Fleet Mortgages’ sees upgraded ratings for loan origination notes
Specialist lender Fleet Mortgages has had its ratings for its loan origination notes upgraded by Moody’s Investor Services.
The notes upgraded are London Wall Mortgage Capital plc: Fleet 2016-1 and London Wall Mortgage Capital plc: Fleet 2017-01.
The ratings agency said that the decision reflected their better than expected collateral performance and the increased levels of credit enhancement.
Bob Young (pictured), chief executive officer of Fleet Mortgages, said: “We are very pleased to hear that our loan origination notes have been upgraded by Moody’s as this is another vote of confidence in us as a lender, and the quality of the loans that we originate.
“We should not forget that these are loans originated through the intermediary sector via the first-class advisers that recommend our products.
“Our focus has always been on the quality of mortgage we can originate and, by working with the best intermediaries – who are able to access our state-of-the-art underwriting process – we can continue to make sure they are of the highest quality.
“Fleet Mortgages will continue to work in this way and will hopefully continue to out-perform the initial expectations of the rating agencies.”