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Hops Hill No.1 PLC: 27 January 2021

A stand-alone transaction, where the issuer will make payments on the Notes from a portfolio comprising mortgage loans originated by Keystone Property Finance to borrowers secured on properties in England and Wales, and to be acquired by the issuer from the Beneficial Title Seller. Keystone is an intermediary-only, specialist BTL lender owned by The Property Business Group.

The reference portfolio consists of 1,095 sets of borrowers (1,456 mortgage loan accounts) and is secured on 1,456 properties. The average loan balance is £217,005 and the largest is £1.020mln. All loans are at a fixed interest rate. Loan purpose: debt consolidation – 50.43%, purchase – 39.40% and re-mortgage – 10.17%. Redemption type: interest-only – 94.43%, other – 5.57%. The WA current LTV is 71.62% (original LTV was 71.60%) and the WA seasoning is 10.36 months. Regional concentration: London – 42.13%, South East – 14.67% and the North West 10.50%.

EU Risk Retention: The Beneficial Title Seller (UK Mortgages Corporate Funding) will undertake that it will retain, at all times until the redemption of the last of the Notes, a material net economic interest of not less than 5% in the nominal value of the securitisation in accordance with the text of Article 6 of the EU Securitisation Regulation.

US Risk Retention: The Beneficial Title Seller does not intend to retain 5% for the purposes of compliance with the US Risk Retention Rules, but rather intends to rely on an exemption provided for in Section 20 of the US Risk Retention Rules.

STS: No notification will be submitted to ESMA.

Compare/contrast: Oat Hill No.2, Barley Hill No.1 plc