The Oakwood Group says it expects to complete several more securitisations before launching its new lender in the summer. The news follows Oakwood Homeloans’ securitisation of 300m in mortgage assets on November 30.The securitisation is comprised of 200m of near-prime residential mortgage assets from Preferred Mortgages, and 100m of conforming buy-to-let assets from Platform Home Loans. Mike Culhane, chief executive of Oakwood, says the group is in talks with various lenders to purchase assets. It expects to complete about two more transactions from a mix of new lenders and those Oakwood already deals with. The Oakwood Group will launch its new lender next June with the help of the HBOS Famous Five, who jumped ship earlier this year. Oakwood Homeloans will continue to trade and operate separately.
Festive Stunts The Mortgage Strategy team were full of festive cheer last week as they embarked on their annual Christmas lunch. In true Strategy style, the alcohol was flowing as the festivities got underway. Meanwhile, editor Robyn Hall was a man at work after temporarily losing his hand-eye coordination and falling head first into some […]
Though TMW’s decision has sparked concern in the sector, buy-to-let’s prospects remain positive for next year, say our experts
The Financial Services Authority has told retail networks to improve the supervision of their appointed representatives. This follows an FSA survey that found potential shortcomings in areas such as the level of compliance resources in principal firms, the quality of desk checks and field visits to check ARs’ compliance, the use of computer systems for […]
Scarborough has become the first organisation in Europe, the Middle-East and Africa to fully introduce a telephony system. The society has partnered with Nortel in developing and installing the ‘expert anywhere’ contact centre solution, part of its move to improve the speed and efficiency of its customer service. The system has been introduced into Scarborough’s […]
Smart utility metering; fitness trackers; connected cars; smart factories; precision agriculture: the internet of things encompasses myriad applications. But how do you gain exposure – and profit – from this growing trend, asks Neptune fund manager & CTO Ali Unwin. Read more: Important information Investment risks Neptune funds may have a high historic volatility rating […]
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