View more on these topics

Santander issues £2.5bn securitisation

Santander has issued a residential mortgage-backed security deal worth £2.5bn.

The notes are the 20th issuance from Santander’s Holmes Master Trust programme, which is worth a total of £11bn.

Four of the five new notes have been assigned a provisional rating of Aaa by Moody’s.

The loan book has an average LTV of 66.4% and the proportion of loans more than 90 days in arrears stands at 2.04%.

In May Santander launched a £3.75bn deal, the largest publicly placed UK residential mortgage-backed securitisation since 2007.

Recommended

Marketwatch

Saffron and Aldermore have spotted gaps in the market and come up with innovative products for first-time buyers, which is great. The same can’t be said for buy-to-let where rates and fee choices are limited

Broker-exclusive deals from Northern Rock

Northern Rock has launched a range of mortgages available exclusively via brokers, with rates from 2.59%. The deals include a two-year fix at 2.59% with a £995 fee up to 65% LTV and the same deal available up to 75% LTV with a rate of 2.77%.

Rooftop reaps the benefits of low three-month LIBOR as arrears fall

Low three-month LIBOR is behind a significant decrease in Rooftop Mortgages’ arrears, according to Fitch Ratings. A report from the ratings agency shows that the arrears levels of Mansard Mortgages, a series of non-conforming residential mortgage-backed securities originated by Rooftop, have almost halved since their peak. Fitch says: “The arrears in this series have stabilised […]

Newsletter

News and expert analysis straight to your inbox

Sign up