The securitisation of predominantly buy-to-let mortgages is CHL’s fourth since 1998, and by far the largest. The deal provides capital release for the group, which includes the Irish Permanent brand, and facilitates continuing strong growth going forward.
The securitisation has been arranged at a favourable and comparatively low interest rate to similar deals in the market, reflecting the high quality of the mortgage book involved.
Bob Young, Managing Director of CHL, said: "This large securitisation will provide room for continuing strong growth at CHL. We are particularly pleased to have secured an extremely favourable interest rate. This reflects the fact that we have one of the best-administered mortgage books in the UK."
