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Lanebrook Mortgage Transaction 2023-1 PLC: 24 November 2023

Another stand-alone transaction under the Lanebrook name where the Issuer will make payments on the Notes from a portfolio comprising mortgage loans originated by The Mortgage Lender Ltd to borrowers, secured on properties in England, Wales, and Scotland, and such mortgages sold to the seller prior to the closing date.

As at the Portfolio Reference Date (30 September 2023) the Provisional Portfolio comprises 2,384 first-ranking buy-to-let loans originated by the seller between 1 July 2022 and 28 April 2023 and secured over properties located in England, Wales and Scotland. All loans were subject to a full property valuation. The average current balance is £178,301 and the largest loan is for £1.053mln. Repayment type: interest-only – 94.06%, repayment – 5.94%. Interest rate type: Fixed Rate Loan reverting to floating – 99.74%, Fixed rate – 0.26%. Loan purpose: refinancing - 58.87%, purchase – 41.13%. The WA current LTV is 73.85% (original LTV was 72.00%) and the WA seasoning is 10.77 months. Regional distribution (by current balances): London – 34.48%, South East – 11.95%, East of England – 10.95% and the North West - 10.34%.

Significant investor: On the Closing Date, the Seller will subscribe and pay for all of the Class A2 Notes, Class B Notes, Class C Notes, Class D Notes, Class E Notes, Class F Notes, Class X1 Notes and Class X2 Notes.

UK & EU Risk Retention: On the Closing Date the Seller, as an originator for the purposes of the UK Securitisation Regulation and the EU Securitisation Regulation (as in force on the Closing Date), will retain on an ongoing basis a material net economic interest of not less than 5 per cent in the securitisation in accordance with (a) the text of Article 6 of the UK Securitisation Regulation (the "Retention") and (b) Article 6 of the EU Securitisation Regulation.

US Risk Retention: The Seller, as the sponsor under the US Risk Retention Rules, does not intend to retain at least 5% of the credit risk of the securitised assets for purposes of compliance with the final rules promulgated under Section 15G of the Securities Exchange Act of 1934, but rather intends to rely on an exemption provided for in Section 20 of the US Risk Retention Rules regarding non-US transactions.

UK STS: The Seller, as originator, within 15 Business Days of the Closing Date, will procure a notification to be submitted to the FCA, in accordance with Article 27 of the UK Securitisation Regulation, that the requirements of Articles 19 to 22 of the UK Securitisation Regulation have been satisfied with respect to the Notes.

Compare/contrast: Lanebrook Mortgage Transaction 2022-1, Elvet Mortgages 2023-1, Twin Bridges 2023-2