West One Loans Parent Enra Specialist Finance Completes £320m Securitisation

Posted by West One on 25th February 2025 -

Enra Specialist Finance, the parent company of specialist lender West One Loans, has completed its sixth securitisation.

The issuance, called Elstree 2025-1, comprises £320m of first charge and buy-to-let mortgages originated by West One.

The proceeds from the transaction will help Enra, and subsidiary West One, increase its lending as part of its ambitious growth plans.

The transaction was oversubscribed, attracting a wider investor base, welcoming 6 new investors to the program.

Elstree achieved the tightest Class A print for a publicly marketed UK BTL/RMBS since 2021 – a testament to the strength of its platform and the confidence of the market. 

Previous Elstree issuances continue to display excellent credit performance despite the challenging macro-economic conditions for borrowers over recent years. 

Emily Gestetner, CFO, Enra Specialist Finance added: “We’re delighted to have closed our sixth securitisation, and inaugural pure 1stcharge transaction, cementing Enra’s reputation as a reliable repeat issuer of high quality RMBS. 

“The fact the issue was oversubscribed and achieved market leadingpricing, is a testament to the quality of our underwriting and the robust performance of our loan book.

“Importantly, this deal gives us the firepower to ramp up our lending as we execute our ambitious growth plans for the year ahead."

Enra's lending business West One has £1.75bn of annual origination. West One is a specialist lender offering a range of products including bridging, development finance, residential, BTL and second charge loans.