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Shawbrook completes £325m securitisation of Bluestone Mortgages loans

  • 04/07/2022
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Shawbrook completes £325m securitisation of Bluestone Mortgages loans
Shawbrook Bank has completed a £352m fully retained securitisation of Bluestone Mortgages-originated loans, which will increase its wholesale funding options.

The pool is made up of 2,094 owner-occupied and buy-to-let mortgages secured against properties in England, Wales and Scotland. The loans were originated by Bluestone.

It is the inaugural securitisation of mortgages originated by Bluestone and Shawbrook said this would help “support the group’s growth objectives, funding strategy and capital management”.

The transaction is the fourth securitisation the firm has completed in recent years, including a £343m buy-to-let securitisation of The Mortgage Lender loans last year.

Dylan Minto, Shawbrook’s chief financial officer, said: “We are delighted to have successfully completed this transaction as it further supports our funding diversification strategy, positions Shawbrook as a solid repeat issuer into the debt capital markets and provides optionality to our Platform Lending origination channel as we widen our Originate to Distribute proposition.

“This transaction increases the contingent wholesale funding options available to us and provides further evidence of how our engagement with wholesale markets is providing valuable optionality within both our funding and income strategies.”

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