News
Keep up to date with the latest developments at Belmont Green.
New deal raises £300m to support the mortgage lending specialist in providing brokers and their customers with solutions to complex mortgage needs.
Belmont Green, the parent company of Vida Homeloans, has announced its second residential mortgage-backed security (RMBS) of 2024, Tower Bridge Funding 2024-2, raising £300m to help drive lending growth across the specialist residential and BTL markets.
This is the twelfth RMBS transaction from Belmont Green and was supported by Bank of America, Barclays, Macquarie Group, NatWest, and Santander CIB. Attracting over £1bn of demand from UK and European investors, with notes being oversubscribed by between 3.6x and 5.3x across the tranches on offer.
The transaction further strengthens Vida Homeloans funding capacity in support of its ambitious growth plans.
John Rowan, CFO, Belmont Green said: “We are very pleased with the investor reception; indeed, this is the strongest demand we have seen for a Tower Bridge RMBS, which is great news for us and also for the wider specialist lending sector in the UK”.
Anth Mooney, CEO commented: “As we continue to make progress to becoming a bank this latest transaction further deepens our funding capacity and the investor interest is a real testament to the strength of our book”.