Belmont Green Finance closes £500m securitisation

Michael Lloyd

July 15, 2019

household finances during pandemic

Belmont Green Finance has closed a £500m UK mortgage-backed securitisation, the fourth in Belmont Green’s Tower Bridge programme.

The programme has securitised £1.54bn of buy-to-let and specialist owner-occupied loans in just over two years since launch. Belmont Green Finance trades as Vida Homeloans.

David Tweedy, chief executive officer, Belmont Green Finance, said: “Tower Bridge Funding No.4 – Belmont Green’s fourth UK residential mortgage backed securitisation – is another hugely significant step in our plan to become a regular issuer of residential mortgage-backed securities and means that we have now securitised more than £1.5bn in mortgage assets since launching the business in October 2016.

“At a time when some competitors have had difficulty in executing their funding strategies, it is particularly reassuring for the market to see Belmont Green Finance well-funded for further growth.

“This transaction shows investor demand for Belmont Green’s securitised assets across all classes of notes and demonstrates that investors are confident in both our Capital Markets programme and what we are achieving with the Vida Homeloans brand in the specialist UK mortgage market.”

Belmont Green said investor participation in the deal was very strong, with all classes of notes fully subscribed. The mezzanine tranches were particularly sought after, with investors placing orders totalling several multiples of the available notes.

The deal was led by Barclays, JP Morgan, Santander and Macquarie Bank.

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