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 £302,659,881.39 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