Quantum Mortgages has completed its third public securitisation, taking funds raised through its Bletchley Park Funding programme beyond £800 million.

The specialist buy-to-let lender completed the transaction as it marked its fourth anniversary since launch.

The latest deal, Bletchley Park Funding 2026-1, was upsized from an initial target of £286 million to a final placement of £297 million.

The portfolio is backed by buy-to-let loans originated by Quantum Mortgages and secured against residential properties in England, Wales and Northern Ireland.

Quantum said the transaction attracted interest from a broad base of institutional investors, reflecting demand for UK buy-to-let mortgage assets and specialist lending platforms.

The senior Class A notes achieved final book coverage of 1.6 times and priced at SONIA +80bps. Quantum said appetite from credit funds and banks led to oversubscription across the mezzanine tranches, with Class C and D notes up to 4.5 times covered.

The transaction follows Quantum’s first securitisation in 2024 and its second in 2025. HSBC acted as lead arranger, with Citi and Lloyds Bank as joint lead managers.

The transaction was sponsored by AB CarVal, Quantum Mortgages’ primary funding partner.

Quantum said Bletchley Park Funding 2026-1 was the first UK buy-to-let RMBS to close after the implementation of the Renters’ Rights Act on 1 May 2026.

Jason Neale, chief executive officer at Quantum Mortgages, said: “This is another important step forward for us. Three securitisations in under two years show we are no longer a new entrant.

“We are now an established issuer in the capital markets, meaning we can confidently continue providing our intermediary partners with more flexible mortgage options for their clients.

“Investors know and appreciate what they’re getting with Quantum; Consistent origination, disciplined underwriting and assets that perform. The level of demand we’ve seen again underlines confidence in both our platform and the wider UK buy-to-let sector.”