LendInvest plc has completed its eighth residential mortgage-backed securitisation under its Mortimer programme, marking the first deal in the series to qualify as a UK Simple, Transparent and Standardised (STS) securitisation.
Mortimer 2026-1 Plc raised £300 million, combining a £265 million portfolio of buy-to-let mortgage loans originated and serviced by LendInvest BTL Limited with £35 million of pre-funding. The transaction is backed by 1,240 UK prime buy-to-let mortgage loans, all performing at the cut-off date.
Portfolio metrics showed a weighted average current loan-to-value ratio of 73.23% and a weighted average rental cover of 177.25%. The weighted average cost of funding came in at 88 basis points, down from 92 basis points on Mortimer 2025-1.
Institutional demand was strong across all tranches. Class A notes were subscribed 2.5 times, Class B notes 3.8 times and Class C notes 4.4 times. The Class A notes, rated AAA by both Fitch and Morningstar DBRS, were priced at 82 basis points over SONIA, compared with 81 basis points on the prior deal.
Rod Lockhart, chief executive officer of LendInvest, said the completion demonstrates the strength of the firm's access to institutional capital.
The Mortimer programme has provided LendInvest with access to institutional capital markets funding since its first transaction in 2019. The new STS qualification offers preferential capital treatment for certain investors and is designed to make securitisations easier to assess.
As of 31 March 2026, LendInvest reported funds under management of £5.48 billion and platform assets under management of £3.82 billion. The company operates across buy-to-let, bridging and development finance in the UK property sector.
