Tower Bridge Funding 2026-1: 20 January 2026

This will be the fifteenth public securitisation from Belmont Green (see also under London Bridge) and, as per the earlier transactions, the Issuer will make payments on the Notes from payments of principal and revenue received from a portfolio comprising mortgage loans originated by BGFL, under its trading name Vida Homeloans, secured over residential properties located in England, Wales and Scotland. For the full list of lending criteria, please see the relevant section in the final offering circular.

At the cut-off date the provisional pool consisted of 3,215 loans, where the current average balance is £205,310 and the largest loan is for £1.498mln. All were subject to a full internal and external inspection. Occupancy type (by current balances): BTL - 70.57%, owner-occupied - 29.43%. Repayment type (by current balances): interest-only - 69.28%, repayment – 30.59%. Interest Rate type: fixed to floating - 100%. Loan purpose: purchase – 53.48%, re-mortgage – 45.14% and right to buy - 1.38%. The WA current LTV is 73.86% (original LTV 74.78%) and the WA seasoning is 24.74 months. Regional concentration: Greater London - 35.75%, South East - 13.87% and East of England - 11.13%. Additional information: self-employed account for 28.14% of balances; CCJs account for 11.90% of balances.

EU & UK Risk Retention: On the Issue Date, Vida Bank will undertake that it will retain on an ongoing basis as an originator, within the meaning of (a) the UK Securitisation Framework and (b) the EU Securitisation Regulation, a material net economic interest of not less than 5% in the securitisation. As at the Issue Date, the UK Retention Requirement and EU Retention Requirement will each be satisfied by Vida Bank holding the first loss tranche, so that the retention equals in total not less than 5% of the nominal value of the securitised exposures, comprising an interest in the Initial Principal Amount of the Z Notes which is at least equal to 5% of the nominal value of the Mortgage Pool as at the Issue Date.

US Risk Retention Rules: Vida Bank, as a “sponsor” for the purposes of the US Retention Rules, does not intend to retain at least 5% of the credit risk of the securitised assets for purposes of compliance with the US Retention Rules, but rather intends to rely on an exemption provided for in Section 20 of the US Retention Rules regarding certain foreign-related transactions.

STS: As at the Closing Date, no notification will be submitted to ESMA in accordance with Article 27.

Compare/contrast: Tower Bridge Funding 2024-3, London Bridge Mortgages 2025-1 plc, Meridian Funding 2025-1 plc