Specialist lender Pepper Money has completed its largest securitisation to date, at £425m.

This is the third securitisation issued by Pepper Money under the Polaris banner, The deal comprised entirely of first charge mortgages and is separate to the three Castell securitisations, which have been completed on Optimum Credit second charge mortgages.

Pepper Money chief executive Laurence Morey says: “We’ve seen such a strong appetite from investors for this securitisation, which is the largest deal we have completed at Pepper Money. It’s great testament to the high quality assets that we are able to generate thanks to our exceptional team, who have remained focused on delivering great outcomes for customers combined with responsible lending throughout the pandemic.

“We are in a very exciting position now, where we can plan further growth of our lending to help create a more inclusive mortgage market and to continue to generate value for our stakeholders and investors. We’re already putting this into action, with new products to help a wider range of customers, such as the launch of our cashback offering designed to help people who want to consolidate debts.”