LiveMore has successfully priced and completed its inaugural securitisation, Exmoor Funding 2024-1.
The simple, transparent and standardised (STS) securitisation totals £208.1 million of prime and near prime owner-occupied mortgage loans. The transaction was also successfully assessed for the Capital Requirements Regulation (CRR) and Liquidity Regulation (LCR).
The residential mortgage backed security (RMBS) transaction is backed by retirement interest-only (RIO) mortgages and standard mortgages – both interest-only and repayment.
The transaction is covered by LiveMore’s Social Bond Framework and is structured to comply with the International Capital Market Association’s (ICMA) Social Bond Principles.
Simon Webb (pictured), LiveMore’s managing director of Finance and Capital Markets, said: “This is a notable transaction, not only because it demonstrates the significant growth of LiveMore over recent years, but it clearly shows market confidence in later life lending as a financially sound investment.
“The securitisation plays a key part in LiveMore’s continuing growth and expansion as we work to fill the gap caused by the shortfall in quality mortgage finance for later-life borrowers.”