occupied loans in just over 2 years since launch. Investor participation in the deal was very strong, with all classes of notes fully subscribed. The mezzanine tranches were particularly sought after, with investors placing orders totalling several multiples of the available notes.
The deal was led by Barclays, JP Morgan, Santander and Macquarie Bank.
David Tweedy, Chief Executive Officer, Belmont Green Finance, said:
“Tower Bridge Funding No.4 - Belmont Green’s fourth UK residential mortgage backed securitisation - is another hugely significant step in our plan to become a regular issuer of residential mortgage-backed securities and means that we have now securitised more than £1.5 billion in mortgage assets since launching the business in October 2016. At a time when some competitors have had difficulty in executing their funding strategies, it is particularly reassuring for the market to see Belmont Green Finance well-funded for further growth.
“This transaction shows investor demand for Belmont Green’s securitised assets across all classes of notes and demonstrates that investors are confident in both our Capital Markets programme and what we are achieving with the Vida Homeloans brand in the specialist UK mortgage market.”