Langton Securities (2008-3) PLC

This will be the third issuance of residential mortgage securities via the Langton programme by originator
Alliance & Leicester. All loans are secured over residential properties located in England, Wales, Scotland
and Northern Ireland. The programme is characterised by a capitalist structure, in which each issuer has
its own reserve fund, only available to support notes issued by that specific issuer.

This issue will increase the number of loans securitized to 90,879 with a current outstanding balance of
STG£9.624bln. The average outstanding balance is Eur105,900 and the WA LTV is 65.76%. Only 1.50%
of current balances have a higher current LTV than 95.0%. WA seasoning is 28.95mnths.

Repayment mortgages account for 62.44% of outstandings, with part & part making up the balance. Fixed
-rate loans are equivalent to 58.46% of outstanding balances. There are no loans with greater than 6mnths
arrears, and loans with greater than 3mnths’ arrears total just 6. The main geographical concentrations (by
outstanding balances) are: the South East 27.29%, Scotland 10.17%, Greater London 9.50%, and the South
West 8.09%.

Compare/contrast: Langton Securities 2008-2, Arkle 2008-1, Permanent Master 2008-2.
Langton Securities (2008-3) PLCArkle 2008-1 plcPermanent Master Issuer 2008-2