A total of $2.2 billion (£1.45 billion) has been generated by Spanish lender Santander following the sale of bonds backed by residential mortgages originated by its Alliance & Leicester unit.
The company had provided $1.37 billion of bonds in pounds and euros to yield 120 basis points more than benchmark interbank lending rates, according to spokesman Anthony Frost.
Santander's sale of bonds is the first transaction in this country that doesn't feature an option to allow bondholders to call for repayment after a set date since 2008, when Lloyds sold securities worth £500 million.
Dalibor Jarnevic, a fund manager at DWS Investments, told Bloomberg: "The fact that investors are buying a transaction without a put option is a very important step in opening the securitization market as a funding source."
Santander revealed it would be reducing the deposit it demands from first-time buyers purchasing new-build properties last month.
Those buying a new build house can now borrow up to 90 per cent of their property's value, up from 80 per cent previously.
