Residential Mortgage Backed Securities Nov 2023

Shawbrook Bank Limited has today, 21 November 2023, announced the successful completion of its Lanebrook Mortgage Transaction 2023-1. The £401m transaction (£405m including excess spread notes) represents the fourth securitisation of Shawbrook-funded buy-to-let loans originated and serviced by The Mortgage Lender ( TML ) under the Lanebrook shelf, and our third transaction to carry the Simple, Transparent and Standardised ( STS ) label. The £200m Class A1 tranche, which has a weighted average life just under 3 years, priced at 118 bps above Sonia on the back of strong investor demand, with all other tranches being retained.

The securitised pool is comprised of 2,255 buy-to-let mortgage loans secured against properties in England, Wales and Scotland. The transaction will support the Group's targeted growth trajectory, funding strategy and capital management.

Dylan Minto, Chief Financial Officer commented:

"We are delighted to have completed this transaction as it further supports our funding diversification strategy and maintains Shawbrook's position as a solid repeat issuer into the debt capital markets. The success of this transaction was acknowledged by the strong interest from investors resulting in the Class A1 notes being significantly oversubscribed. This is Shawbrook's eighth RMBS transaction to date and once again illustrates our track record of high-quality RMBS issuances. Shawbrook has issued from its three origination platforms over the past 5 years: The Mortgage Lender (under the Lanebrook shelf for buy-to-let loans and Holbrook shelf for owner-occupied loans), Bluestone Mortgages (under the Ealbrook shelf for owner-occupied loans) and Shawbrook Bank (under the Shawbrook shelf for buy-to-let loans)."