In October 2010, the 90+ day delinquency performance trend dropped steadily to 2.1% from 2.8% in July 2010.
Outstanding repossessions declined to 0.14% from 0.17% in July 2010, while cumulative losses rose slightly to 0.33% from 0.29% in July 2010.
The Moody’s annualised total redemption rate trend decreased to 4.74% in October 2010 from 5.10% in September 2010, but remains lower than 5.13% recorded in October 2009.
Moody’s has not rated any new transactions in the UK BTL market since August 2010. Since 1999, the rating agency has rated a total of 30 UK BTL RMBS transactions.
As of October 2010, the total outstanding pool balance in the UK BTL RMBS market was £26.4bn, compared to £24.1 at the same time in the previous year.