Atlas Funding 2025-1 PLC : 27 April 2025

Another (the fifth) stand-alone issue, where the Issuer will make payments on the Notes from payments of principal and revenue received from a portfolio comprising buy-to-let mortgage loans and their related security, originated by Lendco Limited and secured over residential properties located in England and Wales, and sold by Lendco to the Issuer on the Closing Date.

As at the closing date the portfolio consisted of 852 interest-only BTL first ranking mortgages, where the average current loan balance is £371,755 and the largest is for £2.730mln. All properties are with Full Internal and External Valuations. Borrowers: Company – 86.34%, Individuals – 13.16%. Loans by Rate Type: Fixed to Floating – 97.04%, Floating for life – 2.96%. The WA current LTV is 72.45% (original LTV was 72.46%) and the WA seasoning is 2.92 months. Additional information: self-employed – 9.57%. Regional distribution: London – 67.61%, South East – 12.19% and the North West – 4.77%.

EU & UK Risk Retention: On the Closing Date the Seller, as originator, will retain on an ongoing basis a material net economic interest of not less than 5% in the securitisation.

US Risk Retention: The Seller does not intend to retain at least 5% of the credit risk of the securitised assets for purposes of compliance with the US Risk Retention Rules, but rather intends to rely on an exemption provided for in Section 20 of the US Risk Retention Rules regarding non-US transactions.

STS: The Notes are not intended to be designated as a STS securitisation for the purposes of the UK Securitisation Regulation or the EU Securitisation Regulation.

Compare/contrast: Atlas Funding 2024-1, Hazel Residential plc, Together Asset Backed Securitisation 2025-CRE1 plc