Hogan Lovells advise Enra Specialist Finance on its first public securitisation with £268m portfolio

London, 5 November 2020 – International law firm Hogan Lovells has advised UK mortgage lender Enra Specialist Finance on its first RMBS. The £268m transaction is backed by a portfolio of UK mortgages. The pool was a combination of 68% second-lien mortgages and 32% first-lien buy-to-let mortgages, all originated under Enra's lending brand West One Loans, and some second charge mortgages.

For its initial securitisation, named Elstree Funding No.1, Enra secured strong demand from pre-placement orders. The deal was launched and priced within a week with strong uptake for bonds at all levels.

The Hogan Lovells team was led Structured Finance partner Julian Craughan with support from senior associate Aarti Rao and associate Bonnie So.  

Commenting on the deal, Julian Craughan said: "We were delighted to have worked with Enra on its first public RMBS. As an experienced originator they moved very swiftly to complete this transaction once they had decided that it was time to tap the public markets."

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