Lanark Master Issuer 2020-1: 02 February 2020

Another issue via the Clydesdale Bank’s Master Trust programme, where the transaction is a revolving cash securitisation of prime 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 first ranking prime mortgage loans to individuals secured by property located in the UK, comprising an aggregate current principal balance of £6.839bln. The mortgage loans in the mortgage portfolio at the cut-off date (30 September 2019) were originated between 7 November 2002 and 30 August 2019.

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 ………………..£4,576,724,357
Class B notes ………………..£nil
Class C notes ………………..£nil
Class D notes ………………..£nil
Class E notes ………………..£nil
Class Z notes ………………. £851,833,000

The average current balance is £130,138. Type of repayment plan (by current balances): Repayment 81.43%, Interest Only 18.57%. Geographical distribution (by current balances): Scotland 22.58%, South East 18.48%, Greater London 16.61%, Yorks and Humber 15.03% and the North West 8.38%. The WA original LTV was 73.84%, with a current LTV of 66.68%. WA seasoning is 45.28 months.


Compare/contrast: Lanark Master, Lannraig Master