The Mortgage Lender (TML) has announced the completion of the first securitisation of 2,096 unregulated residential buy-to-let (BTL) mortgages it has originated, secured on properties in England, Wales and Scotland.

The intermediary-only mortgage lender said the fully subscribed deal of £200m class A notes priced at 110 bps above Sonia were privately marketed to investors, and as a result of a strong order book, made public on 17 September.

TML also revealed that the A notes were distributed through Lloyds Bank, Bank of America and Barclays Bank, with the A-E notes fully pre-placed. X notes and residual certificates were also placed with investors, meaning the £330m transaction was fully subscribed at pricing.

TML chief executive, Peter Beaumont, commented: “The first BTL securitisation of assets originated and serviced by The Mortgage Lender marks a significant milestone for us. To generate positive interest from investors in the current climate is testament to the quality of the loans we are originating and the quality of the team, who have worked tirelessly to support our introducers and customers.

“Over the last six months we’ve gained market share in BTL and look forward to being a regular originator of securitised assets moving forward. We are also investing in our capability through the expansion of our customer services team to ensure we continue to provide the support our partners and our customers need over the coming years.”

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