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Belmont Green Finance completes £231m UK mortgage-backed securitisation

Belmont Green, the leading specialist mortgage originator, has today announced that it has completed a £231m UK mortgage-backed securitisation led by NatWest Markets and Macquarie Bank.  Belmont Green, which trades in the UK mortgage market under the Vida Homeloans brand, originates both residential and buy-to-let mortgages, and has completed in excess of £300m of mortgage lending since launching into the intermediary mortgage market in September 2016.

David Tweedy, Chief Executive, Vida Homeloans said:

“Tower Bridge Funding No.1 - Belmont Green’s first ever UK residential mortgage backed securitisation - has completed smoothly and quickly. Indeed, we believe that this may be one of the fastest UK mortgage backed securitisation from a lender’s launch that the market has ever seen. This transaction is a key milestone in Belmont Green’s plan to become a regular issuer of RMBS. 

“This transaction is a sign of significant investor demand for Belmont Green’s strategy and a vote of confidence in what Belmont Green is looking to achieve with the Vida brand.  Since its launch just over a year ago, Vida has become a go-to option for brokers looking to place specialist residential and buy-to-let mortgage business for customers with specialised lending requirements, and we’re confident that new presence as a Capital Markets Issuer will support us in writing more business and helping more borrowers.”

David Basra, CFO at Belmont Green, said:

“We’re delighted to have got our first RMBS issuance away so smoothly and Tower Bridge Funding No.1 gives Belmont Green and Vida significant firepower with which to continue our journey in the UK mortgage market. Investor appetite was keen, with over 80% of notes sold to UK-based accounts and the rated notes were placed fully with investors.”

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