LendInvest has sold its non-risk retention residual economic interest in the Mortimer BTL 2023-1 securitisation for a consideration of £5m.
The AIM-traded firm said that the sale took place via its subsidiary, LendInvest BTL, and that the move is "in line with its strategy to optimise its funds under management", whilst alsos "moving more assets of its balance sheet".
In November 2023, the firm secured the fifth and largest securitisation transaction of the Mortimer BTL 2023-1, valued at £410m.
The sale process and purchase for onward sale was managed by Citi’s secondary trading desk.
As a result of the sale, LendInvest stated that the transaction would lead to a reduction in the group’s gross loan and advances of £392m and would also generate a net pre-tax gain of £12.1m for the current financial year.
Chief executive officer at LendInvest, Rod Lockhart, said: "We are delighted to have successfully completed this sale, which will strengthen our balance sheet, and underlines our focus on returning the business to profitability."
Latest News
Perenna and the long-term fixed mortgage market
Content editor, Dan McGrath, spoke to head of product, proposition and distribution at Perenna, John Davison, to explore the long-term fixed mortgage market, the role that Perenna plays in this sector and the impact of the recent Autumn Budget
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.
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?
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.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories