A spokesperson from Aldermore told Mortgage Solutions the funds will be using to support more lending to small to medium sized enterprises (SMEs), homeowners, landlords and individuals, as well as developing its lending products and propositions.
The deal highlights the flexibility of Aldermore’s funding model and will support the bank in delivering products which meet the needs of both its retail customers and SMEs, the lender said.
This is the first RMBS transaction sponsored by Aldermore since its inaugural Oak deal in 2014, which raised £333m.
Stephen Grainger, group treasurer at Aldermore, said this is an achievement for the bank that shows its continued diversification and access to wholesale markets despite a four-year absence from the securitisation market.
He added: “The proceeds will support our loan book growth to SMEs, homeowners, landlords and individuals as we continue to provide them with banking as it should be.”