Atlas Funding 2026-1 PLC : 26 April 2026

Their seventh stand-alone issue (with currently five outstanding) 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 943 interest-only BTL first ranking mortgages, where the average current loan balance is £399,360 and the largest is for £3.281mln. All properties are with Full Internal and External Valuations. Borrowers: Company – 82.24%, Individuals – 17.76%. Loans by Rate Type: Fixed to Floating – 97.31%, Floating – 1.71%, Fixed for life – 0.99%. The WA current LTV is 71.54% (original LTV was 71.44%) and the WA seasoning is 29.64 months. Additional information: self-employed – 5.96%. Regional distribution: London – 63.77%, South East – 13.53%, the North West – 7.29%.

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 2025-2, Together Asset Backed Securitisation 15 2026-1ST1, Elvet Mortgages 2026-1