Enra Specialist Finance, the parent of West One Loans, has completed a £320m securitisation of first charge and buy-to-let (BTL) mortgages through its latest issuance, Elstree 2025-1.
The transaction, West One’s sixth securitisation, attracted a broader investor base and welcomed six new investors to the programme.
It achieved the tightest Class A pricing for a publicly marketed UK BTL and residential mortgage-backed security since 2021, demonstrating market confidence in the platform.
The credit performance of previous Elstree issuances has remained strong despite challenging economic conditions for borrowers.
Emily Gestetner, chief financial officer at Enra Specialist Finance, said: “We’re delighted to have closed our sixth securitisation, and inaugural pure 1st charge transaction, cementing Enra’s reputation as a reliable repeat issuer of high quality RMBS.
“The fact the issue was oversubscribed and achieved market leading pricing, is a testament to the quality of our underwriting and the robust performance of our loan book.
“Importantly, this deal gives us the firepower to ramp up our lending as we execute our ambitious growth plans for the year ahead.”
