BTL lender Keystone Property Finance has successfully completed its third securitisation, Hops Hill No.3 plc, comprising £385m worth of BTL loans originated by the lender.
This is part of a forward-flow agreement with a listed investment firm, which is managed by TwentyFour Asset Management.
There was strong demand for Hops Hill No.3, with the AAA notes achieving a price of Sonia +115 basis points.
The deal is the first BTL securitisation in some time to include an element of pre-funding — meaning a proportion of the issue includes loans currently in the pipeline.
Keystone Property Finance has completed two previous public securitisations since relaunching in 2018.
Elise Coole, managing director at Keystone Property Finance, commented: “It is great to see the securitisation markets active and strong demand for deals from a wide investor base.
“This is a major vote of confidence in everything we are doing here to ensure we offer a leading proposition to brokers and landlords whilst lending sensibly.
“What we have now is added firepower to continue that good work and to give to brokers and landlords more of what they want and need at competitive prices.”
