Santander UK is readying an investor-placed securitization of residential mortgage loans, according to rating agency presale reports.

The £1.35 billion equivalent of sterling- and dollar-denominated notes will be issued via the bank’s Holmes Master Issuer PLC, increasing its total size to £15 billion from £13.2 billion. The notes will be indirectly collateralized by a pool of first-ranking mortgages secured on properties in England, Scotland, and Wales. Santander UK originated all of the loans in the master trust.

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