Get notifications in real-time for staying up to date with content that matters to you.
Specialist lender Bluestone Mortgages has closed a $300 million RMBS transaction, taking the company’s capital markets issuances to $750 million over the last year.
In a strong market, the Sapphire XVII deal was well received by investors, with over-subscription experienced across the structure.
A total of 18 investors participated in the transaction, with over half of the interest coming from offshore entities.
The portfolio is in line with past deals and has a conservative weighted average loan-to-value ratio (LVR) of 68.6 per cent and only 16.8 per cent interest-only loans.
It brings the group’s total capital markets issuances for the past 24 months to just shy of $1 billion: over $950 million.
Bluestone said that the transaction correlates with a growing market presence for the brand, which includes its award as winner of the specialist lending category of the Third Party Lending Report: Non-bank Lenders.
The group’s Asia Pacific CEO, Campbell Smyth, commented: “Bluestone Mortgages is an established provider of attractive financial alternatives to SMEs and the credit-impaired. These products are in tune with specific market needs and evolving end-user requirements. This approach continues to directly resonate with thousands of Aussies, who can now access a suite of financial solutions that supports their needs, without discrimination based on trading history or credit rating. Furthermore, this strategy has escalated the trajectory to meet the recent billion-dollar milestone and provides the foundation for future efforts geared to realise the two-billion milestone.
“We encourage brokers to embrace specialist lending as part of their businesses, and in turn create stickier relationships and not leave revenue on the table.”
[Related: Specialist lender surpasses $1bn milestone]
PROMOTED CONTENT
The three aggregators have officially joined Loan Market Group to...
The broker association has called on the Senate to ensure that an...
Non-bank lender Better Mortgage Management has launched a new loa...
The number one magazine for mortgage brokers
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Do you find that lender valuations frequently come in below 'independent' market valuations?
