Bluestone Mortgages has completed a £250m residential mortgage-backed securitisation (RMBS), which closed on 6 May. 

The completion marked Bluestone’s second RMBS, following its inaugural securitisation in August 2019, and refinances portfolios of loans held in two warehouse structures. 

The pool comprises owner-occupied and buy-to-let (BTL) mortgage loans, secured on properties in England, Wales and Scotland.

The transaction was arranged and distributed by Macquarie Bank and National Australia Bank and was advised by Dentons.

Bluestone Mortgages chief financial officer Andrew Voss says: “Despite challenging economic conditions, we are pleased to have completed this milestone transaction which has been supported by core investors.”

“This is our second securitisation to date and will be a significant step forward to ensure we are in a robust funding position to support the growing number of underserved customers we are seeing in the market,” Voss adds.