Keystone Property Finance has completed a £400m securitisation of buy-to-let loans.

The specialist buy-to-let lender says its Hops Hill No.5 package of loans, which included £80m of pre-funding, saw “significant oversubscription” across the entire capital stack.

The Class A AAA notes priced at Sonia-plus-73-basis-points and was two times oversubscribed.

The lender adds: “The pricing and demand reflect both investor confidence in the UK BTL sector and the high quality of Keystone’s underlying portfolio.”

This package of loans is the firm’s fifth securitisation since its first deal in January 2021.

Keystone Property Finance managing director Elise Coole says: “The strong investor demand reflects both the consistent quality of our lending and the strength of the Hops Hill programme.

“With every deal, we’ve demonstrated strong performance, robust underwriting and strong credit quality, giving investors confidence in our proposition and what we stand for as a lender.”