Belmont Green, which trades as mortgage lender Vida Homeloans, has announced its third residential mortgage-backed security (RMBS) of 2024, Tower Bridge Funding 2024-3.
The deal has raised £300m to support Vida Homeloans’ lending growth across specialist residential and buy-to-let (BTL) markets to support complex mortgage needs.
This is the 13th RMBS transaction from Belmont Green and was supported by Barclays, BNP Paribas, Macquarie Group, and NatWest.
The group said the deal attracted nearly £1bn of demand from investors in the UK and Europe, and notes were oversubscribed by between 3.2 times and 5.6 times across the tranches on offer.
Belmont Green said the transaction would strengthen the lending capacity of Vida Homeloans and support its growth plans.
New deal raises £300m to support the mortgage lending specialist in providing brokers and their customers with solutions to complex mortgage needs.
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John Rowan, CFO of Belmont Green, said: “I am delighted that we have seen another successful Tower Bridge issuance, the support from our existing and new investor base is much appreciated. The market continues to be very supportive of the specialist lending sector in the UK.”
Anth Mooney (pictured), CEO of Belmont Green, added: “This transaction continues to demonstrate the strong investor confidence in our business as we prepare to become a bank. The high level of interest we’ve seen reflects the strength of our loan book and our ability to consistently deliver in the specialist mortgage market.
“This additional funding will enable us to keep supporting brokers with tailored solutions for customers, helping more people find a place to call home.”
This month, Vida Homeloans made adjustments to its products with a series of mortgage rate cuts.
