You are here: Home - News -

Vida completes £300m lending and parent lands first securitisation

by:
  • 25/10/2017
  • 0
Vida completes £300m lending and parent lands first securitisation
Belmont Green Finance, parent company of Vida Homeloans, has completed its first UK mortgage-backed securitisation worth £231m after lending £300m since its launch.

NatWest Markets and Macquarie Bank led the UK mortgage-backed securitisation of Vida’s residential and buy-to-let loans and follows the lender’s launch in September 2016.

David Tweedy, CEO of Vida Homeloans, (pictured) said: “Tower Bridge Funding No.1 – Belmont Green’s first ever UK residential mortgage backed securitisation – has completed smoothly and quickly. Indeed, we believe that this may be one of the fastest UK mortgage backed securitisations from a lender’s launch that the market has ever seen.”

Tweedy confirmed Belmont’s plans to regularly issue residential mortgage backed securities.

“This transaction is a sign of significant investor demand for Belmont Green’s strategy and a vote of confidence in what Belmont Green is looking to achieve with the Vida brand,” said Tweedy.

In August, Vida told Mortgage Solutions exclusively its plans to launch in Scotland and into the second charge market, alongside ongoing discussions to broaden its distribution.

The lender has stated it is not focused on credit impaired borrowers with the majority of its lending to date going to buy-to-let remortgages. On the residential side, lending has been to first-time buyers and also multiple borrowers, often including parents, buying together.

 

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Treasury keen to include rental payments on UK credit profiles

A Treasury minister has pledged the government will raise awareness on services that allow rent to enhance consumer credit profiles...

Close