Tower Bridge Funding 2026-2: 25 July 2026

This will be the sixteenth 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 (31 May 2026) the provisional pool consisted of 3,235 loans, where the current average balance is £211,326 and the largest loan is for £1.984mln. All were subject to a full internal and external inspection. Occupancy type (by current balances): BTL - 70.41%, owner-occupied - 29.59%. Repayment type (by current balances): interest-only - 69.19%, repayment – 30.72%, P&P – 0.08%. Interest Rate type: fixed to floating - 100%. Loan purpose: purchase – 51.50%, re-mortgage – 47.61% and right to buy - 0.89%. The WA current LTV is 74.02% (original LTV 75.11%) and the WA seasoning is 24.74 months. Regional concentration: Greater London - 30.73%, South East - 15.17% and East of England - 11.63%. Additional information: self-employed account for 29.45% of balances; CCJs account for 9.93% of balances.

EU & UK Risk Retention: 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, nor to the FCA in accordance with UK SECN 2.5.

Compare/contrast: Tower Bridge Funding 2026-1, London Bridge Mortgages 2025-1 plc, Frontier Mortgage Funding 2026-1 plc