LendInvest completes third securitisation of £280 million of prime UK BTL mortgage loans

LendInvest BTL Limited, a wholly owned subsidiary of LendInvest Limited, the ultimate holding company of LendInvest Secured Income plc, has completed the LendInvest Group’s third securitisation of prime Buy-to-Let (BTL) mortgages in an oversubscribed RMBS transaction, “Mortimer BTL 2021-1”.

The securitisation, which comprised £280 million of UK prime BTL mortgage loans, received an Aaa(sf) and AAA(sf) rating (for 87.5% of the pool) from global credit rating agencies Moody’s and S&P Global Ratings respectively. The senior tranche was priced at 0.70% over SONIA*; this is 37bps better than LendInvest’s last securitisation that closed in March 2020, days before the UK went into national lockdown. 

Rod Lockhart, Chief Executive of LendInvest, commented: “It’s fantastic to announce the completion of this transaction, the third of its kind for the business since we kicked off our RMBS programme in 2019. This transaction is another key example of the strong momentum we’ve exhibited over the last year as the business goes from strength to strength. We continue to be focused on leveraging our proprietary end-to-end technology platform to transform property finance, providing investors with access to an attractive asset class while proving to borrowers that property finance does not have to be characterised by rigid products, poor customer experience and manual, paper-based processes.“

LendInvest achieved the tightest spread on a UK BTL RMBS transaction since 2007.

LendInvest remains the only non-bank UK Fintech platform to have securitised its own assets, and as of this year, platform AuM** for BTL increased to over £1 billion.

The business has lent just under £4 billion of property finance to UK borrowers since 2008.

Citi acted as Sole Arranger. Citi, HSBC, National Australia Bank and Standard Chartered Bank acted as Joint Lead Managers.

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Note to Editors

* SONIA: Sterling Overnight Index Average

** Asset Under Management

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Leigh Rimmer | [email protected] | 07743 445856