Specialist lender MT Finance has closed its first public buy-to-let (BTL) securitisation, Pierpoint BTL 2024-1.
The transaction was arranged by JPMorgan, and MT Finance said it signified a milestone for the lender. The transaction comprised BTL loans originated by the lender.
Its BTL proposition was launched to the whole of the market last year.
Two independent credit rating agencies, Fitch Ratings and DBRS Morningstar, conducted an operational review of the lender as part of the securitisation process.
The firms examined the lender’s operations from origination, underwriting, servicing and risk management.
The lender said the results were “impressive” and reflected its commitment to deliver sustainable growth.
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Gareth Lewis, managing director of MT Finance, said: “The successful closing of Pierpoint BTL 2024-1 represents a pivotal moment for MT Finance. Achieving an ‘AAA’ rating on the Class A Notes and the lowest possible stress applied to new originators coming to the public markets for the first time from these rating agencies validates our strategic vision.
“Furthermore, the strong market reception demonstrates investor confidence in our business model and positions us strongly for continued growth.”
Marylen Edwards (pictured), director and head of BTL at MT Finance, added: “Since launching our buy-to-let proposition, we have focused on building a sustainable, high-quality lending operation that maintains the service excellence MT Finance is known for. The remarkable feedback we received from the two rating agencies reflects our commitment to robust processes, thorough underwriting, and prudent risk management.
“This securitisation provides a strong platform for our next phase of growth while ensuring we continue to support investors with competitive, flexible lending solutions.”
