Complex Buy To Let
Belmont Green raises £400m in second securitisation of the year
Belmont Green, which trades as specialist lender Vida Homeloans, has issued its second residential mortgage-backed security (RMBS) of 2023, Tower Bridge Funding 2023-2.
This has raised £400m which the lender will use to drive growth in the specialist residential and buy-to-let mortgage markets.
This is the 10th RMBS transaction completed by Belmont Green overall and its last transaction, which completed in January, raised £350m.
The latest deal was backed by Barclays, Natwest and Santander, and attracted £600m of demand from investors both internationally and in the UK.
The firm said the transaction strengthened Vida Homeloans’ funding capacity, along with its existing warehouse facilities.
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On a firmer foot
John Rowan, CFO of Belmont Green, said: “We are pleased to have priced our second specialist mortgage deal of the year, with the transaction drawing strong support from investors. The demand is a testament to the strength of our portfolio and the levels of oversubscription demonstrates confidence in our investor approach and execution.”
Anth Mooney, CEO of Belmont Green, added: “The business is on a far firmer footing than it has ever been, and we are delighted with the outcome of this transaction despite the market challenges.
“Our capital markets expertise combined with the diversified funding capability we will have as a bank, will provide a platform from which we can compete more effectively and achieve our growth ambitions.”