Avon Finance No.1 PLC: 04 August 2020

A stand-alone issue, where the Issuer will make payments on the notes from payments of principal and revenue received from a portfolio comprising loans the equitable or beneficial interest in which will be sold to the Issuer by Isle of Wight Home Loans Limited and which were purchased by the seller from Warwick Finance Residential Mortgages Number Two PLC, and originally originated by Platform Funding Limited or GMAC-RFC Limited and secured over residential properties located in England and Wales, Scotland and Northern Ireland.

At the cut-off date, the provisional pool comprises of 8,867 accounts (9,045 sub-accounts), where the average current account balance is £108,125 (sub-account = £105,997) and the largest current account is £864,176. Occupancy type (by current balances): owner-occupied – 73.32%, BTL – 26.68%. Repayment type: interest only – 83.10%, repayment – 16.90%. Loans in Arrears >= 3 month (% of Current Balance) – 4.66%. Restructuring Arrangement: Yes – 46.51%, No – 53.49%. The WA current LTV is 72.84%, (indexed = 56.68%) and the WA original LTV was 77.96%. The WA seasoning is 160.78 months. Regional concentration (by current balances): South East – 26.50%, London – 16.18%, North West – 11.40% and the West Midlands – 9.71%.

EU Risk Retention: On the Closing Date, Barclays Bank plc (the Retention Holder) will retain, as an originator, on an ongoing basis, a material net economic interest of not less than 5% in the securitisation in accordance with Article 6(1) of the Securitisation Regulation. As at the Closing Date, the Retention will comprise the Retention Holder holding no less than 5% of the nominal value of each Class of Notes sold or transferred to investors and the Principal Residual Certificates issued to the Seller.

US Risk Retention: The Retention Holder intends to satisfy the U.S. Credit Risk Retention Requirements by acquiring and retaining directly an eligible vertical interest (EVI) equal to a minimum of 5% of the nominal value of each Class of Notes and the Certificates issued by the Issuer on the Closing Date.

STS: The Notes are not intended to be designated as STS for the purposes of the Securitisation Regulation.

Compare/contrast: Warwick Finance Residential Mortgages No.2 (Redeemed), Tower Bridge Funding 2020-1, CMF 2020-1 plc