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Santander launches £775m securitisation

Santander has launched a £775m securitisation backed by prime residential mortgage loans.

The notes, which are denominated in US dollars, are the 21st issuance from the Holmes master trust, which totals around £14.8bn of prime owner-occupied mortgages originated by the bank.

The average loan-to-value of the loans within the pool of mortgages is around 68.7 per cent and the proportion of loans in arrears of 90 days or more is 1.57 per cent.

Fitch Ratings has given the transaction a AAA rating.

The transaction is Santander’s second of 2012, following a £2.97bn issue in January.


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