Pepper Money has successfully raised £545 million through the capital markets as part of its ongoing securitisation programme.
The residential mortgage-backed securities (RMBS) transaction, issued under the Polaris programme, securitised a pool of UK residential mortgage loans, comprising a mix of owner-occupied and buy-to-let mortgages.
Recent issuances have attracted strong demand from a broad range of investors. Funding from this transaction will support Pepper Money’s continued lending and growth in the mortgage market, helping more under-served borrowers achieve their homeownership aspirations.
Pepper Money offers a range of specialist mortgage products in the UK, including residential, buy-to-let and second charge lending, primarily distributed through intermediaries.
Andy Voss, CFO at Pepper Money, said: "We are delighted to have successfully closed our third RMBS transaction of the year, particularly against a backdrop of ongoing market volatility and geopolitical uncertainty. As we continue to support borrowers under-served by traditional lenders, this funding will help further our mission to drive greater financial inclusion across the UK housing market.
“The transaction attracted strong interest from a broad base of investors, reflecting the strength of our proposition and confidence in our platform. It also marks another important milestone in the growth of our capital markets programme, supporting our ambition to be a consistent, through‑the‑cycle issuer."
