Belmont Green raises £350m following RMBS deal

The residential mortgage-backed security (RMBS), Tower Bridge Funding 2023-1, will be used to fund the lender’s growth in specialist residential and buy-to-let markets. 

This was the ninth overall RMBS transaction from Belmont Green and was supported by Bank of America, Barclays, Macquarie Group, Natwest and Santander. It attracted over £900m of demand from investors in the UK and internationally.  

The notes were oversubscribed by between 2.5 and 6.1 times across the tranches on offer. 

Alongside £900m in warehouse facilities, this will support Vida Homeloans’ funding capacity. 

John Rowan, CFO at Belmont Green, said: “We were very pleased with the investor reception for what was again the first specialist mortgage deal of the new year. The pricing of the transaction and the demand from investors is a testament to the strength of our portfolio, their confidence in our platform and the wider specialist lending sector in the UK.” 

Anth Mooney (pictured), CEO of Belmont Green, added: “We transformed our intermediary service delivery in 2022 and as we start 2023, this transaction provides us with a deep funding capacity that will allow us to support the specialist lending market.  

“Together with our strong service levels and excellent feedback from our intermediary partners, we go into the year with continued confidence as we move forward on our journey to become a bank.”