UK Mortgages Ltd Securitisation

 
TIDMUKML 
 
23 May 2016 
 
                             UK MORTGAGES LIMITED 
 
(a closed-ended investment company incorporated in Guernsey with registration 
number 60440) (a non-cellular company limited by shares incorporated in the 
Island of Guernsey under the Companies (Guernsey) Law 2008, as amended, with 
registered number 60440 and registered as a Registered Closed-ended Collective 
Investment Scheme with the Guernsey Financial Services Commission) 
 
Securitisation 
 
 
The Board of UK Mortgages Limited ("UKML") and TwentyFour Asset Management LLP 
("TwentyFour") are pleased to present Malt Hill No.1, a public securitisation 
backed by buy-to-let mortgages originated by Coventry Building Society Group 
("Coventry") and purchased in November 2015 by UK Mortgages Corporate Funding 
Designated Activity Company ("DAC"), the Acquiring Entity of UKML. 
 
The transaction was announced on 23rd May, with a view to price the Class A 
notes before the end of the week. The class A is partially pre-placed at 
launch, the class Z will be entirely retained by DAC, achieving CRR-compliant 
retention. 
 
The issuer will seek Bank of England and European Central Bank eligible status 
for the Class A. 
 
As at 31st March 2016, the securitised provisional portfolio had a current 
balance of GBP302,659,881.39 and comprised 1,703 borrowers, with an average loan 
to value of 62.53%. Coventry will remain as servicer for this portfolio of 
mortgages, resulting in a seamless transaction for the borrowers. 
 
 
For further information, please contact: 
 
Numis Securities Limited: 
 
Nathan Brown             +44 (0)20 7260 1000 
 
Hugh Jonathan 
 
TwentyFour Income Fund Limited: 
 
John Magrath              +44 (0)20 7015 8900 
 
Alistair Wilson 
 
 
 
END

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May 23, 2016 07:54 ET (11:54 GMT)

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