The Mortgage Lender completes first mortgage-backed securitisation

Ryan Bembridge

April 12, 2019

The Mortgage Lender has completed a £238.5m AAA-rated residential mortgage-backed securitisation.

The oversubscribed deal included £202.2m of note, equivalent to 87% of the pool, rated Aaa/AAA by Moody’s and DBRS.

Peter Beaumont (pictured), deputy chief executive of The Mortgage Lender, said: “We are very proud to have completed our first UK residential mortgage backed securitisation which has achieved a better than expected price in an uncertain pre-Brexit climate.

“Our transaction was oversubscribed and a clear sign of considerable investor demand for The Mortgage Lender’s securitised assets. It also proves The Mortgage Lender’s origination and funding model is secure and in demand.

“This is a milestone for The Mortgage Lender and we look forward to being a regular originator of securitised assets moving forward.”

The company was formed by Trevor Pothecary in 2015, former chief executive of Mortgages Plc, which was sold to Merrill Lynch International Bank for in excess of £100m in 2004.

TML provides mortgages for borrowers including employed, self-employed, those with impaired credit, lending into retirement and buy-to-let investors.

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