Belmont Green, Vida Homeloans’ parent company, has priced a £500 million UK mortgage-backed securitisation.
The transaction is the third in Belmont Green’s Tower Bridge programme and marks £1bn of securitised loans in under two years since launch.
Investors placed orders for nearly twice the available £412m of AAA bonds.
The deal was led by Barclays, JP Morgan, and Natwest Markets.
David Tweedy (pictured), CEO of Vida Homeloans, said: “Tower Bridge Funding No.3 – Belmont Green’s third UK residential mortgage backed securitisation – has progressed smoothly. This transaction is a sizeable step in Belmont Green’s plan to become a regular issuer of residential mortgage-backed securities and means that we have now securitised over £1 billion in mortgage assets since launching the business in October 2016.
“This transaction shows significant investor demand for Belmont Green’s securitised assets across all classes of notes and is a further vote of confidence in what Belmont Green is looking to achieve with the Vida Homeloans brand.
“Vida has become a specialist lender of choice for brokers looking to place complex residential and buy-to-let mortgage business. Our capital markets programme will support us in writing more business and helping more borrowers.”