The first transaction was a £352m securitisation of specialist first charge residential and buy-to-let mortgages originated by Pepper Money.

This was followed by a £277m securitisation of second charge mortgages originated by Optimum Credit.

Both transactions attracted strong investor demand and were oversubscribed in a competitive market and uncertain economic environment, the lender said.

Pepper Money and Optimum Credit recently signalled increased lending appetites with the launch of enhanced products and criteria.

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Laurence Morey, chief executive of Pepper Money (pictured), said: “The success of these securitisations is particularly pleasing given the completely unprecedented environment we have lived through in the last six months and the challenges faced by non-bank lenders.

“It is reassuring that there continues to be such strong investor demand for high-quality assets and this provides us with a solid foundation on which we can confidently continue to grow our first and second charge lending volumes.

“We will, of course, remain cognisant of the changing environment and maintain a robust and appropriate approach to underwriting, but we do so with an honest appetite to lend and a deep commitment to supporting our intermediary partners.

“I am confident that the challenges we have overcome will help us to establish a stronger sector that is better able to deliver the solutions that brokers need to meet the changing needs of a diverse group of borrowers.”