Foundation Home Loans completes fourth securitisation

The securitisation is Foundation's third of 2019 and its first Sterling Overnight Interbank Average Rate (SONIA) trade.

Foundation says the trade attracted an order book of over £850m, with all tranches of the £300m transaction at least two times over-subscribed. There were 31 orders in total with over a third of the book coming from non-UK investors.

The lender recently secured £750m in new and renewed committed warehouse funding, allowing it to fulfil its planned originations into 2021.

Hans Geberbauer, chief executive of Foundation Home Loans, said: “To be announcing our third securitisation of 2019 – our fourth overall under the Twin Bridges platform – is incredibly satisfying and goes to show our rate of origination growth, and the demand for a quality mortgage book.

"We are also acutely aware that these are challenging times for the market and therefore the confidence our investors are showing in our proposition is testament to the quality of our operation and the strength of our Treasury team.

"The further good news is that, regardless of future events, we now have the committed warehouse funding capacity to deliver our ambitious lending growth through to 2021. It is an exciting time for Foundation and we are just getting started.”