This is the lender's second RMBS since its launch in 2019
Bluestone Mortgages has announced it has completed a £250 million residential mortgage-backed securitisation (RMBS), which closed on May 06.
This is Bluestone’s second RMBS, following its inaugural securitisation in August 2019, and refinances portfolios of loans held in two warehouse structures.
The pool comprises owner-occupied and buy-to-let mortgage loans, secured on properties in England, Wales, and Scotland.
The securitisation represents a significant milestone following a two-and-half-year absence from the market due to COVID-19.
Read more: Bluestone completes inaugural securitisation.
The transaction was arranged and distributed by Macquarie Bank and National Australia Bank, and was advised by Dentons.
Andrew Voss, chief financial officer at Bluestone Mortgages, said that they are proud to have completed this milestone transaction, which has been supported by core investors, despite challenging economic conditions.
“This is our second securitisation to date and will be a significant step forward to ensure we are in a robust funding position to support the growing number of underserved customers we are seeing in the market,” Voss said.
