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Permanent Master Issuer 2018-1: 01 July 2018

After an absence of over 18 months another Permanent transaction, where this master trust property consists of mortgage loans originated by Halifax plc and mortgage loans originated by Bank of Scotland plc.

Notes on the Master Trust: the programme allows for the substitution of the trust property with the assignment of new loans to the mortgages trust; BOS is obliged to repurchase from the trust all loans subject to a further advance; Loans subject to product switches will be retained in the trust subject to certain conditions being met; junior classes may be repaid prior to senior classes.

As of the closing date for this issue (31 March 2018), there are 154,854 mortgage accounts in the Trust (49.51% being repayment loans and 50.49% being interest-only loans) with an average WA LTV of 42.16% and a WA seasoning of 143.92mnths. The loans in the expected portfolio as at the cut-off date were originated between 1 February 1996 and 29 October 2010.

Compare/contrast: Permanent 2016-1, Holmes Master Issuer (2018-1), Charter Mortgage Funding 2018-1