MT Finance and Hampshire Trust Bank announce securitisation milestones

MT Finance has announced its inaugural buy-to-let securitisation while Hampshire Trust Bank has completed its first mortgage securitisation.

MT Finance has announced the successful closing of the public buy-to-let securitisation Pierpoint BTL 2024-1, the first public securitisation of MT Finance originated buy-to-let collateral.

MT Finance entered the buy-to-let mortgage market in June 2022 and rolled out its buy-to-let range to all intermediaries across England and Wales in March 2023.

Hampshire Trust Bank has also announced the completion of its first mortgage securitisation, Winchester No.1, a £300 million transaction. The securities are backed by a portfolio of high-quality buy-to-let mortgage loans originated by the Bank. 

Gareth Lewis, managing director at MT Finance, commented: "The successful closing of Pierpoint BTL 2024-1 represents a pivotal moment for MT Finance. Achieving a ‘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, director and head of buy-to-let at MT Finance said: "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."

Matthew Wyles, CEO of Hampshire Trust Bank, added: “This is an important milestone in the development of HTB. Our first mortgage securitisation is a critical step in further diversifying our funding sources, bolstering our capital base and providing a sound platform for our ongoing profitable growth. It was particularly pleasing to see such strong demand from investors.”