KBRA Releases Research – KBRA-Rated European CMBS Exposure to Wildfires in Spain and France July 28, 2026 KBRA releases research assessing the potential exposure of KBRA-rated European commercial mortgage-backed securities (CMBS) transactions to the ongoing wildfires in Spain and France. KBRA has not identified any collateral properties within active wildfire perimeters or mandatory evacuation zones, and no physical damage or operational disruption has been identified. The following KBRA-rated CMBS transactions have collateral [...]
Student housing giant Unite faces £400m loss amid property value slump July 28, 2026 Unite Students has plunged to a more-than £400m loss after being hit by a £500m revaluation of its properties and “extremely challenging” building costs. The UK’s largest student landlord slumped to a £417m pre-tax loss in the six months to June, reversing a £186m profit the year before, as its earnings slipped by two per [...]
KBRA Assigns Preliminary Ratings to Lugo Funding 2026-1 DAC July 22, 2026 KBRA Europe (KBRA) assigns preliminary ratings to seven classes of notes to be issued by Lugo Funding 2026-1 DAC, a static RMBS securitisation backed by a portfolio of mortgage participations and mortgage transfer certificates (together, Mortgage Certificates) issued by Banco Bilbao Vizcaya Argentaria, S.A. (BBVA). The Mortgage Certificates represent the economic rights to receive payments [...]
London house prices fall again as property slowdown drags on July 22, 2026 London house prices fell again in May as uncertainty over Andy Burnham’s premiership dampened market confidence. The average house price in the capital slipped by 3.7 per cent to £545,000 in the year to May, according to the Office for National Statistics (ONS). Prices jumped in the rest of the country, though the headline rate [...]
Manchester was Burnham’s rehearsal – now get ready to pay the bill July 22, 2026 Burnham has asked to be judged on Manchester – where his record is more spending, more borrowing and higher taxes, says Gareth Davies Andy Burnham walks into Downing Street with a simple pitch: judge me on Manchester. I am happy to take him up on it. Start with tax. In 2018, Mr Burnham created a [...]
Housebuilders urge Rayner to ‘hit the ground running’ and rip up planning red tape July 22, 2026 Housebuilders have called on Angela Rayner to “hit the ground running” and rip up planning red tape after her surprise comeback as housing secretary. Rayner resigned as housing secretary in September over an investigation into her tax affairs but was cleared of wrongdoing in March this year. Leading housebuilding figures told City AM they welcomed [...]
Stop recycling Angela Rayner and reform planning instead July 21, 2026 Angela Rayner is back as housing minister but still nothing substantial has changed in housing policy, says Duncan Kreeger Angela Rayner has returned to the housing brief. Fine, I suppose – she’s paid her stamp duty bill now at least. But if Andy Burnham wants us to have hope that the country might actually build [...]
Wealthy Brits fear Burnham tax consequences July 20, 2026 Wealthy Brits are bracing for a major shake-up of the tax system, as the UK’s new prime minister looks for ways to fund fresh spending commitments. Prior to taking office, Andy Burnham had already hinted at plans over how the country should be taxed. The Makerfield MP has so far refused to rule out a [...]
The Executive Ledger: Is the company car consigned to history? July 17, 2026 The traditional executive company car used to be defined by a beautifully simple set of rules, writes motoring journalist Tim Barnes-Clay. It required a German saloon, 3.0 litres of naturally aspirated displacement, finished in metallic paint, and a designated parking space close to the boardroom doors. It was a statement of seniority, paid for by [...]
KBRA Releases UK RMBS Indices: Q2 2026 July 17, 2026 KBRA releases its UK RMBS Indices: Q2 2026. The indices track early-, mid-, and late-stage delinquencies, annualised net losses, and prepayment activity across prime, buy-to-let (BTL), and nonconforming (NC) mortgage collateral. Click here to view the report. About KBRA KBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the [...]