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Bluestone Mortgages finalises £250m securitisation deal

  • 20/05/2022
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Bluestone Mortgages finalises £250m securitisation deal
Bluestone Mortgages has completed a £250m residential mortgage-backed securitisation deal, its first in two-and-a-half years.

The deal refinances portfolios of loans held in two warehouse structures and is made up of owner-occupied and buy-to-let mortgages on properties in England, Wales and Scotland.

The lender said the securitisation marked a “significant milestone” after its absence from the market due to Covid-19.

Its last securitisation was made in 2019 and raised £210m in rated term funding. At the time, it said the transaction showed a diversification of the company’s funding strategy.

The latest transaction was arranged and distributed by Macquarie Bank and National Australia Bank. Dentons acted as the adviser.

Andrew Voss, chief financial officer at Bluestone Mortgages, said: “Despite challenging economic conditions, we are pleased to have completed this milestone transaction which has been supported by core investors.

“This is our second securitisation to date and will be a significant step forward to ensure we are in a robust funding position to support the growing number of underserved customers we are seeing in the market.”

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