Atlas Funding 2025-2 PLC : 14 November 2025

Their sixth 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 747 interest-only BTL first ranking mortgages, where the average current loan balance is £381,421 and the largest is for £3.701mln. All properties are with Full Internal and External Valuations. Borrowers: Company – 84.24%, Individuals – 15.76%. Loans by Rate Type: Fixed to Floating – 94.77%, Floating – 3.97%, and Fixed for life – 1.26%. The WA current LTV is 71.42% (original LTV was 71.44%) and the WA seasoning is 3.53 months. Additional information: self-employed – 11.51%. Regional distribution: London – 60.91%, South East – 15.52% and the North West – 5.19%.

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: On or about the Closing Date, it is intended that a notification will be submitted to the FCA by Lendco, as originator, in accordance with SECN 2.5, confirming that the requirements of SECN 2.2.2R to SECN 2.2.29R for designation as a UK STS securitisation have been satisfied with respect to the Notes.

Compare/contrast: Atlas Funding 2025-1, Polaris 2025-3 plc, Meridian Funding 2025-1 plc