London Wall Mortgage Capital (RMBS Prog)

The Issuer initially established a residential mortgage backed securities programme on 1 November 2016.

The Programme provides arrangements whereby the Issuer may from time to time issue Notes and DCIs in separate segregated series. There will be no cross-collateralisation or commingling between any of the Series issued, or to be issued, under the Programme and each Series will have its own separate features as indicated in the relevant Series Prospectus.

The Issuer will make payments on the Notes and DCIs in respect of a Series from, among other things, payments of principal and revenue received from the Series Portfolio backing that Series, which will comprise Mortgages secured over residential properties located in England and Wales, Scotland and/or Northern Ireland and originated by the Series Portfolio Originator(s) indicated in the relevant Series Note Final Terms or, as applicable, in C.1 Table of Transaction Parties in the relevant Series Prospectus. The Series Portfolio will have been acquired prior to the relevant Series Closing Date by London Wall Capital Investments LLP (being the Series Portfolio Seller) and will be purchased by the Issuer on the Series Closing Date.

EU & UK Risk Retention: In relation to each Series issued under the Programme, regulatory disclosures of the relevant Series Prospectus will indicate whether or not that Series includes arrangements for compliance with the risk retention requirements set out in Article 6 of the UK Securitisation Regulation and/or Article 6 of the EU Securitisation Regulation and, if so, what such arrangements will consist of as at the relevant Series Closing Date.

US Risk Retention: In relation to each Series issued under the Programme, the relevant Series Prospectus will indicate whether or not that Series includes arrangements for the purposes of compliance with the U.S. Risk Retention Rules or whether or not the Series Portfolio Seller intends to rely on the U.S. Risk Retention Exemption.