Precise Mortgages has launched a £205m securitisation – its fourth issue.
Ratings agency Fitch says 53 per cent of the loans are classed as prime buy-to-let loans, with the remaining 47 per cent classed as near-prime residential or buy-to-let.
Precise Mortgages managing director Alan Cleary says: “Having a diversified funding model enables us to continue with our strategy of helping borrowers underserved by high-street lenders.
“We recently became a bank, which gives us an additional funding source. We believe this will lead to Precise Mortgages becoming the specialist lender of choice for the intermediary market.”
The lender launched a £230m securitisation in December and has now securitised £800m-worth of loans since 2013.
Separately, Paragon Mortgages revealed it is planning its fifth securitisation in 18 months.
Ratings agencies Moody’s and Fitch have confirmed that the pool of securitised loans will be comprised entirely of UK prime buy-to-let mortgages.
The lender is currently meeting with potential investors and hopes to agree pricing this week.
While the pool size has not yet been agreed, Paragon has the power to add a further £66m of loans to the pool as long as they are written before 31 August.