Specialist buy-to-let (BTL) lender Quantum Mortgages has completed its first-ever public securitisation made up of £234m of UK loans.
The securitisation transaction is called Bletchley Park Funding 2024-1, with the senior tranche priced at 0.87% over SONIA, which the lender said was “remarkably tight pricing”.
The firm said that the bonds were “oversubscribed” and the deal showed the “ongoing confidence” in the UK’s BTL demand as well as strong investor demand.
The lender announced earlier this year that it was planning its first securitisation in the summer, and says it is planning to “go on to become a programmatic and sustained issuer in the capital markets”.
Jason Neale (pictured), managing director at Quantum Mortgages, said: “We are delighted to have completed our debut securitisation, especially considering the difficult conditions for the buy-to-let market since we launched as a lender.
“This successful transaction is testament to the exceptional quality of assets we have generated and the hard work of the entire Quantum Mortgages team who deliver our unique proposition to intermediaries and their landlord clients.”
Gautam Pandey, capital markets and funding director at Quantum Mortgages, added: “Our inaugural securitisation garnered widespread interest and strong support from a diverse range of investors. The overwhelming response, without the need for a new issuer premium, is a testament to the confidence the market has in our vision and strategy.
“This achievement not only marks a significant milestone for us but boosts our plans to launch a range of innovative products in the market. Furthermore, it positions us strongly for future funding opportunities, setting a solid foundation for our ongoing growth and success.”
Quantum Mortgages was launched in 2022 as an intermediary-only specialist lender, focusing on the needs of professional landlords.
The firm hired Wes Friedel as its bridging head and it mooted entering the bridging sector later this year.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
