The Mortgage Lender completes its first AAA-rated securitisation

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The Mortgage Lender’s first UK mortgage-backed securitisation of residential assets has completed for a total notes issuance of £238.5m.

The oversubscribed deal included £202.2m of note (equivalent to 87% of the pool) rated Aaa/AAA by Moody’s and DBRS.

The AAA-rated tranche was priced at 110bps.

Peter Beaumont (pictured), The Mortgage Lender’s deputy chief executive, said: “We are very proud to have completed our first UK residential mortgage backed securitisation which has achieved a better than expected price in an uncertain pre-Brexit climate.

“Our transaction was oversubscribed and a clear sign of considerable investor demand for The Mortgage Lender’s securitised assets. It also proves The Mortgage Lender’s origination and funding model is secure and in demand.

“This is a milestone for The Mortgage Lender and we look forward to being a regular originator of securitised assets moving forward.”

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