Belmont Green, which trades as Vida Homeloans, has completed a new £300m residential mortgage-backed security (RMBS).
The group’s Tower Bridge Funding 2024-3, its third RMBS of 2024, aims to help drive lending growth across the specialist residential and buy-to-let (BTL) markets.
It also takes Belmont Green’s total of RMBS transactions to 13, with the latest deal supported by Barclays, BNP Paribas, Macquarie Group, and NatWest. Notes were oversubscribed by between 3.2 and 5.6 times across the tranches on offer.
Belmont Green suggested that the transaction strengthens Vida Homeloans’ funding capacity in support of “ambitious” growth plans.
“I am delighted that we have seen another successful Tower Bridge issuance, the support from our existing and new investor base is much appreciated,” said Belmont Green CFO, John Rowan. “The market continues to be very supportive of the specialist lending sector in the UK.”
CEO, Anth Mooney, added: “This transaction continues to demonstrate the strong investor confidence in our business as we prepare to become a bank. The high level of interest we've seen reflects the strength of our loan book and our ability to consistently deliver in the specialist mortgage market.
“This additional funding will enable us to keep supporting brokers with tailored solutions for customers, helping more people find a place to call home.”
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