Sub-prime repossessions drop to August 2005 low
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UK sub-prime residential mortgage-backed securities repossessions fell to 1.48 per cent, the lowest level since August 2005, according to Moody’s Investor Service.
Most securities recorded falling delinquency levels, but the delinquencies in transactions issued by Preferred and Money Partners have increased.
As of February 2010, a total balance of £25.5bn was outstanding in this market, compared to £29.5bn as at February 2009.
Since January 2009, no new transactions have been issued in the UK non-conforming market.
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