UFO filmed flying over Nuneaton, UK on January 12, 2013

This footage was captured by a woman in Nuneaton, UK on January 12, 2013. She speculates that the bright object might be a remote controlled plane, and I must agree that it’s a reasonable explanation.
I saw a red and white flashing ufo above houses in my area. I believe it’s to fast to be an rc plane and if it was, it must be an expensive one. Also if it happened to be an expensive rc plane, I wouldn’t risk flying it over houses due to the chances of losing signal and crashing it. Can you think of any other reasonable explanation. Thanks.
Thoughts?
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