Langton Securities (2008-1) PLC

The first issue off the recently established Langton programme, where the underlaying residential loans
will comprise of: loans which are subject to variable rates of interest, loans which are subject to fixed
rates of interest, and flexible loans which allow a borrower, in certain circumstances, to make overpay-
ments or underpayments, to take payment holidays and to make cash withdrawals.Future transactions,
(and substitution after the closing date) may include new types of loan products.

The initial portfolio was drawn up as at 11 November 2007 (the cut-off date) and comprised 75,561
mortgage accounts having an aggregate outstanding current balance of £7,859,896,693. The residential
mortgage loans were all originated by Alliance & Leicester plc and are secured over properties located in
England and Wales, Northern Ireland and Scotland. At the cut-off date, no loan in the portfolio was delin-
quent or non-performing. For this initial pool, the average WA LTV is 65.9%, with average seasoning of
26.7mnths.


Compare/contrast: Bracken Securities Plc, Fosse Master Issuer 2007-1