Lendco
Sector
Property Finance
Programme Size
£20m
Programme Establishment
October 2023
Programme Type
Subordinated Secured
Lendco is a private equity-backed specialist mortgage lender, focussing on UK buy-to-let and bridging mortgages. Since inception in 2018 Lendco has originated over £1.3bn of loans and experienced no capital losses due to a targeted approach on professional landlords. Loans are sold to private warehouse facilities where they sit until utilisation reaches a size (c. £350m) when it can be securitised in the public capital markets.
Lendco has executed three public securitisations to date and plans to be a programmatic issuer in the securitisation market. The £20 million programme was established in October 2023 alongside a £2.5m first issue. The programme is a holdco-style facility whereby proceeds can be used as equity capital in the private warehouses. Programme security predominantly comprises the high-quality cash flows derived from Lendco’s residual interests in its securitisations.
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