First Active to raise £197m

First Active has introduced its third mortgage securitisation programme and aims to raise £197 million (€250 million) from the…

First Active has introduced its third mortgage securitisation programme and aims to raise £197 million (€250 million) from the sale of mortgages to institutional investors. Securitisation involves grouping together a number of mortgages and using them as security for raising long-term finance. The move releases funds tied up in mortgage loans and the new funds raised can then be lent on to new mortgage borrowers.

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