Charter Court Financial Services (CCFS), operating under its trading name of Precise Mortgages, plans to issue £224.75 million ($352.38 million) of securities backed entirely by buy-to-let residential mortgage loans, according to a presale report from Moody’s Investor Service.

Precise Mortgage Funding 2015-2B is the issuer’s first fully buy-to-let deal, which is a British term that describes properties purchased in order to be rented out. The issuer’s two previous transactions are backed by a mixed pool of residential mortgages that included non-conforming, owner-occupied and buy-to-let mortgage loans.  

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