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Buy-to-let RMBS continue to improve

The performance of the UK buy-to-let residential mortgage-backed securities market continued to improve in the three-month period leading up to February 2012, according to Moody’s.

In the three-month period to February 2012, the 90+ day delinquency trend decreased to 1.55%, from 1.70% in November 2011.

During this period, outstanding repossessions and cumulative losses remained stable at 0.1% and 0.5%, respectively, in November 2011.

Moody’s annualised total redemption rate trend averaged 5.5% in the three-month period to February 2012.

As of February 2012, the 29 Moody’s-rated UK buy-to-let RMBS transactions had an  outstanding pool balance of £37.2bn. Compared with the £37.7bn pool balance for the same period in the previous year, this constitutes a 1.5% year-over-year decrease.


FSA advises vigilance over hijackers

The Financial Services Authority is warning brokers to be wary of property hijacking. The regulator says it has seen an increase in cases where fraudsters try to obtain mortgages on empty properties they do not own, which it dubs property hijacking. The fraud is perpetrated by introducers who are not local and are unknown to […]

Marketwatch – April 2012

If anyone needs any cheering up at the moment, then all you have to do is be thankful you are not chancellor George Osborne.

Distributors join with regulated lenders to tackle bridging fraud

Major distributors are seeking to protect themselves against bridging fraud by teaming up with regulated lenders. Last week, seven distributors agreed a partnership with Precise Mortgages. Precise is now a preferred bridging lender for Ingard Financial, Mortgageforce, Pink Home Loans, Personal Touch Financial Services, PMS, Sesame and SimplyBiz Mortgages. The Financial Services Authority undertook a […]

HSBC to raise new-build LTV to 85% in next few months

HSBC is planning to increase the maximum LTV on new-build mortgages from 75% to 85% LTV in the next couple of months. The lender believes valuations in the market have stabilised and it is now safe to raise its LTV. Q1 was HSBC’s best ever quarter as it lent £4.9bn overall and £1.2bn to first-time […]


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