"The securitisation is a great start to the year, and the culmination of significant work through 2021 to mature and industrialise our funding."
The transaction comprises a £285m portfolio of first charge buy-to-let and prime second-charge mortgages, originated under Enra’s lending brand West One Loans.
Enra issued its inaugural transaction in November 2020 and signalled its intention to become a programmatic issuer.
Adrian Scragg, director of Funding Solutions, said: “I am proud of the fantastic outcome we have achieved with Elstree 2. The high level of investor engagement and strong execution are testament to the strength and maturity of the business, and the high credit quality of the loans it originates. I am already looking forward to the next issuance from our programme.”
Danny Waters, CEO of Enra, added: “The securitisation is a great start to the year, and the culmination of significant work through 2021 to mature and industrialise our funding. In the last twelve months we have attracted new warehouse partners, established a flow agreement, grown our lending significantly and delivered on our promise to become a repeat RMBS issuer. The business is now extremely well placed to scale up further in 2022.”
