Private Driver UK 2018-1: 02 April 2018

An issuance via the DRIVER UK Multi-Compartment S.A. programme.

Eligibility criteria (includes): that the purchase of the Receivables may not have the result that the Aggregate Discounted Receivables Balance of all Purchased Receivables exceeds the following concentration limits with respect to the percentage of Discounted Receivables Balance generated under Financing Contracts for used vehicles (concentration limit: 50.0%), and under Financing Contracts for non-VW group brand vehicles (concentration limit: 10.0%); that such Purchased Receivable is denominated and payable in Sterling; that no Purchased Receivable is overdue; that the related Financing Contracts have been entered into exclusively with Obligors which, if they are corporate entities have their registered office in England, Scotland or Wales or, if they are individuals have their place of residence in England, Scotland or Wales.

At the cut-off date (28 February 2018) the pool consisted of 67,642 financing contracts, where the average outstanding discounted receivables balance is £18,479 and the largest is for £270,301. Financial Product (by current discounted balances): PCP 93.66%, HP 6.34%. Distribution of New/used Vehicles: New 74.61%, Used 25.39%. Distribution by Customer Type: Retail 97.04%, Corporate 2.96%. The WA seasoning is 5.84 months.


CRR 405: The Seller will retain for the life of the transaction a material net economic interest of not less than 5% in the transaction in accordance with Article 405 of Regulation (EU) No 575/2013 of the European Parliament, Article 51 of Regulation (EU) No 231/2013 of 19 December 2012 and Article 254 of Regulation (EU) 2015/35 of 10 October 2014. Such interest will be comprised of an interest in randomly selected exposures, equivalent to no less than 5% of the nominal amount of the securitised exposures.


Compare/contrast: Private Driver UK 2016-1, Bavarian Sky UK 1 plc, Driver UK (Series Six)