Jerrold Holdings agrees new commercial securitisation facility
The programme "Lakeside Asset Backed Securitisation 1 Limited" was lead arranged and is supported by HSBC, Lloyds Bank and Natixis and will run until August 2018.
The underlying mortgage loans will be drawn from across Jerrold Holdings' portfolio of commercial lending companies including Auction Finance, Bridging Finance, and Lancashire Mortgage Corporation.
Marc Goldberg, Jerrold Holdings Commercial Director, said "This new facility will allow us to continue to grow our short-term lending and buy-to-let operations, meeting the ever-growing demand for these products and services and helping to support both new and existing business customers, SMEs and property investors. In the last 12 months our new lending to British businesses and home-owners exceeded 724million."
Commenting on the completion, Gary Beckett, Jerrold Holdings Group CFO, said "The successful introduction of the Lakeside facility demonstrates the financial strength of Jerrold, the appeal of our business model and the demand that exists in our markets. It sits alongside the ?675million Charles Street Securitisation programme and the recently increased ?300million capital markets bond issuance, and will support the clear growth plans of the business."