LendInvest plc has completed its sixth securitisation in prime property loans originated by its mortgages division.
The £285m oversubscribed transaction, ‘Mortimer 2024-Mix Plc’, received Aaa(sf) and AAA(sf) ratings from S&P Global Ratings and Moody’s, respectively, for 86.5% of the loan pool.
This was LendInvest’s sixth consecutive annual securitisation since launching the programme in 2019, and included its first securitisation of owner-occupied loans since launching into this growing market in 2023.
The securitisation delivered pricing supported by 17 investors and the senior tranche was priced at 0.83% over SONIA.
The issuance brought LendInvest’s total funds under management to £4.67bn.
To date, LendInvest has helped lend over £7.5bn in property finance, supporting property investors and homeowners across the UK in securing competitive finance solutions.
BNP Paribas and Citi acted as joint arrangers, with JP Morgan, Lloyds and National Australia Bank Limited, Citi and BNP Paribas acting as joint lead managers.
Rod Lockhart, chief executive officer of LendInvest, said: “I am delighted to announce the completion of our sixth securitisation, marking another milestone since we launched our RMBS programme in 2019.
“The strong response from investors and our competitive pricing underscores the market’s trust in LendInvest, our expanding RMBS range with the inclusion of owner-occupied loans, and our commitment to delivering value through high-quality assets.
“This securitisation exemplifies our capability to meet investor demand while continuing to grow responsibly.”
Lockhart added: “Despite macro uncertainty around, for example, what the UK budget would bring, we’re continuing to see really healthy activity in the buy-to-let market – as our 270% increase in buy-to-let offers year on year demonstrates.”
