The Mortgage Lender’s first UK mortgage-backed securitisation of residential assets has completed for a total notes issuance of £238.5m.
The oversubscribed deal included £202.2m of note (equivalent to 87% of the pool) rated Aaa/AAA by Moody’s and DBRS.
The AAA-rated tranche was priced at 110bps.
Peter Beaumont (pictured), The Mortgage Lender’s deputy chief executive, said: “We are very proud to have completed our first UK residential mortgage backed securitisation which has achieved a better than expected price in an uncertain pre-Brexit climate.
“Our transaction was oversubscribed and a clear sign of considerable investor demand for The Mortgage Lender’s securitised assets. It also proves The Mortgage Lender’s origination and funding model is secure and in demand.
“This is a milestone for The Mortgage Lender and we look forward to being a regular originator of securitised assets moving forward.”