Enra Specialist Finance has completed its second public securitisation, backed by a portfolio of buy-to-let (BTL) and prime second charge mortgages.
The transaction comprises a £285m portfolio of first charge BTL and prime second charge mortgages, originated under Enra’s lending brand, West One Loans.
Originally a bridging lender, West One has around £1.5bn of assets under management and entered the second charge and development finance markets in 2017, before launching BTL products in 2019.
Enra issued its inaugural transaction in November 2020 and the latest securitisation follows a record year in 2021, with the business delivering £36m of EBITA and further growth in lending.
The lender revealed there was significant investor demand for the bonds which culminated in the deal achieving tight pricing while maintaining a 2x subscribed order book.
Enra Group CEO, Danny Waters, commented: “The securitisation is a great start to the year, and the culmination of significant work through 2021 to mature and industrialise our funding.
“In the last 12 months we have attracted new warehouse partners, established a flow agreement, grown our lending significantly and delivered on our promise to become a repeat RMBS issuer. The business is now extremely well placed to scale up further in 2022.”
Latest News
-
House price growth remains ‘little changed’ in August
-
Flanks partners with Perplexity on AI-driven wealth management
-
Advisers state evidencing tax wrappers 'takes more effort' in current environment
-
HMRC sets out pension/IHT information-sharing and payment processes
-
Shackleton Advisers acquires Argentis Group
-
Net mortgage borrowing falls to £4.3bn in July
Mortgage Advice Bureau and AI in the mortgage sector
Chief executive officer at Mortgage Advice Bureau, Peter Brodnicki, and founder and managing director at Heron Financial, Matt Coulson, joined content editor Dan McGrath to discuss how Mortgage Advice Bureau is using artificial intelligence to make advancements in the mortgage industry, the limitations of this technology and what 2026 will hold for the market
Perenna and the long-term fixed mortgage market
Content editor, Dan McGrath, spoke to head of product, proposition and distribution at Perenna, John Davison, to explore the long-term fixed mortgage market, the role that Perenna plays in this sector and the impact of the recent Autumn Budget
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories