View more on these topics

Barclays sets up first RMBS since 2007

Barclays Bank is to launch its first residential mortgage-backed securitisation since May 2007.

Barclays Capital is arranging a series of investor meetings to drum up interest in its first issue since the financial crisis. The size and pricing of the transaction will be set after the meetings.

Rating agency Moody’s says the issue will be backed by prime UK residential mortgages originated by Barclays and will represent the fourth issue out of the Gracechurch Master Issue structure, which has £9.1bn of loans.

Santander, Lloyds Banking Group and Royal Bank of Scotland have been the most active recent RMBS players, with the latter two launching issues worth £2.1bn and £3.5bn respectively in the past month. In May, Santander launched a £3.75bn issue, the biggest publicly placed RMBS since 2007.

Industry consultant Jonathan Cornell says: “We cannot think we are out of the woods because most RMBS are at very low LTVs and are prime but if some of that money is being recycled into the mortgage industry then it will help everybody.”



Advisers must act now to tackle RDR tax costs

Many in the industry hoped the changes to adviser remuneration resulting from the retail distribution review would have minimal tax implications but they were disappointed. The tax changes look to be wide-ranging and may affect the number of products offered. Fortunately, some of the hidden tax costs of the RDR can be mitigated if advisers […]


Mark Hoban’s letter of dismay over Money Advice Service cuts

Treasury financial secretary Mark Hoban has written to the Money Advice Service over concerns it may drop its work on financial education for young people, Money Marketing understands. Last week, Money Marketing revealed MAS was making swingeing cuts to staff numbers. It is understood over three-quarters of the 150 staff have been put on consultation, […]


John Cowan: Expect overwhelming shift to restricted advice

IFA firms will move “overwhelmingly” towards restricted advice within three years of the implementation of RDR, according to independent consultant John Cowan. Speaking at the Money Marketing RDR Invitational in London last week, Cowan said the FSA’s new definition of independence will make it very difficult to remain an IFA. Cowan said: “I believe the […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm