Belmont Green, which trades as Vida Homeloans, has announced its third residential mortgage-backed security (RMBS) of 2024, Tower Bridge Funding 2024-3.
The securitisation has raised £300m to help drive lending growth across the specialist residential and buy-to-let markets.
This is the 13th RMBS transaction from Belmont Green and was supported by Barclays, BNP Paribas, Macquarie Group, and NatWest.
It attracted nearly £1bn of demand from UK and European investors, with notes being oversubscribed by between 3.2x and 5.6x across the tranches on offer.
John Rowan, CFO at Belmont Green, said: “I am delighted that we have seen another successful Tower Bridge issuance, the support from our existing and new investor base is much appreciated. The market continues to be very supportive of the specialist lending sector in the UK.”
Anth Mooney (pictured), Belmont Green’s CEO, added: “This transaction continues to demonstrate the strong investor confidence in our business as we prepare to become a bank. The high level of interest we’ve seen reflects the strength of our loan book and our ability to consistently deliver in the specialist mortgage market.
“This additional funding will enable us to keep supporting brokers with tailored solutions for customers, helping more people find a place to call home.”
