Lanark Master Issuer 2018-1: 08 February 2018

Another issue via the Clydesdale Bank’s Master Trust programme, where the transaction is a revolving cash securitisation of prime residential mortgages extended to obligors located in the UK. The actual originators will be Clydesdale Bank plc and Yorkshire Bank Home Loans Ltd - a wholly owned subsidiary of Clydesdale Bank.

The portfolio comprises of first ranking prime mortgage loans to individuals secured by property located in the UK, comprising an aggregate current principal balance of £5.649bln. The mortgage loans in the cut-off date mortgage portfolio were originated between March 2001 and July 2017.

As of the closing date the aggregate principal amount outstanding of notes issued by the issuer (converted, where applicable, into sterling at the applicable specified currency exchange rate) will be:-

Class A notes ………………..£3,753,065,212
Class B notes ………………..£nil
Class C notes ………………..£nil
Class D notes ………………..£nil
Class E notes ………………..£nil
Class Z notes ………………. £752,522,000

The average current balance is £113,270. Type of repayment plan (by current balances): Repayment 81.07%, Interest Only 18.93%. Geographical distribution (by current balances): Scotland 25.18%, Yorks and Humber 17.16%, South East 15.58%, London 14.69% and the North West 8.47%. The WA original LTV was 72.30%, with a current LTV of 65.04%. WA seasoning is 45.76 months.


Compare/contrast: Lanark Master, Lannraig Master