Mansard Mortgages 2007-2

This will be the fifth transaction to securitise mortgages originated via Rooftop, the wholly owned
Bear Sterns UK mortgage provider, and sees a re-activateion of the Mansard name after the ill-fated
two initial issues under the Farringdon brand. The programme was then totally re-vamped under the
name Mansard name and Bear Sterns parachuted in a number of senior US personnel to get things
back on track.

This new transaction closely mirrors the previous Mansard transactions, with this particular one
securing 3,937 loans on UK properties, where 51.89% of the loans (52.51% of balance) were
granted for re-mortgage purposes. The pool includes 50.65% (55.22% by balance) of buy-to-let
mortgages, and 30.23% of the loans have been granted to self-certified borrowers. 77.37% of the
loans (83.64% by balance) are interest-only loans. The avarage outstanding balance is Stg139,700
and the WA LTV is 85.27%. Geographically, the top four regions (by number of loans) are: London
& Greater London 25.25%, North West 14.68%, South East 11.33%, and the West Midlands 8.48%


Compare/contrast: Farringdon 1, Mansard 2007-1, Eurosail-UK 2007-6 NC, Auburn 6
Farringdon Mortgages No. 1 plcMansard Mortgages 2007-1Eurosail-UK 2007-6 NC
Auburn Securities 6 plc