Tower Bridge Funding 2024-3 PLC (TBF 2024-3) is an RMBS transaction that securitizes a portfolio of buy-to-let (BTL) and owner-occupied mortgage loans secured on properties in the U.K. At closing, the issuer will prefund the acquisition of an additional portfolio (subject to compliance with the respective eligibility criteria) of approximately 16.4% of the total transaction size that may be purchased before and up to the first interest payment date (IPD). Belmont Green Finance Ltd. (BGFL), a nonbank specialist lender, originated the loans in the preliminary pool between 2017 and 2024 via its specialist mortgage lending brand, Vida Homeloans. Approximately 25.7% of the assets in the transaction were previously securitized in prior Tower Bridge transactions that we rated. The loans were