A new U.K. non-conforming mortgage lender is launching its first-ever securitization in a transaction that will produce up to £230.6 million (US$301.1 million) in residential-backed bonds, according to Moody’s Investors Service.

Tower Bridge Funding No.1 PLC is the debut shelf for Belmont Green Finance, a mortgage lender that began operations in late 2016 extending home purchase loans to borrowers with adverse credit history.

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