Arima Mortgages PLC (2025 Refinancing): 26 March 2025

A refinancing of both the unrated Arima 2023 transaction, which was a standalone non-conforming RMBS transaction, which is secured over residential and commercial properties located in England and Wales, and of Tudor Rose 2021-1. Arima, in turn, was essentially a re-financing of loans purchased from the Farringdon Mortgages No. 2 plc and Trinidad Mortgage Securities 2018-1 transactions.

The provisional portfolio (as at 31 October 2024):-

……………………………… All …………….Arima……… . Tudor Rose
Number of borrowers ……… 640 ………………470 ….. …….… .. 170
Number of loans ………. … 738 ………………488 ………..… . .. 250
Number of properties …… 892 …………… .. 642 …. ……. …..... 250
Av current balance (£) …. 134,865 …………..63,071 ……….. . .71,794
WA OLTV………………… 2.4%.................... 73.6% ……..… .. 71.3%
WA CLTV …………………. 53.9% …………45.6% ……….. . . 61.2%
WA Seasoning (months) …… 132 …………… 186 …………. … 83
Interest-only ……………… 83.9%..................... 66.2% ……..... 99.4%
BTL ……………………… 65.5%..................... 26.2% ……....... 100.0%
Loans in Arrears >= 3 month . 19.4% …………… 28.0% …….... 11.8%


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.

US Risk Retention: The Retention Holder as "sponsor" under the US Credit Risk Retention Requirements 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.

Compare/contrast: Arima Mortgages plc, Tudor Rose Mortgages 2021-1 (redeemed)