LendInvest has completed its largest securitisation of £410m of its UK prime buy-to-let mortgage loans.
The group’s fifth securitisation, in an oversubscribed residential mortgage backed security transaction, received an Aaa (sf) and AAA (sf) rating from global credit rating agencies Fitch and S&P Global Ratings, respectively.
The proceeds are to be used to power LendInvest’s buy-to-let and residential products. The senior tranche of the loans was priced at 1.17 per cent over the Sterling overnight index average (SONIA).
The deal increases the platform’s funds under management to £4.2bn.
“I am delighted to announce the completion of this transaction, which is our fifth and largest securitisation since we started our RMBS programme in 2019,” said Rod Lockhart, chief executive of LendInvest.
“This achievement is particularly significant in the current market, and it demonstrates the continued attractiveness of this asset class.”
National Australia Bank and Lloyds acted as joint arrangers. Barclays, Citi, HSBC, Lloyds, National Australia Bank and Wells Fargo Securities acted as joint lead managers.