NEWGATE FUNDING PLC - Irish Stock Exchange

Level: 8 – From: 8 – Wednesday, December 19, 2007 – 9:36 pm – mac8 – 3894 Section 01 : 3894 Section 01
Advance may constitute a breach by it of Principle 6 of the FSA Principles for Businesses in
the FSA Handbook.
For the avoidance of doubt, the above additional criteria applicable to Further Advances shall not
apply to Retentions.”
(l)
on page 179 of the Offering Circular, paragraph (c) under the section “Buy to Let Loans”:
“(c) that rental payment received by the Borrower in respect of the relevant Property is at least 100
per cent. of the Borrower’s monthly payment under the Loan after expiry of any initial discount
allowance; and”
for this Series 2007-3 now reads:
“(c) that rental payment received by the Borrower in respect of the relevant Property is at least 120
per cent. of the Borrower’s initial fixed or discounted monthly payment under the Loan on an
interest only basis;”
(m)
on page 179 of the Offering Circular, the following paragraph is inserted immediately after paragraph
(d) under the section “Buy to Let Loans”:
“(e)
the maximum age at the end of the term must be no more than 85 years.”
Credit Structure
In addition to the disclosure under “Credit Structure” in the Offering Circular, from the date hereof, to the
extent that there is any inconsistency between (a) any statement in this Supplement and (b) any other
statement in or incorporated by reference in the Offering Circular, the statements in this Supplement will
prevail.
(a)
on page 218 of the Offering Circular, paragraph (e) under the section “Series Permitted Withdrawals”:
“(e)
if any amount has been received from a Borrower for the express purpose of payment being
made by the Issuer to a third party for the provision of a service (including giving insurance
cover) to either that Borrower or the Issuer to pay such amount when due to such third party
or, in the case of the payment of an insurance premium, where such third party and a Series
Portfolio Seller have agreed that payment of commission to a Series Portfolio Seller should be
made by deduction from such insurance premium, to pay such amount less such commission
when due to such third party and to pay such commission to a Series Portfolio Seller;”
for this Series 2007-3 now reads as:
“(e)
if any amount has been received from a Borrower for the express purpose of payment being
made by the Issuer to a third party for the provision of a service (including giving insurance
cover) to either that Borrower or the Issuer, (i) to pay such amount when due to such third party
or, in the case of the payment of an insurance premium, where such third party and a Series
Portfolio Seller have agreed that payment of commission to a Series Portfolio Seller should be
made by deduction from such insurance premium, to pay such amount less such commission
when due to such third party and to pay such commission to a Series Portfolio Seller; or (ii) to
pay such amount as soon as reasonably practicable to the Series Mortgage Administrator if the
Series Mortgage Administrator has made such payments on behalf of the Issuer.”
(b)
on page 227 of the Offering Circular, the fifth paragraph under the section “Series Liquidity Facility
Agreements”:
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