Keystone Property Finance has successfully completed its third securitisation, Hops Hill No.3 plc.

The deal contains £385 million-worth of buy-to-let loans originated by Keystone. It is part of a forward-flow agreement with a listed investment firm which is managed by TwentyFour Asset Management.

The specialist buy-to-let lender said there was strong demand for Hops Hill No.3, with the AAA notes achieving a price of Sonia +115 basis points.

The deal is the first buy-to-let securitisation in some time to include an element of pre-funding – meaning a proportion of the issue includes loans currently in the pipeline.

Elise Coole, managing director of Keystone Property Finance, said: “Keystone has firmly established itself as one of the go-to lenders in the specialist buy-to-let market over the past four years – and this securitisation is the next milestone in our ongoing evolution.

“It is great to see the securitisation markets active and strong demand for deals from a wide investor base. This is a major vote of confidence in everything we are doing here to ensure we offer a leading proposition to brokers and landlords whilst lending sensibly.

“What we have now is added firepower to continue that good work and to give to brokers and landlords more of what they want and need at competitive prices.”