Mortgage holidays fail to deter UK RMBS buyers

By Tom Brown
29 Jul 2020

The level of Covid-19 payment holidays affecting specialist UK lenders in the UK and fears over the future of the country's economy have failed to dampen demand for their debt among UK RMBS buyers, with the lack of public issuance boosting interest in publicly placed deals.

Kensington Mortgages completed a £650m RMBS transaction on Friday, RMS 32, which marked the largest issuance of RMBS since lockdown began on March 23.

Around 21.2% of borrowers in the portfolio are taking payment holidays from their loans, according to Fitch, but deal appetite remained strong with ...

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