Quantum Mortgages has completed its third public securitisation through its Bletchley Park Funding programme as the specialist buy-to-let (BTL) lender marks its fourth year in operation.
The latest transaction, Bletchley Park Funding 2026-1, raised £297m after being increased from an original target of £286m following strong investor demand.
Quantum said the securitisation is backed by BTL loans secured against residential properties across England, Wales and Northern Ireland.
The lender said the transaction attracted significant institutional investor interest, with the senior Class A notes achieving book coverage of 1.6 times and pricing at SONIA plus 80 basis points.
Demand was also strong across the mezzanine tranches, with Quantum reporting that Class C and D notes were up to 4.5 times oversubscribed.
The transaction follows Quantum’s previous securitisations completed in 2024 and 2025 and takes total funding raised through the Bletchley Park Funding programme beyond £800m.
HSBC acted as lead arranger on the deal, with Citi and Lloyds Bank serving as joint lead managers. The transaction was sponsored by AB CarVal, Quantum Mortgages’ primary funding partner.
Quantum said the securitisation also represents the first UK buy-to-let residential mortgage-backed securities transaction to complete following the implementation of the Renters’ Rights Act on 1st May 2026.
Jason Neale (pictured), chief executive officer at Quantum Mortgages, said: “This is another important step forward for us. Three securitisations in under two years show we are no longer a new entrant.
“We are now an established issuer in the capital markets, meaning we can confidently continue providing our intermediary partners with more flexible mortgage options for their clients.
“Investors know and appreciate what they’re getting with Quantum; Consistent origination, disciplined underwriting and assets that perform.
“The level of demand we’ve seen again underlines confidence in both our platform and the wider UK buy-to-let sector.”