The £230 million Fitch and S&P rated transaction brings CCFS’ total issuance since December 2013 to over £600m.
All loans in the transaction have been originated by Precise Mortgages in the last 12 months, are income verified, and affordability has been stressed to a minimum of the higher of the current or reversion rate plus at least 2%, and more recently 3%.
Buy to let loans have a minimum interest coverage ratio of 125% with the average being 154%.
Since origination, none of the firm's loans have ever been in arrears.
