Foundation Home Loans has announced the completion of its fourth securitisation under the Twin Bridges platform, since its inception in 2017.
Twin Bridges 2019-2 is Foundation’s third securitisation of 2019, and its first Sterling Overnight Interbank Average Rate (SONIA) trade, following the successful 2019-1 trade in May earlier this year.
Foundation Home Loans, the intermediary-only specialist lender, has said this reflects the significant growth in origination it has developed during the year.
Foundation Home Loans chief executive, Hans Geberbauer, commented: “To be announcing our third securitisation of 2019 – our fourth overall under the Twin Bridges platform – is incredibly satisfying and goes to show our rate of origination growth, and the demand for a quality mortgage book.
“We are also acutely aware that these are challenging times for the market and therefore the confidence our investors are showing in our proposition is testament to the quality of our operation, and the strength of our Treasury team.”
The lender has also said the trade attracted a record order book of over £850m, with all tranches of the £300m transaction at least two times over-subscribed. There were 31 orders in total – with over a third of the book coming from non-UK investors.
Foundation Home Loans has suggested that this has enabled margins to be tightened significantly from the initial price talk, and for the AAA tranche to price inside secondary pricing.
The transaction has followed Foundation Home Loans securing £750m in new and renewed committed warehouse funding, providing the lender with the capacity to fulfil its planned originations into 2021 – even in the event of a closed securitisation market.
“The further good news is that, regardless of future events, we now have the committed warehouse funding capacity to deliver our ambitious lending growth through to 2021,” Geberbauer added. “It is an exciting time for Foundation Home Loans, and we are just getting started.”
Latest News
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories