LendInvest has completed its sixth securitisation of prime property loans, enhancing its financial footprint.
- The latest transaction, Mortimer 2024-Mix Plc, attracted significant investor interest with ratings from S&P Global and Moody’s.
- This marks LendInvest’s first securitisation involving owner-occupied loans since entering this segment in 2023.
- With 17 investors, the issuance reflects strong market confidence and competitive pricing strategies.
- LendInvest continues to expand its asset management, now totalling £4.67 billion under management.
LendInvest has reached a new milestone by completing its sixth securitisation of prime property loans through its mortgages division. The transaction, titled Mortimer 2024-Mix Plc, was oversubscribed and gained notable ratings of Aaa(sf) and AAA(sf) from S&P Global Ratings and Moody’s for 86.5% of its loan pool. This event marks the continuation of LendInvest’s securitisation programme, which has seen annual issuances since it commenced in 2019.
A key development in this transaction is the inclusion of owner-occupied loans, a first since LendInvest ventured into this emerging market in 2023. The £285 million issuance drew in 17 investors thanks to its attractive pricing, with the senior tranche priced at 0.83% over SONIA. This demonstrates solid investor trust in LendInvest’s ability to deliver quality assets and competitive returns.
Overall, the issuing has contributed to increasing LendInvest’s management portfolio, now valued at £4.67 billion. This growth underscores the firm’s role in enhancing the financial landscape by extending over £7.5 billion in property financing to support UK property investors and homeowners. The effort involved the collaboration of BNP Paribas and Citi as joint arrangers, alongside JP Morgan, Lloyds, National Australia Bank Limited, Citi, and BNP Paribas as joint lead managers.
Rod Lockhart, CEO of LendInvest, expressed satisfaction with the completion of the sixth securitisation, viewing it as a significant achievement since the RMBS programme’s inception in 2019. “The strong response from investors and our competitive pricing underscores the market’s trust in LendInvest, our expanding RMBS range with the inclusion of owner-occupied loans, and our commitment to delivering value through high-quality assets,” Lockhart stated. He further noted the firm’s resilience amidst macroeconomic uncertainties and highlighted a substantial 270% increase in buy-to-let offers year on year.
This securitisation underscores LendInvest’s continued growth and influence in the UK property finance sector.
