View more on these topics

Euro fears delay West Brom securitisation

West Bromwich Building Society has postponed the issue of its £410m residential mortgage-backed securitisation due to concerns about market conditions in the eurozone.

The pool of loans making up the transaction, known as Kenrick No 1, are prime residential mortgages.

The deal, which was to launch this month, was to be managed by Barclays Capital and Citigroup.

West Bromwich will not confirm when it will look to remarket the deal.

The society backed away from the launch of a securitisation in August 2007 due to unstable conditions in the wholesale markets.

Three eurozone members Greece, Ireland and Portugal have received aid packages since May 2010, with Greece about to receive its second bailout in just over 12 months.

Concerns have been raised about the potential of contag-ion risk from debt-stricken countries infecting other members of the eurozone, notably Spain and Italy.


Engage Mutual revamps guaranteed 50 plus life cover

Engage Mutual Assurance has revamped its guaranteed 50 plus life cover by increasing the maximum level of cover and accidental death benefit, widening the range of premiums and adding two new options at no extra cost to clients.


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