Molo Tech Limited (Molo) and ColCap Financial UK Limited (ColCap UK) have successfully completed their first residential mortgage-backed security.
The Molossus BTL 2024-1 securitisation totals £300m of prime UK BTL mortgage loans in England and Wales.
The securitisation received a AAA(sf) rating from global credit rating agencies Fitch and S&P Global Ratings respectively.
The ratings were for 87.5% of the pool and the senior tranche was priced at 0.95% over SONIA.
Macquarie Bank and Standard Chartered Bank acted as joint arrangers and Macquarie Bank, Standard Chartered Bank, and Citigroup acted as joint lead managers.
Matt Kimber, CEO at Molo, said: “The success of this RMBS highlights the strength of Molo’s mortgage lending capabilities and the credit quality of our originations.
“It enables us to continue empowering landlords with accessible and innovative lending solutions while reinforcing our position as a leader in the BTL mortgage market.”
Commenting on the achievement, ColCap UK’s executive director and COO Esther Morley, added: “The successful RMBS demonstrates growing confidence in the UK property market and in the quality of Molo’s BTL portfolio.
"This strategic move with Molo is the first of many and demonstrates our commitment to innovation.
“It also marks the beginning of a new chapter for ColCap in the UK market; it sets the stage for further collaborations and growth opportunities, benefiting both our UK operations and our broader global presence, including ColCap Australia.”
