View more on these topics

Private securitisation deal for Express

Bradford & Bingley has privately placed a residential mortgage-backed securitisation of UK non-conforming loans from its subsidiary Mortgage Express.

It is understood that the initial pool consists of about 78 per cent buy-to-let loans and 22 per cent self-certified mortgages although Bradford & Bingley would not comment on the details of the deal.

The privately placed securitisation is the fifth issue out of the Aire Valley Master Trust.

Black and White Group chief executive officer Thomas Reeh says that Bradford & Bingley is clearly following a strategy by choosing to privately place its RMBS rather than offer it publicly,

He says: “I know there are private hedge funds out there who do see some opportunity in buying these deals. They can get better prices for them than they would have got a few months ago.”

A Bradford & Bingley spokeswoman says the Mortgage Express deal was part of usual business and the firm is likely to do more in the near future. She says whether the lender will look to start offering publicly placed RMBS will depend on the market at the time.


AMI creates TCF working party

The Association of Mortgage Intermediaries has created a Treating Customers Fairly working party which will be led by director Richard Farr.This comes after the latest report from the FSA in the run up to the next TCF deadline of March 31 which requires firms to have relevant management information in place.The TCF working party will […]


Axa’s wrap to lift off in 2008

Axa’s wrap platform is to be branded Elevate and will roll out to the whole market during 2008. Elevate will offer dual pricing to give advisers full flexibility over charging structures.

Thames River delays funds

Thames River has postponed the launch of its multi-manager offshore range.It had aimed at launching in the fourth quarter but has decided to wait until early next year to allow new arrivals Gary Potter and Robert Burdett more time to bed down and focus on their five onshore funds.Potter and Burdett joined from Credit Suisse […]

Insolvencies down by 5%

Individual insolvencies in England and Wales have fallen by 5 per cent in the last year, says the Insolvency Service. Individual insolvencies now stand at 26,072, a decrease of 3 per cent on the previous quarter.


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