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LendInvest completes £410m BTL mortgage securitisation, its largest ever

The transaction is LendInvest’s fifth and largest securitisation to date.

Rod Lockhart LendInvest

Rod Lockhart/LendInvest

LendInvest has completed its fifth and largest securitisation to date via a £410m BTL mortgage book.

The London-based fintech, which focuses on the property lending market through mortgages and other loans, first debuted its first securitisation back in 2019 with a £259m deal.

This transaction, which the company says was oversubscribed, was dubbed Mortimer BTL 2023-1.

It was rated Aaa(sf) and AAA(sf) rating (for 89.5 per cent of the pool of BTL mortages) by credit rating agencies Fitch and S&P Global Ratings, respectively. The senior tranche was priced at 1.17 per cent over SONIA.

National Australia Bank and Lloyds acted as Joint Arrangers. Barclays, Citi, HSBC, Lloyds, National Australia Bank Limited, Wells Fargo Securities acted as Joint Lead Managers.

The securitisation will mean LendInvest's total Funds under Management (FuM) reach £4.2bn, with the business hitting more than £6 bn of property finance lent in the UK since its 2008 launch.

"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. This achievement is particularly significant in the current market, and it demonstrates the continued attractiveness of this asset class,” Rod Lockhart, LendInvest’s CEO said.

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