Lannraig Master Issuer Series 2018-1: 20 October 2018

Only the second transaction to be issued via the Clydesdale Bank’s Lannraig Master Trust programme, where the transaction is a revolving cash securitisation of residential mortgages extended to obligors located in the UK. The actual originators will be Clydesdale Bank plc and Yorkshire Bank Home Loans Ltd - a wholly owned subsidiary of Clydesdale Bank.

The portfolio comprises of BTL mortgage loans secured by property located in the UK, comprising an aggregate current principal balance of £1.033bln. The mortgage loans in the cut-off date mortgage portfolio were originated between 15 November 2002 and 14 February 2017.

As of the closing date the aggregate principal amount outstanding of notes issued by the issuer (converted, where applicable, into sterling at the applicable specified currency exchange rate) will be:-

Class A notes ………………..£700,000,000
Class B notes ………………..£nil
Class C notes ………………..£nil
Class D notes ………………..£nil
Class E notes ………………..£nil
Class Z notes ………………. £116,100,000

The average current balance is £131,917. Type of repayment plan (by current balances): Repayment 81.07%, Interest Only 18.93%. The WA original LTV was 69.07%, with a current LTV of 65.17%. WA seasoning is 89.40 months. Geographical distribution (by current balances): London 43.30%, South East 17.03% and Scotland 10.91%.


Compare/contrast: Lanark Master, Lannraig Master