Asset financeBuy-to-letNews

TML assets fully subscribed on first £330m buy to let securitisation

The first securitisation of 2,096 unregulated residential buy-to-let (BTL) mortgages secured on properties in England, Wales and Scotland, originated by The Mortgage Lender (TML), has completed.


The fully subscribed deal of £200m Class A notes priced at 110 bps above Sonia were privately marketed to investors and made public on 17 September.

The A notes were distributed through Lloyds Bank, Bank of America and Barclays Bank, with the A-E notes fully pre-placed.

X notes and residual certificates were also placed with investors which means the £330m transaction was fully subscribed at pricing.

Peter Beaumont, chief executive at The Mortgage Lender, said: “The first buy-to-let securitisation of assets originated and serviced by The Mortgage Lender marks a significant milestone for us.

“To generate positive interest from investors in the current climate is testament to the quality of the loans we are originating and the quality of the team, who have worked tirelessly to support our introducers and customers.

“Over the last six months we’ve gained market share in buy to let and look forward to being a regular originator of securitised assets moving forward.

“We are also investing in our capability through the expansion of our customer services team to ensure we continue to provide the support our partners and our customers need over the coming years.”

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