Belmont Green, the parent company of Vida Homeloans, has issued its second residential mortgage-backed securitisation (RMBS), Tower Bridge Funding 2024-2, totalling £300m.
The new securitisation raises funding to help drive lending growth across the specialist residential and BTL markets.
This is the twelfth RMBS transaction from Belmont Green and was supported by Bank of America, Barclays, Macquarie Group, NatWest, and Santander CIB.
It attracted over £1bn of demand from UK and European investors, with notes being oversubscribed by between 3.6x and 5.3x across the tranches on offer.
The transaction further strengthens Vida Homeloans funding capacity in support of its ambitious growth plans.
John Rowan, CFO at Belmont Green, said: “We are very pleased with the investor reception; indeed, this is the strongest demand we have seen for a Tower Bridge RMBS, which is great news for us and also for the wider specialist lending sector in the UK.”
Anth Mooney, CEO at Belmont Green (pictured above), commented: “As we continue to make progress to becoming a bank this latest transaction further deepens our funding capacity and the investor interest is a real testament to the strength of our book.”
