Arkle Master Issuer. Monthly Report January 2014

Transcription

1 Arkle Master Issuer Monthly Report January 214 This document is directed at persons in the UK and other EEA countries who are market counterparties and intermediate customers and may not be used or relied upon by private customers (as such terms are defined by the rules of the Financial Services Authority). thing in this document is, or is to be construed as, an offer of or invitation to subscribe for, underwrite or purchase securities in any jurisdiction. thing in this document constitutes an offer of securities for sale in the United States This report is for information purposes only and is not intended as an offer or invitation with respect to the purchase or sale of security. Reliance should not be placed on the information herein when making any decision whether to buy, hold or sell notes (or other securities) or for any other purpose. Correspondence Details Andy Titchen Senior Manager PO Box 81, Pendeford Business Park, Wolverhampton, WV9 5HZ For further information please refer to: Reporting data Reporting Date: 17 February 214 Reporting Period: 1 January 31 January 214 Accrual Period 18 vember February 214 Semi Annual Accrual Period 19 August February 214 Transaction Counterparties Role Agent Bank Calculation Agent Common Depository Principal Paying Agent Registrar / Transfer Agent Security / te Trustee Account Bank Seller Servicer Cash Manager / Issuer Cash Manager Start Up Loan Provider Funding 1 Swap Provider Issuer Swap Providers Arranger & Dealer Name Bank of New York Mellon Bank of New York Mellon Bank of New York Mellon Bank of New York Mellon Bank of New York Mellon Bank of New York Mellon Natixis, Page 1 of 16

2 Mortgage Trust Assets Current Period Previous Period Number of Mortgage Accounts in portfolio 191, ,85 Current Balance Mortgage Accounts 17,776,582,861 18,,447,77 Current Balance Trust Cash Current Balance Other Assets Total Trust Assets Arkle Master Issuer Monthly Report January 214 Mortgage Asset Data 261,865, ,218,477 18,38,448,582 18,267,666,184 Mortgage Collections in month Number of Mortgage Assets repurchased from portfolio by Lloyds in month Balance of Mortgage Assets repurchased from portfolio by Lloyds in month Additions current period (Number) Additions current period (Current Balance) Additions to date (Number) Additions to date (Current Balance) 229,91, ,61, ,96,779 12,15, ,61 422,61 47,784,14,894 47,784,14,894 Funding 1 Share Current Period Previous Period Funding 1 Intercompany Loans 7,99,588,766 7,99,588,766 Funding 1 Z Loan Balance 1,438,6, 1,438,6, Funding 1 Cash Accumulation Ledger 1,8,124, ,887,112 Funding 1 Principal Ledger Funding 1 Principal Deficiency Ledger 646, ,754 Funding 1 Share Start of period 8,42,418,485 8,649,975,899 Funding 1 Share Percentage 47.37% 48.5% Seller Share 9,356,164,376 9,35,471,88 Seller Share Percentage 52.63% 51.95% Minimum Seller Share Percentage 6.2% 6.3% Funding 1 Assets Current Period Previous Period Funding 1 Reserve Required Amount 291,3, 291,3, Funding 1 Reserve 291,3, 291,3, Funding 1 Yield Reserve 38,49,665 38,49,665 Funding 1 Cash Accumulation Ledger 1,8,124, ,887,112 Funding 1 Principal Ledger Funding 1 Revenue receipts awaiting distribution (including unspent start up expenses) Funding 1 Retained profit 36,42,364 18,17,421 39,13 39,13 Funding 1 Bank Balance Period end 1,715,555,18 1,468,446,212 Page 2 of 16

3 Arkle Master Issuer Monthly Report January 214 Mortgage Asset Data Pool Yield Current Period Previous Period Weighted Average Pre Swap Mortgage Yield 2.47% 2.5% Weighted Average Post Swap Mortgage Yield (over 3m LIBOR) 1.91% 1.91% Minimum Post Swap Mortgage Yield (over 3m LIBOR) 1.45% 1.45% CPR / PPR Single Month (annualised) Unscheduled Principal Repayments Repurchased by Lloyds Total CPR Scheduled Principal Repayments Total PPR (annualised) Unscheduled Principal Repayments Repurchased by Lloyds Total CPR Scheduled Principal Repayments Total PPR Current Period Previous Period 9.35% 1.82% 2.11%.79% 11.27% 11.53% 3.4% 2.86% 14.% 14.9% 1.26% 1.62% 1.48% 2.3% 11.6% 12.7% 2.92% 14.21% 2.88% 15.24% Product Breakdown Fixed Rate Loans (by balance) Discretionary Rate based Loans (by balance) Tracker Rate Loans (by balance) Current Period 4.72% 82.94% 12.34% Previous Period 4.69% 83.1% 12.3% Total 1.% 1.% Mortgage Analysis Loan Seasoning (Months) Loan Remaining Term (Years) Mortgage Account Balance Original LTV of Accounts Current Indexed LTV of Accounts Weighted Average * Minimum Maximum ,724 14, , %.% 125.% 6.37%.% % * Weighted Averages are weighted by Current Balance. For Mortgage Account Balance, a simple average is reported. Discretionary Rates Standard Variable Rate Homeowner Variable Rate Rate 2.5% 3.99% Effective Date of Last Change Apr9 Jul1 Page 3 of 16

4 Arkle Master Issuer Monthly Report January 214 Mortgage Asset Data Geographic Analysis East Anglia East Midlands Greater rthern rth West Scotland South East South West Wales West Midlands Yorkshire & Humberside Total Seasoning of Loans to <12 months 12 to <24 months 24 to <36 months 36 to <48 months 48 to <6 months 6 to <72 months 72 to <84 months 84 to <96 months 96 to <18 months 18 to <12 months =>12 months Total Number of Mortgage Accounts % of Total of Mortgage Accounts Current Balance ( ) % of Current Balance 8,6 4.18% 654,374, % 13, % 1,43,528, % 19, % 2,963,942, % 11, % 718,686, % 18, % 1,377,716, % 3,93 2.4% 337,938,84 1.9% 38, % 4,332,926, % 26, % 2,467,67, % 11, % 85,947, % 25, % 2,31,926, % 14, % 1,41,924, % 191,715 1.% 17,776,582,861 1.% Number of Mortgage Loans % of Total of Mortgage Loans Current Balance ( ) % of Current Balance 3,78.75% 118,33,658.67% 1,53.38% 67,53,96.38% 273.7% 11,495,326.6% 79.2% 2,568,558.1% 15, % 797,695, % 17, % 1,27,327, % 47, % 2,874,787, % 73, % 4,62,467, % 54, % 2,841,419, % 54, % 2,283,322, % 139, % 3,689,664, % 47,788 1.% 17,776,582,861 1.% Repayment Terms Number of Mortgage Loans % of Total of Mortgage Loans Current Balance ( ) % of Current Balance Interest Only Repayment Total 157,436 25,352 47, % 61.39% 1.% 9,87,867,614 7,968,715,247 17,776,582, % 44.83% 1.% Page 4 of 16

5 Arkle Master Issuer Monthly Report January 214 Mortgage Asset Data Outstanding Balances < 25, Number of Mortgage Accounts % of Total of Mortgage Accounts Current Balance ( ) % of Current Balance 34, % 446,862, % 25, to < 5, 5, to < 75, 75, to < 1, 1, to < 125, 125, to < 15, 15, to < 175, 175, to < 2, 2, to < 225, 225, to < 25, 25, to < 275, 275, to < 3, 3, to < 325, 325, to < 35, 35, to < 375, 375, to < 4, => 4, Years to Maturity to <5 years 5 to <1 years 1 to <15 years 15 to <2 years 2 to <25 years 25 to <3 years 3 to <35 years => 35 years 35, % 1,319,463, % 3, % 1,99,712, % 25, % 2,245,482, % 2,5 1.43% 2,239,17, % 13, % 1,98,852, % 9,26 4.8% 1,487,42, % 5, % 1,117,681, % 4, % 859,543, % 2, % 691,726, % 2,89 1.9%. 545,987, % 1,523.79% 437,661, % 1,112.58% 346,94,427 2, % 1,472,458, % Total 191,715 1.% 17,776,582,861 1.% Number of Mortgage Loans % of Total of Mortgage Loans Current Balance ( ) % of Current Balance 68, % 1,655,423, % 116, % 5,59,183,643 2,846,54, % 22, % 1,312,757, % 9, % 532,37,432 1,837.45% 17,978,655 Total 47,788 1.% 17,776,582,861 1.% 1.95% % 287,472, % % 26,819, % % 2,613, % 87, % 11, % 6,261,416, % 35.22% 2.99%.61% 15.% 948,221.1% Page 5 of 16

6 Indexed Loan to Value Ratios % to 25% > 25% to 5% 51,994 > 1% Arkle Master Issuer Monthly Report January 214 Mortgage Asset Data Number of Mortgage Accounts % of Total of Mortgage Accounts Current Balance ( ) % of Current Balance 56, % 1,719,15,6 9.67% 27.12% 4,274,879,3 24.5% > 5% to 55% 9, % 1,52,16, % > 55% to 6% 9, % 1,145,69, % > 6% to 65% 9, % 1,249,173, % > 65% to 7% 1, % 1,396,18, % > 7% to 75% 9, % 1,417,346, % > 75% to 8% 8, % 1,325,26, % > 8% to 85% 7, % 1,175,921, % > 85% to 9% 6, % 1,25,929, % > 9% to 95% 4, % 792,25, % > 95% to 1% 3, % 565,35, % 3, % 638,171, % Total 191,715 1.% 17,776,582,861 1.% Original Loan to Value Ratios Number of Mortgage Accounts % of Total of Mortgage Accounts Current Balance ( ) % of Current Balance % to 25% 12, % 44,859, % > 25% to 5% 38, % 2,165,68, % > 5% to 55% 9, % 682,776, % > 55% to 6% 11, % 939,873, % > 6% to 65% 9, % 85,168, % > 65% to 7% 11, % 1,98,121, % > 7% to 75% 14, % 1,644,956, % > 75% to 8% 15, % 1,751,257, % > 8% to 85% 12, % 1,433,191, % > 85% to 9% 29, % 3,868,85, % > 9% to 95% 27, % 2,828,47, % > 95% to 1% 82.43% 97,526,393.55% > 1% 177.9% 1,922,321.6% Total 191,715 1.% 17,776,582,861 1.% Page 6 of 16

7 Distribution of Fixed Rate Loans.% 2.99% 3.% 3.99% Arkle Master Issuer Monthly Report January 214 Mortgage Asset Data Number of Mortgage Loans % of Total of Mortgage Loans Current Balance ( ) % of Current Balance % 34,844, % 2, % 89,424, % 4.% 4.99% 5.% 5.99% 6.% 6.99% 4, % 17,839,751 8, % 281,551,2 6, % 258,384, % 33.56% 3.8% 7.% 7.99% 12.47% 3,885,125.46% Total 21,836 1.% 838,929,49 1.% Year Current Fixed Rate Ends Number of Mortgage Loans % of Total of Mortgage Loans Current Balance ( ) % of Current Balance % , % 491,877, % 4, % 149,339,2 17.8% 3, % 19,4, % 1,452 5,38,939.63% 6.65% 52,994, % % 3,368, % Total 21,836 1.% 838,929,49 1.% Origination Channel Direct Number of Mortgage Loans % of Total of Mortgage Loans 286,2 7.13% Current Balance ( ) 9,963,721,13 % of Current Balance 56.5% Introduced 121, % 7,812,861, % Total 47,788 1.% 17,776,582,861 1.% Purpose of Loan Number of Mortgage Loans % of Total of Mortgage Loans Current Balance ( ) Purchase 257, % 1,688,399,176 Remortgage 149, % 7,88,183,684 Total 47,788 1.% 17,776,582,861 % of Current Balance 6.13% 39.87% 1.% Page 7 of 16

8 Arkle Master Issuer Monthly Report January 214 Arrears and Repossessions Arrears Analysis of n Repossessed Mortgage Accounts Month(s) In Arrears Current to < 1 Number of Mortgage Accounts 186,266 % of Total of Mortgage Accounts 97.19% Current Balance ( ) 17,177,87,455 % of Current Balance 96.67% Arrears Balance ( ) 481,779 1 to < 2 2, % 227,976, % 1,33,561 2 to < 3 3 to < % 9,423,215.51% 1,14,368 1,178.61% 131,472,118.74% 2,647,36 6 to < % 56,57,869.32% 1,685,217 9 to < % 27,747,93.16% 1,32, % 58,644,785.32% 4,76,126 Total 191,654 1.% 17,77,192,221 1.% 13,14,724 Capitalised Arrears Arrears Capitalised in Month Current Period ( ) Previous Period ( ) 264, ,483 Repossessions Properties in Possession (at period end) Repossessed (current period) Properties returned to borrower (current period) Sold (current period) Number of Accounts Current Balance ( ) * Arrears Balance ( ) 61 6,466,24 286, ,32,582 67, ,618 Repossessed (programme to date) Properties returned to borrower (programme to date) Sold (programme to date) 2,486 33,826,39 18,533, ,674,355 19,52 2,393 22,478,63 * Where a repossessed property is in the process of being sold this balance excludes transactions associated with the sale. Losses (Current Period) Value ( ) Losses (Programme to date) Value ( ) Number with Loss Current Balance at sale date 1,428,945 Losses following possession sale (programme to date) 68,45,914 1,843 Net Proceeds of Sale 1,297,36 Losses following borrower sale with shortfall (programme to date) 2,279, Losses following possession sale (current period) 131,639 Recoveries (programme to date) 861,131 Losses following borrower sale with shortfall (current period) Net losses (programme to date) 69,464, 1,938 Recoveries (current period) 11,841 Net losses (current period) 119,798 Page 8 of 16

9 Arkle Master Issuer Monthly Report January 214 Waterfall Revenue Waterfall Principal Waterfall Master Trust v13 Dec13 Jan14 Total Master Trust Mortgage Revenue Receipts 37,35,7 37,93,239 37,21, ,256,739 v13 GIC Interest 5,799 51,213 47,991 15,3 Dec13 Sub Total 37,355,86 37,981,452 37,69, ,46,742 Jan14 Administration Fees Paid 1,214,46 1,238,591 1,223,44 3,676,41 Total Available Revenue 36,141,41 36,742,861 35,846,44 18,73,72 Allocated to Seller Allocated to Funding 1 Seller Share.5 18,66,598 19,37,988 19,77,855 57,46,441 Funder Share 17,48,83 17,434,873 16,768,585 51,684,261 Principal Received 24,333, ,237,25 224,796, ,367,37 24,333, ,33,262 Funding 1 / Issuer Receipts in previous quarter Swap Payment Funding 1 / Issuer Cash Accumulation Ledger b/f Principal Ledger b/f GIC Interest Receipts from Master Trust * Yield Reserve Drawing Release of unspent start up loan Funding 1 Expenses Cash Manager Fees te Interest Payments Amount ( ) PDL replenishment in period Refinancing Contribution Paid in period Cash Accumulation Ledger at period end Principal Ledger at period end Amount ( ) 778,887, ,237,25 1,8,124,138 Loss Coverage Retained Profit Excess of available receipts Yield Reserve Balance b/f Added in period Released in period Balance c/f Amount ( ) 38,49,665 38,49,665 * This includes monies received during the month relating to the previous month's Master Trust principal waterfall. Page 9 of 16

10 211 Issued 1th May 21 Arkle Master Issuer Monthly Report January 214 tes Issued Series Series 3 Series 3 Series 4 Series 5 Series 5 Series 5 Series 5 Class A1 A2 A A B M C ISIN : Reg S XS XS XS XS XS XS XS ISIN: 144a US41239BV58 Stock Exchange Listing Original Rating (Moody's/S&P/Fitch) Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aa3 (sf) / AA (sf) / AA sf A2 (sf) / A (sf) / A sf Baa2 (sf) / BBB (sf) / BBB sf Current Rating (Moody's/S&P/Fitch) Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aa3 (sf) / AA (sf) / AA sf A2 (sf) / A (sf) / A sf Baa2 (sf) / BBB (sf) / BBB sf Currency Euros US Dollars Sterling Sterling Sterling Sterling Sterling Issuance Tranche Size 65,, $4,, 2,, 4,, 23,, 45,, 125,, Current Tranche Size 65,, $4,, 2,, 4,, 23,, 45,, 125,, Equivalent 566,475, 261,882,938 2,, 4,, 23,, 45,, 125,, Exchange Rate Frequency Semiannually Benchmark 3m Euribor 3m US$ Libor 3m Libor Fixed 3m Libor 3m Libor 3m Libor Rate Fixing.217%.23845%.5246%.5246%.5246%.5246% Funding 1 Assets 1.25% 1.25% 1.25%.12%.12%.12% Allin rate 1.467% % % 4.681%.6446%.6446%.6446% Last interest payment date 18v13 18v13 18v13 19Aug13 18v13 18v13 18v13 Expected Interest Amount 2,425,15. $1,53, , ,38. 71, ,45. Interest Amount Paid 2,425,15. $1,53, , ,38. 71, ,45. Interest Shortfall. $. Cumulative Interest Shortfall. $. Next Interest Payment Date 18Feb14 18Feb14 18Feb14 18Feb14 18Feb14 18Feb14 18Feb14 Bond Type Bullet Redemption Bullet Redemption Bullet Redemption Bullet Redemption Passthrough Passthrough Passthrough Expected Maturity Date Feb15 Feb15 Feb15 Feb17 Feb17 Feb17 Feb17 Expected Principal Amount Principal Amount Paid Principal Shortfall Cumulative Principal Shortfall Legal Final Maturity Date May6 May6 May6 May6 May6 May6 May6 Page 1 of 16

11 212 Issued 21st October 21 Series Series 2 Series 3 Series 4 Class A A A ISIN : Reg S XS XS XS ISIN: 144a US41239CG72 Stock Exchange Listing Original Rating (Moody's/S&P/Fitch) Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Current Rating (Moody's/S&P/Fitch) Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Currency Euros Sterling Sterling Issuance Tranche Size 8,, 1,25,, 4,, Current Tranche Size 8,, 1,25,, 4,, Equivalent 699,6, 1,25,, 4,, Exchange Rate Frequency Semiannually Benchmark 3m Euribor 3m Libor Fixed Rate Fixing.217%.5246% Margin 1.5% 1.55% Allin rate 1.717% 2.746% 3.986% Last interest payment date 18v13 18v13 19Aug13 Expected Interest Amount 3,49, ,431,. Interest Amount Paid 3,49, ,431,. Interest Shortfall.. Cumulative Interest Shortfall.. Next Interest Payment Date 18Feb14 18Feb14 18Feb14 Bond Type Bullet Redemption Bullet Redemption Bullet Redemption Expected Maturity Date Aug15 Aug16 Aug17 Expected Principal Amount Principal Amount Paid Principal Shortfall Cumulative Principal Shortfall Legal Final Maturity Date May6 May6 May6 Arkle Master Issuer Monthly Report January 214 tes Issued Page 11 of 16

12 Arkle Master Issuer Monthly Report January 214 tes Issued 2111 Issued 27th July 211 Series Series 3 Series 3 Series 3 Class A1 A2 A3 ISIN : Reg S XS XS XS ISIN: 144a US41239CM41 Stock Exchange Listing Original Rating (Moody's/S&P/Fitch) Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Current Rating (Moody's/S&P/Fitch) Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Currency US Dollars Sterling Sterling Issue Tranche Size $47,, Current Tranche Size $47,, Equivalent 289,337,62 3,, 3,, 25,, 25,, 3,, 25,, Exchange Rate Frequency Benchmark 3m US$ Libor 3m Libor 3m Libor Rate Fixing.23845%.5246%.5246% Margin 1.45% 1.45% 1.45% Allin rate % % % Last interest payment date 18v13 18v13 18v13 Expected Interest Amount $2,35, ,468,62. 1,223,85. Interest Amount Paid $2,35, ,468,62. 1,223,85. Interest Shortfall $. Cumulative Interest Shortfall $. Next Interest Payment Date 18Feb14 18Feb14 18Feb14 Bond Type Bullet Redemption Bullet Redemption Bullet Redemption Expected Maturity Date Aug15 Aug15 Aug15 Expected Principal Amount Principal Amount Paid Principal Shortfall Cumulative Principal Shortfall Legal Final Maturity Date May6 May6 May6 Page 12 of 16

13 Arkle Master Issuer Monthly Report January 214 tes Issued 2121 Issued 14th February 212 Series Series 2 Series 2 Series 2 Series 2 Series 3 Series 4 Class A1 A2 A3 A4 A1 A ISIN : Reg S XS XS XS XS XS XS74432 ISIN: 144a US41239CP71 XS XS XS XS XS Stock Exchange Listing Original Rating (Moody's/S&P/Fitch) Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Current Rating (Moody's/S&P/Fitch) Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Aaa (sf) / AAA (sf) / AAA sf Currency US Dollars Euros Japanese Yen Sterling Sterling Sterling Issue Tranche Size $1,1,, 1,3,,. 6,,, 2,, 3,, 2,, Current Tranche Size $1,1,, 1,3,,. 6,,, 2,, 3,, 2,, Equivalent 696,819,967 1,78,74, 497,733,259 2,, 3,, 2,, Exchange Rate Frequency Benchmark 3m US$ Libor 3m Euribor 3m JPY Libor 3m Libor 3m Libor 3m Libor Rate Fixing.23845%.217%.14286%.5246%.5246%.5246% Margin 1.7% 1.5% 1.25% 1.75% 1.85% 1.85% Allin rate % 1.717% % % % % Last interest payment date 18v13 18v13 18v13 18v13 18v13 18v13 Expected Interest Amount $5,458, ,671, ,91,667 1,128,68. 1,767,81. 1,178,54. Interest Amount Paid $5,458, ,671, ,91,667 1,128,68. 1,767,81. 1,178,54. Interest Shortfall $.. Cumulative Interest Shortfall $.. Next Interest Payment Date 18Feb14 18Feb14 18Feb14 18Feb14 18Feb14 18Feb14 Bond Type Scheduled Redemption Scheduled Redemption Scheduled Redemption Scheduled Redemption Scheduled Redemption Scheduled Redemption Expected Maturity Date May14,May15,v15 May14,May15,v15 May14,May15,v15 May14,May15,v15 Aug17,v17 Aug21,v21 Expected Principal Amount Principal Amount Paid Principal Shortfall Cumulative Principal Shortfall Legal Final Maturity Date May6 May6 May6 May6 May6 May6 Page 13 of 16

14 Arkle Master Issuer Monthly Report January 214 Swaps and Credit Enhancement Funding Entity Swaps Funding Company Party A Payments* Party B Payments* Swap Provider Party A Swap Provider Party B Currency tional Amount Blended Rate in Period Payment in period Collateral posted Currency tional Amount Blended Rate in Period Payment in period Funding 1 Lloyds Funding 1 GBP.% GBP.% * Calculation based on the Funding 1 share of performing loans. Issuing Entity Swaps Issue & Class Party A Payments Party B Payments Swap Provider Party A Swap Provider Party B Currency tional Amount Reference Rate Margin Payment in period Collateral posted Currency tional Amount Reference rate Margin Payment in period 211 3A1 Lloyds Arkle Master Issuer EUR 65,, 3m EURIBOR 1.25% GBP 566,475, 3m LIBOR 1.572% 211 3A2 Lloyds Arkle Master Issuer USD $4,, 3m US $ LIBOR 1.25% GBP 261,882,938 3m LIBOR 1.36% 211 5A Lloyds Arkle Master Issuer GBP 4,, Fixed 4.681% GBP 4,, 3m LIBOR 1.831% 212 2A Lloyds Arkle Master Issuer EUR 8,, 3m EURIBOR 1.5% GBP 699,6, 3m LIBOR 1.949% 212 4A Lloyds Arkle Master Issuer GBP 4,, Fixed 3.986% GBP 4,, 3m LIBOR 2.52% A1 Lloyds Arkle Master Issuer USD $47,, 3m $ LIBOR 1.45% GBP 289,337,62 3m LIBOR 1.747% A1 Lloyds Arkle Master Issuer USD $1,1,, 3m $ LIBOR 1.7% GBP 696,819,967 3m LIBOR 1.745% A2 Lloyds Arkle Master Issuer EUR 8,, 3m EURIBOR 1.5% GBP 663,84, 3m LIBOR 2.8% A2 Natixis Arkle Master Issuer EUR 5,, 3m EURIBOR 1.5% GBP 414,9, 3m LIBOR 2.41% A3 Lloyds Arkle Master Issuer JPY 6,,, 3m JPY LIBOR 1.25% GBP 497,733,259 3m LIBOR 1.966% A2 Lloyds Arkle Master Issuer EUR 6,, 3m EURIBOR 1.5% GBP 497,88, 3m LIBOR 1.931% Credit Enhancement Reserve Z Loan Current tes Outstanding Current te Fund Balance Balance Subordination Class (at swap rates) % of Total Subordination as % of tes as % of tes as % of tes A 7,59,588, % 5.1% 3.65% 18.% 26.66% B 23,, 2.88% 2.13% 3.65% 18.% 23.78% M 45,,.56% 1.56% 3.65% 18.% 23.21% C 125,, 1.56%.% 3.65% 18.% 21.65% 7,99,588,766 1.% Excess Spread Excess spread month (annualised) Excess spread last quarter (annualised) Excess spread last year Current Period.42%.43%.54% Previous Period.44%.46%.57% Liquidity Facility Liquidity Reserve Required Amount Liquidity Reserve Current balance Current Period ( ) Previous Period ( ) Page 14 of 16

15 Arkle Master Issuer Monthly Report January 214 Ratings and Triggers Rating Triggers Required Rating* Current Rating Parties to the Transaction Name (Moody's/S&P/Fitch) (Moody's/S&P/Fitch) Breached Consequences Account Bank Short Term: P1/A1/F1 Long Term: A2/AA/A P1/A1/F1 A2/A/A Yes * Servicer Short Term: /A2/ Long Term: Baa3/ /BBB /A1/ A2/ /A Funding 1 Swap Provider Short Term: P1/A1/F1 Long Term: A2/A/A P1/A1/F1 A2/A/A Issuer Swap Providers Natixis, Short Term: P1/A1/F1 Long Term: A2/A/A P1/A1/F1 A2/A/A Termination Event pursuant to the Bank Account Agreement, unless such downgrade is remedied in accordance with the terms of the Bank Account Rating trigger on Servicer is linked to segregation of files and title deeds Requirement to post collateral and confirm subsequent actions with the relevant rating agencies Requirement to post collateral and confirm subsequent actions with the relevant rating agencies Short Term: P1/A1/F1 P1/A1/F1 Long term: A2/A/A A2/A/A * This breach does not lead to a Termination Event as the Termination Event has been remedied in accordance with the Bank Account Agreement. Asset and n Asset Triggers Requirement to post collateral and confirm subsequent actions with the relevant Trigger Type Trigger Event Breached Asset Trigger: Debit to the AAA PDL n Asset Triggers: Insolvency of Seller Servicer Termination Seller Share below minimum Trust size below minimum Consequences If there is a trigger event, principal and interest are paid monthly and all series of notes become passthrough. In the event of a non asset trigger event, all principal receipts are diverted to Funding 1 until its share in the Trust is reduced to zero. Substitution and Other Tests Tests Limit at which action needs to be taken Breached Interest only percentage Must not exceed 55% Post Swap Yield Must exceed 3m LIBOR + 145bp Arrears trigger 3 Total arrears as a percentage of gross interest must not exceed 2% S&P (at AAA level) Must not exceed the product of the WAFF and WALS as at the most recent closing date, plus.25 Fitch WA OLTV Must not exceed the value as at the most recent closing date, plus 4% Fitch OLTV >8% Must not exceed the value as at the most recent closing date, plus 3% Fitch WA CLTV Must not exceed the value as at the most recent closing date, plus 2% WA Debt to Income Ratio Must not exceed the value as at the most recent closing date, plus.2% Moody s portfolio variation test Must not exceed the most recent value calculated by Moodys, plus.3% Yes Consequences Qualifying product switches to be repurchased from January 214. If there is a breach of any of these portfolio level tests, no further loan sales can take place into the portfolio without specific Rating Agency consent. General Reserve Step Up Triggers Tests Level Arrears trigger 1 9+ days arrears exceeds 3% Arrears trigger 2 Total arrears as a percentage of gross interest exceeds 3% Step Up Trigger Any notes not paid on step up date Breached Consequences If there is a breach of any of these triggers, the required balance of the General Reserve Fund will step up. * Next trigger event at which action is required Page 15 of 16

16 Arrears Arrears Capitalisation Policy Monthly Constant Prepayment Rate (CPR/PPR) CPR / PPR Current Balance Expected Maturity Date Mortgage Account / Loan Mortgage Collections Origination Channel Purpose of Loan Original LTV Loan Seasoning Remaining Term Indexed LTV Indexed Valuation Excess Spread Product Balance Pre/Post Swap Mortgage Yield Arkle Master Issuer Monthly Report January 214 Monthly CPR on any trust calculation date means the total unscheduled principal receipts received during the period of one month ending on that trust calculation date divided by the aggregate current balance of the loans comprised in the trust property as at the immediately preceding trust calculation date. Unscheduled Principal Repayments comprise payments from Lloyds for the repurchase of loans from the portfolio, and capital repayments and redemptions other than those received at the expected term end date of the loan. The average of the three most recent monthly annualised CPR / PPR expressed as a percentage. In relation to any Loan at any date (the current balance determination date), the aggregate at such date (but avoiding double counting) of: (i) the Initial Advance; (ii) Further Advances and/or Flexible Loan Drawings; (iii) Capitalised Expenses; (iv) Capitalised Interest; and Glossary Arrears are calculated in accordance with standard market practice in the UK. A mortgage is identified as being in arrears when, on any due date, the overdue amounts which were due on previous due dates equal, in the aggregate, one or more full monthly payments. In making an arrears determination, the servicer calculates as of the date of determination the difference between the sum of all monthly payments that were due and payable by a borrower on any due date up to that date of determination (less the aggregate amount of all authorised underpayments made by such borrower up to such date of determination) and the sum of all payments actually made by that borrower up to that date of determination. If the result arrived at by dividing that difference (if any) by the amount of the required monthly payment equals or exceeds 1 the account is deemed to be in arrears. Arrears classification is determined based on the number of equivalent full current monthly payments that have been missed. A borrower that has missed payments that in the aggregate equal or exceeding 2 monthly payments (but for which the aggregate of missed payments is less than 3 monthly payments) would be classified as being 2 to <3 months in arrears, and so on. We will consider capitalising arrears where a customer has made at least 6 consecutive full repayments since the last missed payment and the customer has provided consent for the capitalisation. Monthly PPR on any trust calculation date means the total scheduled and unscheduled principal receipts received during the period of one month ending on that trust calculation date divided by the aggregate current balance of the loans comprised in the trust property as at the immediately preceding trust calculation date. These are annualised using the formula: 1((1M)^12) where M is the monthly CPR or PPR expressed as a percentage. Please note that CPR, as defined in the programme documentation, and as previously reported in the Investor Reports, corresponds with PPR in this revised format Investor Report. (v) all expenses, charges, fees, premium or payment due and owing by the Borrower which have not yet been capitalised, in each case relating to such Loan less all prepayments, repayments or payments of any of the foregoing made on or prior to the current balance determination date; and in relation to any Mortgage Account at the current balance determination date, the aggregate at such date of the Current Balance in respect of each Loan comprised in the relevant Mortgage Account The date or dates when principal is scheduled to be repaid on bullet and scheduled amortisation notes and from when principal becomes payable on passthrough notes. A mortgage account consists of one or more loans secured, by way of equal ranking first charge, on the same property and thereby forming a single mortgage account. All cash receipts on a mortgage within the portfolio excluding monies paid by Lloyds in respect of loans repurchased from the portfolio. The origination channel of each loan. Direct origination includes loans originated in Lloyds branches, C&G branches, direct telephone sales and internet sales. Whether the purpose of the initial loan origination was to finance the purchase of a new property or to remortgage a property already owned by the borrower. Based on the original amount advanced on the date of the origination of the initial loan (excluding capitalised interest, high LTV fees, insurance fees, booking fees and valuation fees), divided by the value of the property securing the loans in that mortgage account at that date. The number of months since the date of origination of the loan. The number of remaining years of the term of each loan. The aggregate current balance of all loans within a mortgage account divided by the indexed valuation of the property securing the loans in that mortgage account at the reporting date. Indexation is applied on a regional basis to property valuations on a quarterly basis in January, April, July and October of each year using the Halifax House Price Index. Excess spread is equal to the Funding 1 available revenue receipts after the payment of senior fees, Funding 1 swap, interest on the intercompany loan tranches and replenishment of the reserve fund. This is divided by the notes in issuance at the end of the period, and annualised to give a percentage. Month end spot balance The pre swap mortgage yield is defined as the total revenue receipts generated by the mortgage assets in the period divided by the average mortgage balance for the period. Post Swap is after taking into account receipts/payments under the Funding 1 Interest rate swap Page 16 of 16