Deal refinances loans secured on residential properties
Lendco has announced the completion of its second public buy-to-let mortgage-based securitisation of £384 million, which closed on May 12, with excess demand received from EU and UK investors despite volatile market conditions.
The deal refinances loans secured on residential properties in England and Wales held in a warehouse facility, and follows the specialist buy-to-let lender’s inaugural securitisation of £314 million in February 2021.
The transaction was co-arranged by HSBC and BNP Paribas. Joint lead managers were HSBC, BNP Paribas, and NatWest Markets.
Commenting on the deal, Lendco managing director Simon Knight said they were delighted to have completed the second securitisation, which secures funding for an additional four years.
“This second securitisation is further evidence of our intention to be a sustained and programmatic issuer in the capital markets. It also reflects continued investor confidence in Lendco’s platform,” Knight stated.
Lendco is an intermediary-only specialist finance lender providing buy-to-let mortgages and bridging loans to experienced professional landlords and property investors. The company was launched in 2018 and has since passed £1 billion of total loan origination.
