Atom Bank launches first mortgage-backed securitisation

Ryan Bembridge

October 25, 2018

Atom Bank has launched its first residential mortgage-backed securitisation, Elvet Mortgages 2018-1, publicly placing £400m of bonds.

The securitisation comprises of prime mortgage loans, while Atom said it anticipates being a regular issuer of residential mortgage-backed securities.

David McCarthy, chief financial officer at Atom Bank, said: “We are delighted to announce the launch of our RMBS programme – the latest milestone in Atom Bank’s development.

“Securitisation is one of the ways we are delivering efficient funding for our business, contributing to our overall model of keeping costs low and passing back that value to our customers through great mortgage deals.”

He added: “We’re pleased with the level of demand for the notes and investor feedback on our lending platform.

“In line with our goals to grow our bank and giving customers a fair deal, we anticipate being regular issuers of prime RMBS.”

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