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.
Research by Alliance & Leicester for Mortgage Strategy shows that 64% of brokers feel confident using packagers.