Belmont Green opens 2022 with £400m securitization

Belmont Green, parent company of Vida Homeloans, issued its first European residential mortgage-backed security (RMBS) of the year.

Named Tower Bridge Funding 2021-2, it has raised £400million through owner-occupied mortgages and lettings.

He was backed by Santander, Barclays and Bank of America.

Attracting more than £1 billion in demand, Belmont Green managed to price its senior notes 72 basis points above the overnight index average for the pound.

It adds that it has become the first UK issuer to publicly release an ESG questionnaire, as well as to disclose the ratings of energy performance certificates in its portfolio.

Belmont Green Managing Director Anth Mooney said: “This latest RMBS deal and the resulting lower funding costs enable Vida to help more customers and, over the longer term, support our ambitions to growth as we strive to obtain authorization as a bank from the prudential regulator. .

“We welcome the growing investor attention to ESG issues, as they are a fundamental consideration in how we manage and grow the business.”

And Chief Financial Officer John Rowan said: “The strong pricing and support of our latest securitization transaction clearly demonstrates investor recognition of the strength of our mortgage portfolio and business.

“We are pleased to welcome more investors to the platform and are encouraged by the strong demand for investment in Belmont Green transactions.”

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