Leek Finance No. 20 plc

With this transaction, Britannia Building Society joins the list of UK financial institutions
(Abbey, Cheltenham & Gloucester, HBOS etc) that have brought retained deals to the
market, for internal liquidity purposes and the option to use the Bank of England’s
Special Liquidity Scheme.

The mortgage pool was originated via Platform Home Loans (Britannia’s wholly owned
subsidiary) and GMAC-RFC will comprise of 14,239 loan parts advanced to the borrow-
ers upon the security of residential properties in England and Wales, Scotland, or North-
ern Ireland. At the cut-off date (30 April 08), 38.87% were Libor-linked loans, and 61.05%
were linked to the BofE’s Base Rate.

Looking at the overall pool, the Platform pool accounts for 73.65% of total balance, and
the GMAC-RFC pool 26.35% of total balance. The average current balance is Stg132,888
with a WA current LTV of 84.53% and WA seasoning at just over 1yr. As per the stand-
ard criteria, 36.13% of the loans are prime, 46.17% are non-conforming, and 17.70 are
buy-to-let loans. Overall, 56.01% by current balance, are self-certified loans, and interest
-only loans account for 73.29% of total balance. Regional concentration (by current
balance): South East 27.68%, Greater London 15.08%, North West 10.46% and West
Midlands 8.19%.

Compare/contrast: Leek 19, Greenock Funding No.2, Plc , Ludgate Funding 2008 - W1 Plc
Leek Finance No. 19 plc Greenock Funding No.2, Plc Ludgate Funding 2008 - W1 Plc