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The Mortgage Lender signs second residential funding line with TwentyFour

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  • 06/08/2019
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The Mortgage Lender signs second residential funding line with TwentyFour
The Mortgage Lender has signed a second warehousing facility with TwentyFour Asset Management and HSBC that will fund the continued forward flow of its residential mortgage origination following the Barley Hill No.1 securitisation earlier this year.

 

The facility is expected to lead to a further public securitisation, likely to be the second Barley Hill transaction. The first Barley Hill transaction securitised a pool of £238.5m UK residential mortgages originated by The Mortgage Lender since it began lending in late 2016. The oversubscribed deal included £202.2m of notes (equivalent to 87 per cent of the pool) rated Aaa/AAA by Moody’s and DBRS.  

The Mortgage Lender deputy chief executive, Peter Beaumont (pictured), said: “Our second warehousing facility underlines our success and commitment to the residential lending market. It follows our best month ever for applications and completions in July and our first oversubscribed securitisation earlier this year. 

“Through listening to our broker partners, expanding the sales and underwriting teams and putting more resource into product development we are maturing into a lender that is known for its desire to do things differently and one that has a pragmatic approach to borrower circumstances in a changing world.” 

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