Kentmere No. 1 plc: 24 October 2019

The Issuer will make payments on the notes from payments of principal and revenue received from a portfolio comprising loans the equitable or beneficial interest in which will be sold to the issuer by Isle of Wight Home Loans Limited (referred to in the Prospectus as the Seller) and which were purchased by the Seller from Slate No.1 plc (the Vendor) (and originally originated by Bradford & Bingley plc, Mortgage Express, NRAM plc (formerly known as Northern Rock PLC and latterly known as Northern Rock (Asset Management) plc) and Legal and General Bank Limited) and secured over residential properties located in England and Wales, Scotland and Northern Ireland.

As at the Portfolio Reference Date, the Provisional Portfolio consisted of 9,820 accounts (14,509 sub-accounts), where the average current balance is £81,046 (at account level) and £54,854 (at sub-account level). Occupancy type (at account level): owner occupied – 99.91%, BTL – 0.09%. Repayment type (at sub-account level): interest only – 65.25%, repayment – 33.53% and P&P – 1.22%. Interest rate type: floating – 97.31%, fixed – 2.69%. The WA current LTV (non-indexed) is 63.32%, and the WA original LTV was 81.20%. The WA seasoning is 166.28 months. Regional concentration: London – 26.60%, South East – 26.31%, the North West 9.15% and the South West 9.01%.

EU Risk Retention: On the Closing Date Barclays Bank plc (the Retention Holder) will retain, as an originator, on an ongoing basis, a material net economic interest of not less than 5% in the securitisation in accordance with Article 6(1) of the Securitisation Regulation. As at the Closing Date, the Retention will comprise the Retention Holder holding no less than 5% of the nominal value of each Class of Notes sold or transferred to investors and the Class X Certificate issued to the Seller.

US Risk Retention: The Retention Holder intends to satisfy the U.S. Credit Risk Retention Requirements by acquiring and retaining directly an eligible vertical interest (EVI) equal to a minimum of 5% of the nominal value of each Class of Notes and the Certificates issued by the Issuer on the Closing Date.

STS: The Notes are not intended to be designated as STS securitisation for the purposes of the Securitisation Regulation.

Compare/contrast: Slate No.1 plc