LendInvest prices fourth BTL securitisation deal at £270m

The transaction is expected to close on 12 May, with total fund under management at that time expected to rise to £3.2bn.

The lender said that the securitisation consisted of prime buy-to-let mortgage loans and the transaction was “oversubscribed”.

Rod Lockhart (pictured), chief executive of LendInvest, said: “We are pleased to have priced this transaction, which will further grow our funds under management and supports our medium term expected growth trajectory.

“Despite challenging market conditions, the transaction attracted three new investors to the platform, as well as a broad range of investors including asset managers, banks, insurers and a building society, demonstrating robust investor demand for this attractive asset class.”

In its latest results, LendInvest said that it had increased it assets under management by 32 per cent to £1.8bn in the six months to 30 September, fuelled by growth in buy-to-let assets.

Its funds under management also rose by 40 per cent year-on-year to £2.9bn, supported by a £725m account agreement with JP Morgan and completion of its third RMBS securitisation of £280m buy-to-let loans.

The lender added that it would be moving into the homeowner specialist space this year and unveiled a holiday let range and 10-year fixed rate buy-to-let product last year.

Citi acted as sole arrange for the transaction and Citi, J.P. Morgan Securities, National Australia Bank and Standard Chartered Bank acted as joint lead managers.