The securitisation of 2,096 unregulated residential buy-to-let mortgages secured on properties in England, Wales and Scotland was a first for the intermediary-only mortgage lender.

The deal of £200m class A notes priced at 110 bps above Sonia were privately marketed to investors and, as a result of a strong order book, was made public on 17 September.

The A notes were distributed through Lloyds Bank, Bank of America and Barclays Bank with the A to E notes fully pre-placed. X notes and residual certificates were also placed with investors, which meant the £330 million transaction was fully subscribed at pricing.

The Mortgage Lender said the success of the securitisation came following its strong performance throughout the Coronavirus pandemic when it delivered consecutive months of record buy-to-let applications.

Peter Beaumont, the firm’s chief executive said: “The first buy-to-let securitisation of assets originated and serviced by The Mortgage Lender marks a significant milestone for us.

“To generate positive interest from investors in the current climate is testament to the quality of the loans we are originating and the quality of the team, who have worked tirelessly to support our introducers and customers.

“Over the last six months we’ve gained market share in buy to let and look forward to being a regular originator of securitised assets moving forward.

“We are also investing in our capability through the expansion of our customer services team to ensure we continue to provide the support our partners and our customers need over the coming years.”