LendInvest Completes Second Securitization Amid Turbulent Market

UK property lender, LendInvest, has completed a £285 million securitization of prime “buy-to-let” mortgages; it received a AAA rating for 85% of the loan pool from Fitch and S&P Global Ratings; the company said the deal was oversubscribed and that it took just six days to price the transaction after opening investor discussions; this is the second securitization for LendInvest, having closed a £259 million deal in June 2019; Rod Lockhart, CEO of LendInvest, said, “It has been a truly unprecedented and unusual environment to agree and settle a transaction as substantial as this for LendInvest – let alone the whole UK mortgage market…The circumstances mean it’s all the more rewarding to have returned to the RMBS market as emphatically as we have done”. Altfi

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