Specialist mortgage lender, Pepper Money, has closed its largest securitisation to date.
The £425m securitisation, which is the third and largest deal issued by Pepper Money under the Polaris banner, was comprised entirely of first charge mortgages and is separate to the three Castell securitisations, which have been completed on Optimum Credit second charge mortgages. The deal received very strong support from a wide range of investors.
Laurence Morey, CEO at Pepper Money, said:
“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. Over the coming weeks and months, we will also take our proven approach to robust and inclusive lending to new propositions, including affordable home ownership. Watch this space, it’s going to be an exciting time for Pepper Money.”