Lanark Master Issuer 2019-2: 09 June 2019

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.

Please note, the seller (as originator for the purposes of the Securitisation Regulation), has procured an STS notification to be submitted to the European Securities and Markets Association, in accordance with Article 27 of the Securitisation Regulation, and to the FCA, that the STS requirements have been satisfied with respect to the series 2019-2 notes.

The portfolio comprises first ranking prime mortgage loans to individuals secured by property located in the UK, comprising an aggregate current principal balance of £5.168bln. The mortgage loans in the mortgage portfolio at the cut-off date (31 January 2019) were originated between 6 November 2002 and 31 December 2018.

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 ………………..£3,901,857,560
Class B notes ………………..£nil
Class C notes ………………..£nil
Class D notes ………………..£nil
Class E notes ………………..£nil
Class Z notes ………………. £770,462,000

The average current balance is £124,114. Type of repayment plan (by current balances): Repayment 80.14%, Interest Only 19.86%. Geographical distribution (by current balances): Scotland 23.83%, South East 17.35%, Greater London 16.16%, Yorks and Humber 15.77% and the North West 8.37%. The WA original LTV was 72.91%, with a current LTV of 65.01%. WA seasoning is 45.65 months.


Compare/contrast: Lanark Master, Lannraig Master