Leek Finance No. 19 plc

Although numbered No.19, this will actually be the thirteenth public securitization in the
series of non-conforming securitisations from Britannia's Platform Homeloans unit, and
has a similar structure to Leek No.18.

The collateral, as normal, is a pool of first-ranking mortgages secured over properties
located in England, Wales, Northern Ireland, and Scotland. Owner-occupied loans make
up 64.81% of the total pool, and buy-to-let 35.19%. 74.82% of the loans are interest-
only loans. The WA LTV ratio of the pool is 82.16%, with seasoning at 6mnths (Leek
18, LTV 80.56%, seasoning 4mnths).

5.40% of the borrowers have been subject to at least one CCJ, with 1.43% of the loans
made to borrowers previously personally bankrupt. Borrowers with little or no verification
of borrower income make up 52.33% of the borrowers, and loans made to borrowers who
are purchasing their council properties account for 4.10%. The average loan size is
Stg123,565, heavily concentrated in the SouthEast & Greater London area (48.32% of total
pool). The next three main regional concentrations are: NorthWest (11.33%), Yorks &
Humber (7.84%), and West Midlands (6.40%).


Compare/contrast: Leek 18, Mansard Mortgages 2007-1, Kensington Mortgages Secs 2007-1