Bluestone Mortgages has announced the completion of a £250m residential mortgage-backed securitisation (RMBS), which closed on 6 May.

This is Bluestone’s second RMBS, following its inaugural securitisation in August 2019, and refinances portfolios of loans held in two warehouse structures. The pool comprises owner occupied and buy-to-let mortgage loans, secured on properties in England, Wales and Scotland.

The securitisation represents a significant milestone following a two and half year absence from the market due to Covid-19.

The transaction was arranged and distributed by Macquarie Bank and National Australia Bank and was advised by Dentons.

Andrew Voss, chief financial officer at Bluestone Mortgages, said: “Despite challenging economic conditions, we are pleased to have completed this milestone transaction which has been supported by core investors.

“This is our second securitisation to date and will be a significant step forward to ensure we are in a robust funding position to support the growing number of underserved customers we are seeing in the market.”