Virgin Money plc is launching its second securitisation issue of the year.
It is called Gosforth Funding 2012-2 plc.
Virgin Money says the transaction will help to diversify both the source and term of its funding base and support its business strategy including growing its lending.
Notes will be secured on Virgin Money plc’s prime UK residential mortgage assets.
Deutsche Bank and The Royal Bank of Scotland have been appointed as joint lead managers for the deal, which is expected to price and close in mid November, subject to market conditions.