LendInvest Closes £285M UK Mortgage Securitisation

FINAL

November 7 2024

LendInvest [Mortgages] Completes Sixth Securitisation of £285 Million  UK Prime Buy-to-Let and Owner-Occupied Mortgage Loans

LendInvest plc (LSE: LINV)("LendInvest" or the "Company"), the UK's leading platform for property finance and the parent company of LendInvest BTL Ltd and LendInvest Loans Limited, today announces the successful completion of its sixth securitisation in prime UK property loans originated by its Mortgages division.

The £285m oversubscribed transaction, "Mortimer 2024-Mix Plc" received Aaa(sf) and AAA(sf) ratings from S&P Global Ratings and Moody's, respectively, for 86.5% of the loan pool.

This transaction marks LendInvest's sixth consecutive annual securitisation since launching the programme in 2019, and includes its first securitisation of owner-occupied loans since launching into this growing market in 2023.

The securitisation delivered market-leading pricing supported by 17 investors - demonstrating continued confidence in LendInvest-originated collateral, a testament to the Company's underwriting quality, performance history and technological prowess. The senior tranche priced at 83bps over SONIA*.

The issuance brings LendInvest's total Funds under Management (FuM) to £4.67 billion. To date, LendInvest has helped lend over £7.5 billion in property finance, supporting property investors and homeowners across the UK in securing competitive finance solutions.

BNP Paribas and Citi acted as Joint Arrangers, with JP Morgan, Lloyds and National Australia Bank Limited, Citi and BNP Paribas acting as Joint Lead Managers.

Rod Lockhart, Chief Executive Officer of LendInvest, commented:
"I am delighted to announce the completion of our sixth securitisation, marking another milestone since we launched our RMBS programme in 2019.

"The strong response from investors and our competitive pricing underscores the market's trust in LendInvest, our expanding RMBS range with the inclusion of owner-occupied loans, and our commitment to delivering value through high-quality assets. This securitisation exemplifies our capability to meet investor demand while continuing to grow responsibly."

The news is another example of market confidence in LendInvest, coming on the back of a £1.5bn funding agreement with JP Morgan and a renewed warehouse facility on improved terms with HSBC, BNP Paribas and Barclays. The company also saw a record £250m in BTL offers between August and October - a 270% improvement on the same period last year.

Lockhart added: "Despite macro uncertainty around, for example, what the UK budget would bring, we're continuing to see really healthy activity in the BTL market - as our 270% increase in BTL offers year on year demonstrates."

LendInvest's RMBS programme provides institutional investors with secured exposure to UK property assets, generating steady monthly income from a diverse pool of high-quality mortgage loans.

Each RMBS adheres to strict regulatory standards, including risk retention and detailed loan disclosure, ensuring a clear alignment of interests between LendInvest and its investors. By retaining a portion of each transaction, LendInvest reinforces its commitment to loan quality and to delivering dependable, income-generating investments - while freeing up capital for new lending.

--Ends--

Note to Editors

* SONIA: Sterling Overnight Index Average

Enquiries:

LendInvest via Teneo    +44 (0)20 7353 4200
Rod Lockhart, Chief Executive Officer                                                   
Hugo Davies, Chief Capital Officer & Managing Director of Mortgages
Chris Semple, Corporate Communications                                                                                  
[email protected]                       

Panmure Liberum (NOMAD and Broker)   +44 (0)20 7886 2500
Atholl Tweedie
David Watkins

Teneo (Financial PR)   +44 (0)20 7353 4200
Ed Cropley
Olivia Lucas        

Oscar Burnett