UK buy to let RMBS per­for­mance im­proves slightly, says Moody’s

Financial Mirror (Cyprus) - - FRONT PAGE -

The per­for­mance of the UK buy-to­let (BTL) residential mort­gage­backed se­cu­ri­ties (RMBS) mar­ket im­proved slightly in the three months ended May, ac­cord­ing to the latest in­dices pub­lished by Moody’s.

The 90+ day delin­quency rate de­creased to 0.64% in May from 0.66% in Fe­bru­ary, rep­re­sent­ing a 4% drop, while out­stand­ing re­pos­ses­sions 0.09% in May.

Cu­mu­la­tive losses in­creased marginally to 0.83% in May from 0.81% in Fe­bru­ary.

Moody’s an­nu­alised to­tal re­demp­tion rate de­creased to 8.57% in May from 9.01% in Fe­bru­ary.

New play­ers in the prime mort­gage mar­ket and pre-cri­sis legacy as­sets



at hold the keys to deal is­suance for the next 12 months. They ac­counted for al­most half of all newly is­sued UK RMBS from Jan­uary 2014 to June 2015, at 15 out of 33 deals (GBP 8.2 bln out of to­tal is­suance of GBP 27.9 bln).

Moody’s forecast that UK house prices will rise by up to 5% in 2015, but at a slower pace than in 2014.

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