Lendco has completed a securitisation of a £300m portfolio of buy-to-let mortgages.
Lendco has completed a securitisation of a £300m portfolio of buy-to-let mortgages.
The lender has completed nearly 1,200 loans since September 2018, equating to over £460m lent.
Lendco works with a select group of intermediaries, having lent via a panel of less than 70 firms.
Simon Knight, managing director of Lendco, said: “We have achieved a great deal in a relatively short time but in a very measured way.
“Our focus is always on quality and we were delighted to get such a great reception from multiple UK and EU investors, ending up being four times oversubscribed for our inaugural securitisation.
“The Lendco story of manual underwriting and outstanding credit performance has gone down extremely well.'
“We aim to continue to grow Lendco in 2021 and we will need to increase our breadth of distribution to do that.
"We have just launched a highly competitive new product range and have had a great start to the year with January looking like it will be a record month for applications.”
Mark Harris, chief executive of SPF Group, added: “It is quite remarkable what has been achieved in two years, with Simon and his team building a lender from a standing start to £460m of completions.
“When you throw in the uncertainty over Brexit during that time and then an unprecedented global pandemic, this first securitisation is even more impressive.”
