FINAL
November 7 2024
LendInvest [Mortgages] Completes
Sixth Securitisation of £285 Million UK Prime Buy-to-Let and
Owner-Occupied Mortgage Loans
LendInvest plc (LSE:
LINV)("LendInvest" or the "Company"), the UK's leading
platform for property finance and the parent company of LendInvest
BTL Ltd and LendInvest Loans Limited, today announces the
successful completion of its sixth securitisation in prime UK
property loans originated by its Mortgages division.
The £285m oversubscribed transaction, "Mortimer
2024-Mix Plc" received Aaa(sf) and AAA(sf) ratings from S&P
Global Ratings and Moody's, respectively, for 86.5% of the loan
pool.
This transaction marks LendInvest's sixth consecutive
annual securitisation since launching the programme in 2019, and
includes its first securitisation of owner-occupied loans since
launching into this growing market in 2023.
The securitisation delivered market-leading pricing
supported by 17 investors - demonstrating continued confidence in
LendInvest-originated collateral, a testament to the Company's
underwriting quality, performance history and technological
prowess. The senior tranche priced at 83bps over SONIA*.
The issuance brings LendInvest's total Funds under
Management (FuM) to £4.67 billion. To date,
LendInvest has helped lend over £7.5 billion in property finance,
supporting property investors and homeowners across the UK in
securing competitive finance solutions.
BNP Paribas and Citi acted as Joint Arrangers, with JP
Morgan, Lloyds and National Australia Bank Limited, Citi and BNP
Paribas acting as Joint Lead Managers.
Rod Lockhart, Chief
Executive Officer of LendInvest, commented:
"I am
delighted to announce the completion of our sixth securitisation,
marking another milestone since we launched our RMBS programme in
2019.
"The strong response from investors and our
competitive pricing underscores the market's trust in LendInvest,
our expanding RMBS range with the inclusion of owner-occupied
loans, and our commitment to delivering value through high-quality
assets. This securitisation exemplifies our capability to meet
investor demand while continuing to grow responsibly."
The news is another example of market confidence in
LendInvest, coming on the back of a £1.5bn funding agreement with
JP Morgan and a renewed warehouse facility on improved terms with
HSBC, BNP Paribas and Barclays. The company also saw a record £250m
in BTL offers between August and October - a 270% improvement on
the same period last year.
Lockhart
added: "Despite macro uncertainty around, for example, what
the UK budget would bring, we're continuing to see really healthy
activity in the BTL market - as our 270% increase in BTL offers
year on year demonstrates."
LendInvest's RMBS programme provides institutional
investors with secured exposure to UK property assets, generating
steady monthly income from a diverse pool of high-quality mortgage
loans.
Each RMBS adheres to strict regulatory standards,
including risk retention and detailed loan disclosure, ensuring a
clear alignment of interests between LendInvest and its investors.
By retaining a portion of each transaction, LendInvest reinforces
its commitment to loan quality and to delivering dependable,
income-generating investments - while freeing up capital for new
lending.
--Ends--
Note to
Editors
*
SONIA: Sterling Overnight Index Average
Enquiries:
LendInvest via Teneo +44 (0)20 7353
4200
Rod Lockhart, Chief Executive Officer
Hugo Davies, Chief Capital Officer & Managing Director of
Mortgages
Chris Semple, Corporate
Communications
investorrelations@lendinvest.com
Panmure Liberum (NOMAD and Broker) +44
(0)20 7886 2500
Atholl Tweedie
David Watkins
Teneo (Financial PR) +44 (0)20 7353
4200
Ed Cropley
Olivia Lucas
Oscar Burnett