LendInvest announced it has completed its second securitisation of buy-to-let (BTL) mortgages in an oversubscribed RMBS transaction, Mortimer BTL 2020-1.
The property finance platform suggested that despite significant market turbulence from the global spread of the coronavirus, it took LendInvest six business days to price the transaction after opening investor discussions.
The transaction also came only nine months after LendInvest had entered the RMBS market with its first securitisation of £259m BTL loans, Mortimer BTL 2019-1.
The latest securitisation, which comprised £285m of UK prime BTL mortgage loans, received an AAA rating – for 85% of the pool – from global credit rating agencies, Fitch and S&P Global Ratings. Furthermore, LendInvest revealed the senior tranche was priced at 1.07% over SONIA – an improvement of 23bps from LendInvest’s securitisation last year.
LendInvest chief executive, Rod Lockhart, commented: “When we launched the roadshow for this transaction, no one could have predicted the full extent of the market turmoil that was about to unfold. It has been a truly unprecedented and unusual environment to agree and settle a transaction as substantial as this for LendInvest – let alone the whole UK mortgage market.
“The circumstances mean it’s all the more rewarding to have returned to the RMBS market as emphatically as we have done with this transaction.
“Our much improved pricing and the appetite for this transaction from both existing and new investors have proven our liquidity, our funding model and the resilience of our wider business strategy to withstand market uncertainty. This transaction ensures our levels of BTL lending needn’t dip over the coming months as the world works through this most unusual time.”
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