NEWGATE FUNDING PLC - Irish Stock Exchange

Level: 8 – From: 8 – Wednesday, December 19, 2007 – 9:36 pm – mac8 – 3894 Section 01 : 3894 Section 01
“(vi)
Flats where there are more than five storeys in the block, except in London and the South East
where they can be referred to an Underwriting Team Leader or Credit Department;”
for this Series 2007-3 now reads:
“(vi)
Flats where there are more than eight storeys in the block, unless they are covered by a
certificate as mentioned in (c) above;”
(f)
on page 174 of the Offering Circular, the paragraph under the section “Term”:
“Each Loan must have an initial term of a maximum of 30 years subject to full repayment by the date
on which the Borrower reaches 75 years and 3 months of age and/or there being at least 35 years left
on a lease at the end of the term in the case of leasehold security.”
for this Series 2007-3 now reads:
“Each Loan must have an initial term of a maximum of 40 years subject to full repayment by the date
on which the Borrower reaches 75 years and 3 months (85 years for Buy to Let) of age and/or there
being at least 35 years left on a lease at the end of the term in the case of leasehold security.”
(g)
on page 175 of the Offering Circular, paragraph (d) under the section “Borrowers”:
“Where a County Court Judgment (or its Scottish or Northern Irish equivalent) other than a County
Court Judgement under £100 (a CCJ) registered by a preferred creditor, relating to a Borrower has
been revealed by the credit reference search or instalment arrears have been revealed by lenders’ or
landlords’ references or a Borrower has been subject to a Bankruptcy Order or its Scottish or Northern
Irish equivalent (a BO) or an Individual Voluntary Arrangement (an IVA), explanations must have
been provided (except in the case of CCJs unless such judgment related to preferred creditors). No
explanation is required for arrears.”
for this Series 2007-3 now reads:
“Where a County Court Judgment (or its Scottish or Northern Irish equivalent) other than a County
Court Judgement under £100 (a CCJ) registered by a preferred creditor, relating to a Borrower has
been revealed by the credit reference search or instalment arrears have been revealed by a lenders’ or
landlords’ references or a Borrower has been subject to an Individual Voluntary Arrangement (an
IVA), explanation must have been provided (except in the case of CCJs unless such judgment related
to preferred creditors). No explanation is required for arrears.”
(h)
on page 175 of the Offering Circular, paragraph (b) under the section “Income”:
“In the vast majority of cases, the principal amount advanced will not exceed three and one-half times
the assessed income of the Borrower or if more than one Borrower, three times the assessed income
of the primary Borrower plus one times the assessed income of any second, third or fourth
Borrower(s), or three times the combined assessed incomes of the primary and secondary Borrowers
plus one times the assessed income of any third or fourth Borrowers.”
for this Series 2007-3 now reads:
“The principal amount advanced will not exceed three and one-half times the assessed income of the
Borrower or if more than one Borrower, three times the assessed income of the primary Borrower plus
one times the assessed income of any second, third or fourth Borrower(s), or three times the combined
assessed incomes of the primary and secondary Borrowers plus one times the assessed income of any
third or fourth Borrowers.”
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