View more on these topics

Clydesdale launches bond to back residential loans

Clydesdale Bank has launched a £1.5bn covered bond backed by residential mortgages.

The total number of mortgage accounts in the cover pool is 14,948. The average loan to value of the loans is 63.5 per cent. Clydesdale will use money from the bond to fund its operations, including mortgage lending. Moody’s has given the bond a AAA rating.

Covered bonds are securities backed by mortgages although the key difference between these bonds and residential mortgage-backed securities is that the originator keeps the loans on their balance sheet.

Chadney Bulgin mortgage partner Jonathan Clark says: “Clydesdale operates in areas of the market that other lenders do not, so it is good that it can secure this sort of funding.”


Rockingham clients rescued by Carey Pensions UK

Clients who invested their Sipps with collapsed IFA Rockingham have been given a lifeline with the transfer of their investments to Sipp provider Carey Pensions UK. Rockingham Independent was put into liquidation in March. The process of putting Rockingham into liquidation meant the firm had to apply to be closed down, and therefore could no […]

RSM Tenon picks new chairman after Martin steps down

RSM Tenon has appointed former Collins Stewart Hawkpoint chairman Tim Ingram as its new chairman to replace Adrian Martin. Ingram left Collins Stewart Hawkpoint in March. He was previously a senior independent non-executive director of the Sage Group and Savills. Ingram’s appointment comes after RSM Tenon said last month that Martin and deputy chairman Michael […]


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