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Belmont Green Finance brings £500 million securitisation – its largest to date

Belmont Green, the parent company of leading specialist mortgage lender Vida Homeloans, has today announced that it has priced a £500 million UK mortgage-backed securitisation. The transaction is the third in Belmont Green’s Tower Bridge programme and marks a milestone of £1bn of securitised loans in under 2 years since launch. Investor participation in the deal was strong, particularly in the AAA class, placing orders for nearly twice the available £412m of AAA bonds.

The deal was led by Barclays, JP Morgan, and Natwest Markets.

David Tweedy, Chief Executive Officer, Vida Homeloans said:

“Tower Bridge Funding No.3 - Belmont Green’s third UK residential mortgage backed securitisation - has progressed smoothly. This transaction is a sizeable step in Belmont Green’s plan to become a regular issuer of residential mortgage-backed securities and means that we have now securitised over £1 billion in mortgage assets since launching the business in October 2016.

“This transaction shows significant investor demand for Belmont Green’s securitised assets across all classes of notes and is a further vote of confidence in what Belmont Green is looking to achieve with the Vida Homeloans brand.  Vida has become a specialist lender of choice for brokers looking to place complex residential and buy-to-let mortgage business. Our Capital Markets programme will support us in writing more business and helping more borrowers.”

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