Harbour No.2 plc: 01 November 2024

Essentially a re-financing of Harbour No.1 (investor reports & LLD available on www.euroabs.com). The Seller acquired the loans from Harbour No.1 PLC on the Closing Date pursuant to the IoW Mortgage Sale Agreement.

The Issuer will make payments on the Notes from payments of principal and revenue received from a portfolio comprising of loans, the equitable or beneficial interest in which will be sold to the Issuer by Isle of Wight Home Loans Limited.

At the cut-off date (31 July 2024) the provisional pool consisted of 3,230 accounts. Occupancy Type: Owner Occupied – 93.93%, BTL – 5.96%, no data – 0.11%. Portfolio (by current balances): MAQ Portfolio – 40.36%, Wall – 30.51%, Morag – 29.12%. The average current balance per account was £115,189 and the maximum was £1.750mln. Repayment Method (loan level): Interest Only – 80.81%, Repayment – 16.84%, other – 2.35%. Interest Rate Type: Floating for life – 83.91%. Arrears: Loans in Arrears >= 1 month – 54.4%, Loans in Arrears >= 3 month – 43.4%. Additional information: restructured loans – 49.2%. The current ILTV is 52.3% (original LTV was 83.9%) and the WA seasoning (sub-account level) is 209 months. Regional concentration: London – 19.04%, South East – 14.15%, North West – 13.80% and West Midlands – 9.37%.

UK & EU Risk Retention: On the Closing Date, Barclays Bank plc (the Retention Holder) will retain, as 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 UK Securitisation Regulation and Article 6(1) of the EU 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 and the Class X Certificates.

US Risk Retention: The Retention Holder intends to satisfy the US Credit Risk Retention Requirements by acquiring and retaining, directly, an eligible vertical interest equal to a minimum of 5% of the nominal value of each Class of Notes and the Certificates.

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

Compare/contrast: Harbour No.1, Fylde Funding 2024-1 PLC, Bletchley Park Funding 2024-1 PLC