The transcation, Twin Bridges 2020-1 PLC, is the fifth deal under the Twin Bridges platform which the lender established in 2017.
According to Foundation, the deal attracted strong investor interest, allowing the senior tranche to be price at 125 basis points over SONIA (the Sterling Overnight Interbank Average Rate).
It was the largest securitisation in the Twin Bridges series so far and Foundation’s first non-publicly placed trade.
The lender now has more than £1bn in warehouse funding in place to cover its lending targets over the next 12 months.
Hans Geberbauer (pictured), chief executive of Foundation Home Loans, said: “This securitisation is an excellent trade which bolsters our robust capital and liquidity position even further, allowing us to continue to offer competitive specialist mortgage funding to our intermediary partners.
“It is great to see confidence and demand returning both in the securitisation and wholesale funding market and among customers, whether for buy-to-let or owner-occupied mortgages. We are emphatically open for business.”