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Together with £522 million commercial and residential securitization

Together, they are priced securitizations backed by commercial and mortgage loans of £522.2 million.

The specialist lender says the deal, called CRE5, is the fifth public small balanced securitization covering commercial, residential and complexes in the UK, Wales and Scotland.

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The portfolio is 98%, consisting of the first mortgage, with the rest coming from a second billing loan, the stock market statement said. It adds that 33.5% of borrowers underlying the package are self-employed.

Gary Beckett, Group Managing Director and Chief Executive Officer of the Department of Finance, said:

“Issuing two public mortgage-backed security transactions and two private transactions together over the course of two months will raise or refinance £2.4 billion since the start of the calendar year, highlighting the quality of the loan book and ongoing support from investors.”

The transaction will be added to the group's existing 12 public mortgage assistance securitizations, seven private securitizations, senior secured notes and revolving credit lines.

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