LendInvest completes £300m buy-to-let mortgage securitisation
LendInvest plc, a UK-based buy-to-let mortgage lender, successfully concluded its eighth residential mortgage-backed securitisation, Mortimer 2026-1 Plc, on Thursday, the company announced in a press release. The deal, backed by a £265 million portfolio of 1,240 prime buy-to-let mortgage loans, attracted strong institutional investor demand with Class A, B, and C notes each receiving 2.5, 3.8, and 4.4 times the issued amount, respectively.
The Class A notes, rated AAA by Fitch and Morningstar DBRS, were priced at 82 basis points over the SONIA rate, outperforming the 81 basis points achieved in the previous Mortimer 2025-1 transaction. The securitisation's weighted average cost of funding decreased to 88 basis points, down from 92 basis points in the previous deal.
Mortimer 2026-1 marks LendInvest's first UK Simple, Transparent and Standardised securitisation, which can offer preferential capital treatment to certain investors. All 1,240 loans in the portfolio were performing well as of the cut-off date, with a weighted average loan-to-value ratio of 73.23% and a weighted average rental cover of 177.25%.
LendInvest's CEO, Rod Lockhart, highlighted the strength of the company's access to institutional capital markets funding following the successful completion of this eighth Mortimer securitisation. As of March 31, 2026, LendInvest reported £5.48 billion of funds under management and £3.82 billion of platform assets under management.
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