The United Kingdom's 2025 in Structured Finance So Far: Auto ABS Still Standing
ABCP, Auto, RMBSSummary
After ending 2024 at the top, the UK securitisation market also ranks number one this year in issuance volume and deal count among the seven European countries we cover. Most of the volume comes from residential mortgage-backed securities (RMBS) as that sector has consistently been the biggest in the UK. Notably, the Court of Appeal's decision on undisclosed broker commissions has not completely halted new issuance of auto asset-backed securities (ABS). There has been one EUR 1.1 billion auto ABS transaction so far this year. Meanwhile, the number of commercial mortgage-backed securities (CMBS) deals continues its slow recovery after dropping down to two in 2022 from 10 the year prior. In 2025, there have already been five UK CMBS transactions, up from four in 2024 and three in 2023.
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