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Securitised Residential Mortgage Portfolio II B.V.: 27 January 2021

The Issuer will make payments on the Notes from payments of principal and interest received from a portfolio comprising mortgage loans originated by the seller (Achmea) and secured over residential properties located in the Netherlands.

Achmea Bank is part of Achmea, the largest insurance group in the Netherlands, and provides retail mortgage and savings products through the Centraal Beheer and Woonfonds brands. Its home mortgages are sold under the Centraal Beheer, Woonfonds and FBTO brands. They have previously securitised under the Dutch Mortgage Portfolio Loans, Dutch Residential Mortgage Portfolio Loans and Securitised Guaranteed Mortgage Loans names.

The provisional pool (as at 30 November 2020) consisted of 12,249 loans advanced to 10,762 owner-occupied borrowers (in 21,740 loan parts), where the Average Current Balance per Property is Eur160,487 and the Average Current Balance by Loan Part is Eur71,911. Redemption Type (by current balance): Interest Only – 47.64%, Repayment – 36.48%, Endowment – 8.80%, Savings Mortgage – 5.33% and Other – 1.75%. Interest Payment Type: Fixed with future periodic resets – 91.27%, Floating rate loan (for life) – 6.21% and Fixed rate loan (for life) – 2.52%. The WA CLTOMV is 73.11%, the WA CLTMV (indexed) is 59.18% and the WA CLTFV (indexed) is 71.93%. The WA seasoning is 123.25 months.

EU Risk Retention: The Seller, in its capacity as Originator within the meaning of Article 6 of the Securitisation Regulation, has undertaken to retain on an ongoing basis a material net economic interest of not less than 5% in the securitisation transaction, as at the Closing Date, by retaining the Class A Notes and the Class B Notes, representing an amount of 5% of the nominal value of the Notes.

US Risk Retention: Neither the Seller nor any other party intends to retain at least 5% of the credit risk of the securitised assets within the meaning of, and for purposes of compliance with, the U.S. Risk Retention Rules, but rather intends to rely on an exemption provided for in section 20 of the U.S. Risk Retention Rules regarding non-U.S. transactions that meet certain requirements.

STS: The securitisation transaction is intended to qualify as an STS securitisation within the meaning of Article 18 of the Securitisation Regulation.

Compare/contrast: SRMP I, Cartesian Residential Mortgages 5 S.A., Jubilee Place 2020-1