Article on todays independent re the above. In the article it states :-
PTSB will randomly select from a pool of 6,098 home loans issued to owner-occupiers at an average interest rate of 3.28pc.
As the mortgages are performing - the pool has an arrears rate of less than 2pc - with the portfolio composed primarily of loans carrying a top-notch credit rating, sources predict the yield may be lower on this RMBS deal than last year's offer.
Can anyones loan be selected, and if it can surely this would prevent the borrower from being able to switch in the future?
Can someone throw some light on this please
PTSB will randomly select from a pool of 6,098 home loans issued to owner-occupiers at an average interest rate of 3.28pc.
As the mortgages are performing - the pool has an arrears rate of less than 2pc - with the portfolio composed primarily of loans carrying a top-notch credit rating, sources predict the yield may be lower on this RMBS deal than last year's offer.
Can anyones loan be selected, and if it can surely this would prevent the borrower from being able to switch in the future?
Can someone throw some light on this please