Quantum Mortgages completes £297M securitisation, fourth-anniversary milestone
What's the deal? Quantum MortgagesDealroom has a profile for this one. Try Dealroom →, a specialist buy-to-let lender, has completed its third public securitisation through its Bletchley Park Funding programme, raising £297M — up from an original target of £286M after strong investor demand.
The transaction, Bletchley Park Funding 2026-1, is backed by buy-to-let loans secured against residential properties across England, Wales, and Northern Ireland. It takes total funding raised through the programme beyond £800M.
HSBCDealroom has a profile for this one. Try Dealroom → acted as lead arranger, with CitiDealroom has a profile for this one. Try Dealroom → and Lloyds BankDealroom has a profile for this one. Try Dealroom → as joint lead managers. AB CarValDealroom has a profile for this one. Try Dealroom →, Quantum's primary funding partner, sponsored the deal.
Senior Class A notes achieved book coverage of 1.6 times and priced at SONIA plus 80 basis points. Mezzanine tranches saw even stronger appetite, with Class C and D notes up to 4.5 times oversubscribed.
Why now? Quantum is marking its fourth anniversary and has now completed three securitisations in under two years — a pace that chief executive officer Jason Neale says signals the firm's shift from new entrant to established issuer.
The deal also carries a regulatory milestone: it is the first UK buy-to-let residential mortgage-backed securities transaction to complete after the Renters' Rights Act took effect on May 1, 2026.
What could go wrong? The Renters' Rights Act introduces new tenant protections that could affect landlord economics and, by extension, the buy-to-let loans underpinning securitisations like this one. How investors price that regulatory risk over time remains to be seen.
The signal: Quantum Mortgages has surpassed £800M in total securitisation funding in under two years while still at what Dealroom classifies as the "breakout" growth stage — a rapid trajectory for a lender that only launched four years ago. The strong backing from heavyweight corporate investors such as AB CarVal, HSBC, Citi, and Lloyds Bank suggests the capital markets view Quantum's manually underwritten, broker-focused model as a credible counterweight to the automation-first strategies dominating the sector.
Read more: The Intermediary
