LendInvest securitsation of BTL mortgages

Second RMBS transaction, Mortimer BTL 2020-1, £285 million of UK prime Buy-to-Let (BTL) mortgage loans. It received an AAA rating (for 85% of the pool) from Fitch and Standard & Poor’s, the global credit rating agencies.

The senior tranche was priced at 1.07% over SONIA; 23bps tighter than its inaugural deal, which, according to the issuer, is "signalling confidence in our offer". An alternative reason might be the desperation of yield-oriented investors.