Cheshire 2021-1 PLC (2025 Refinance): 01 December 2025

Essentially a re-financing of both the earlier Cheshire 2021-1 & Warwick Finance Residential Mortgages No.4 transactions.
A stand-alone issue, where the Issuer will make payments on the Notes, the Certificates and the VRR Loan Note from payments of principal and revenue received from two mortgage portfolios.
The first portfolio (the Cheshire Portfolio) comprises mortgage loans originated by (i) GMAC-RFC Limited (currently known as Paratus AMC Limited), Edeus Mortgage Creators Limited, Mortgages 1 Limited, Wave Lending Limited, Platform Funding Limited and (ii) Dukinfield Mortgages Limited, Citibank Trust Limited, Citibank International Limited, Citifinancial Europe PLC, Southern Pacific Mortgage Limited, Amber Homeloans Limited, and Rooftop Mortgages Limited, and secured over residential properties located in England, Wales, Scotland and Northern Ireland.
The second portfolio (the Warwick Portfolio) comprises mortgage loans originated by Platform Funding Limited, GMAC-RFC, Verso Limited, Kensington Mortgage Company Limited and Southern Pacific Mortgage Limited and secured over residential properties located in England and Wales, Scotland and Northern Ireland.

UK & EU Risk Retention: On the closing date, Citibank NA London branch will, as originator for the purposes of Article 6 of the EU Securitisation Regulation and Article 6 of the UK Securitisation Regulation, retain a material net economic interest of not less than 5% in the securitisation.

US Risk Retention: The Retention Holder intends to satisfy its obligations under the U.S. Credit Risk Retention Requirements by acquiring and retaining (directly or through a majority-owned affiliate), on the Closing Date, a "single vertical security" that is an "eligible vertical interest" in the Issuer in the form of the VRR Loan Note.
Compare/contrast: Cheshire 2021-1 PLC(Redeemed), Warwick Finance Residential Mortgages No.4(Redeemed)