This is Belmont’s third and largest securitisation, with others happening in April and October last year. The company has now hit a milestone of £1bn of securitised loans.
Belmont Green, parent of Vida Homeloans, has priced a £500m UK mortgage-backed securitisation.
This is Belmont’s third and largest securitisation, with others happening in April and October last year. The company has now hit a milestone of £1bn of securitised loans.
David Tweedy, chief executive of Vida Homeloans, said: “This transaction is a sizeable step in Belmont Green’s plan to become a regular issuer of residential mortgage-backed securities and means that we have now securitised over £1bn in mortgage assets since launching the business in October 2016.
“This transaction shows significant investor demand for Belmont Green’s securitised assets across all classes of notes and is a further vote of confidence in what Belmont Green is looking to achieve with the Vida Homeloans brand.”
Investor participation was said to be strong, particularly in the AAA class, placing orders for nearly twice the available £412m of AAA bonds.
