The residential mortgage-backed securities (RMBS) transaction was issued under the specialist lender’s Polaris programme, comprising a pool of UK residential mortgage loans with a mix of owner-occupied and buy-to-let (BTL) mortgages.
The lender said it attracted strong demand from a broad range of investors.
The money raised will support Pepper Money’s lending and growth in the mortgage market, including its aims to help under-served borrowers onto the property ladder.
Andy Voss, CFO at Pepper Money, said: “We are delighted to have successfully closed our third RMBS transaction of the year, particularly against a backdrop of ongoing market volatility and geopolitical uncertainty. As we continue to support borrowers under-served by traditional lenders, this funding will help further our mission to drive greater financial inclusion across the UK housing market.
“The transaction attracted strong interest from a broad base of investors, reflecting the strength of our proposition and confidence in our platform. It also marks another important milestone in the growth of our capital markets programme, supporting our ambition to be a consistent, through‑the‑cycle issuer.”
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Today, Pepper Money announced the launch of a dual-rate two-year fixed mortgage, giving borrowers the choice of a lower initial rate and higher reversion rate, or a higher initial rate and lower reversion rate to manage affordability.
