The issuance boosts Vida Homeloans' funding capacity
Belmont Green, trading as specialist lender Vida Homeloans, has completed its third residential mortgage-backed security (RMBS) transaction of the year, raising £300 million to support growth in the specialist residential and buy-to-let markets.
The deal, Tower Bridge Funding 2024-3, is Belmont Green’s 13th RMBS transaction and received backing from Barclays, BNP Paribas, Macquarie Group, and NatWest. Investor demand reached nearly £1 billion, with notes oversubscribed by between 3.2x and 5.6x across the available tranches.
The issuance bolsters Vida Homeloans’ funding capacity, aligning with the lender’s growth ambitions.
“I am delighted that we have seen another successful Tower Bridge issuance, the support from our existing and new investor base is much appreciated,” said John Rowan, chief financial officer of Belmont Green. “The market continues to be very supportive of the specialist lending sector in the UK.”
“This transaction continues to demonstrate the strong investor confidence in our business as we prepare to become a bank,” added Anth Mooney (pictured), chief executive of Belmont Green and Vida Homeloans. “The high level of interest we’ve seen reflects the strength of our loan book and our ability to consistently deliver in the specialist mortgage market.
“This additional funding will enable us to keep supporting brokers with tailored solutions for customers, helping more people find a place to call home.”
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