Lusitano Mortgages No. 6 plc

As the series indicates, the sixth RMBS transaction from originator Banco Espírito Santo S.A. the
first deal having been launched as far back as Dec 2002 (all previous offering circulars available
on EuroABS).

As per the previous transactions, all the properties have been purchased for residential purposes,
are owner-occupied and are located in Portugal. All of the 9,693 borrowers (16,757 actual loans)
are Portuguese residents, and of this borrowers pool, 7.35% of the loans have been granted to
senior (citizen) borrowers, namely, aged over 50yrs or over. Additional, about 10% of the pool
represents self-employed borrowers, and 10.4% of the loans are secured by second homes.
However, 100% of the loans are performing and, as part of eligibility criteria, loans must have been
current for at least 24 months (Lusitano 4 & 5 featured seasoning of 21mnths).

The average size of outstanding loan is Eur113,486 and the largest loan in the pool is Eur345,336.
However, the portfolio backing the notes is characterised by high original LTV mortgage loans,
ranging between 80% to 100%. In fact, more than 50% of the pool falls within the 80% to 90% LTV
range, while some 40% falls in the 90% to 100% range. This all equates to a current WA LTV ratio
of 88.85%.


Compare/contrast: previous Lusitano transactions, Pelican Mortgages No. 3 plc, Hipototta No. 5 plc
Lusitano Mortgages No. 5 plcPelican Mortgages No. 3 plcHipototta No. 5 plc