View more on these topics

Fitch upgrades Oakwood’s service ratings

Fitch Ratings has upgraded Oakwood’s UK servicer ratings.

Its residential primary servicer for prime mortgages and primary servicer for sub-prime mortgages have been upgraded from RPS3+ to RPS2-, while its residential special servicer has been upgraded from RSS2- to RSS2.

Fitch says the ratings are based on Oakwood’s ability to effectively manage growth, as evidenced by its acquisition of four new portfolios within the past 12 months.

The ratings agency also notes the considerable experience among staff, especially the early arrears management team where industry experience exceeds the levels observed among other UK rated servicers.

It adds that the special servicer rating continues to benefit from Oakwood’s proactive management of defaulted loans and the effective use of innovative workout strategies such as loan modifications.

Fitch notes the continued improvement in collection and recovery performance within the ALBA securitisations compared to other UK non-conforming RMBS deals.


No boom for BTL

The buy-to-let sector is not set for a boom despite huge demand for private rented accommodation, according to Imla chairman and Paragon Mortgages managing director John Heron. At the Imla executive briefing last week, Heron said there is a boom in demand but this is unlikely to be met by a BTL sector which is […]

New world order

Spending time with the international financial planning community at the recent Financial Planning Standards Board Council meeting inspired fresh confidence that the profession of financial planning is being extended across the globe. There will soon be 25 affiliate countries building certified financial planner certification programmes. Between us, we serve more than 140,000 CFP professionals and […]


Philippa Gee: Are financial advisers that gullible?

Picture the scene: it’s the strategy day for an investment provider and they are busily coming up with new products to flog. They propose an investment offering high levels of income – and a risk to match – but camouflaged with some pretty fantastic marketing material. Their concern is how to attract investors? How on […]


Scheme pension still can’t fund MIR after amendment

The Treasury will not allow investors to use scheme pension to fund the minimum income requirement for flexible drawdown despite the Department for Work and Pension’s decision to reclassify the arrangements as defined benefit. In April, the Government dealt a blow to pension providers and IFAs after it blocked the use of scheme pension to […]


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