Eurosail Prime UK 2007-A

This will be the 10th Eurosail issue to come to market, and the 6th issue to be launched in 2007.
For this transaction, Lehman has securitised a pool of loans originated by Alliance & Leicester
for their Southern Pacific Mortgage Limited affiliate.

Of these first charge mortgage loans originated by A&L, 45.68% of the pool is made of self
certified loans and the remaining 54.32% of the pool are buy-to-let loans. However, unlike
previous Eurosail transactions ( 2007-4), there are no loans in this pool with county court
judgements, bankruptcy orders or individual voluntary arrangements. Over half (52.64%) of
loans are to borrowers with income multiples greater than 3.5x. Additionally, 51.77% of loans
by initial aggregate balance are made up of self-employed borrowers. First-time buyers make
up 20.29% of the loans by initial aggregate balance.

Some 75.20% of the loans in the pool are fixed rate loans that pay a discounted rate for the
fixed period, with all of the loans eventually being linked to the Bank of England base rate. The
pool is also highly concentrated within the London, the outer metro and southeast regions,
where 55.61% of the properties in the mortgage pool are located. The collateral has an average
LTV of 76.95%, and the weighted average seasoning of the pool is 5.21mnths.


Compare/contrast: Eurosail 2007-4 BL (UK), Eurohome UK Mortgages 2007-2,
Uropa Securities Plc (Series 2007-01B)
Eurosail 2007-4 BL (UK)Eurohome UK Mortgages 2007-2Uropa Securities Plc (Series 2007-01B)