Document:

EXHIBIT 10.5.1

                                                             Execution Version

                       GRANITE FINANCE TRUSTEES LIMITED

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                          SIXTH AMENDED AND RESTATED
                          MASTER DEFINITIONS SCHEDULE

                            Dated 24 September 2003

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                          SIDLEY AUSTIN BROWN & WOOD
                             1 THREADNEEDLE STREET
                                LONDON EC2R 8AW
                            TELEPHONE 020 7360 3600
                            FACSIMILE 020 7626 7937
                                  RRF: 620909

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            SIXTH AMENDED AND RESTATED MASTER DEFINITIONS SCHEDULE

1.      Definitions

Words and expressions used in any document which incorporates this clause or
to which this clause applies shall have the same meanings as are set out in
this Master Definitions Schedule except so far as the context requires
otherwise.

"1925 Act" means the Law of Property Act 1925;

"Accession Undertaking" means a Deed of Accession;

"Account Bank" means, in relation to the Mortgages Trustee or Funding, the
bank at which the Mortgages Trustee Bank Accounts or, in the case of Funding,
the Funding Bank Accounts are maintained from time to time, being (in the case
of the Mortgages Trustee) Lloyds TSB Bank plc, Jersey International Branch, 25
New Street, St. Helier, Jersey JE4 8ZE, Channel Islands or (in the case of
Funding) Lloyds TSB Bank plc, City Office, Bailey Drive, Gillingham Business
Park, Kent ME8 0LS or (in either case) any other Authorised Entity appointed
by the Mortgages Trustee or Funding in accordance with the Transaction
Documents;

"Accrued Interest" means, in respect of any Mortgage Loan as at any date (the
"relevant date"), the aggregate of all interest accrued but not yet due and
payable on such Mortgage Loan from and including the Monthly Payment Date
immediately preceding the relevant date until (but excluding) the relevant
date;

"Administration Agreement" means the agreement entered into on or before the
Initial Closing Date, between the Administrator, the Mortgages Trustee,
Funding, the Seller and the Security Trustee pursuant to which the
administrator agrees to provide administration services to the Mortgages
Trustee and the Beneficiaries in relation to the Mortgage Loans and their
Related Security comprised in the Mortgage Portfolio as may be amended,
restated, novated, varied or supplemented from time to time and shall include
any additional and/or replacement administration agreement entered into by
such parties from time to time;

"Administration Fee" has the meaning given to it in Clause 13.1
(Administration Fee) of the Administration Agreement;

"Administration Fee Rate" means 0.12% per annum (inclusive of VAT) on the
amount of the Funding Share of the Trust Property as determined on that
Distribution Date in respect of the then current Trust Calculation Period, but
only to the extent that the Mortgages Trustee has sufficient funds available
to pay such amount in accordance with the Mortgages Trustee Revenue Priority
of Payments or, at any time when the Administrator is not Northern Rock, such
other amount as set between such substitute administrator and the Mortgages
Trustee from time to time;

"Administration Procedures" means the administration, arrears and enforcement
policies and procedures forming part of the Seller's Policy from time to time
or, at any time when the Administrator is not also the Seller, the policies
and procedures from time to time which would be adopted by a reasonable,
prudent mortgage lender and, in either case, shall include the services set
out in Schedule 1 to the Administration Agreement;

"Administrator" means Northern Rock or such other person as may from time to
time be appointed

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as administrator of the Mortgage Portfolio pursuant to the Administration
Agreement;

"Administrator Termination Event" means any of the events specified in Clause
19 (Termination) of the Administration Agreement;

"Alternative Insurance Requirements" means the Seller's standard document
entitled Alternative Insurance Requirements, and any other document containing
similar recommendations or requirements which is sent to Borrowers in
accordance with the Administration Procedures;

"Arrears of Interest" means as at any date and in relation to any Mortgage
Loan, interest (other than Capitalised Interest or Accrued Interest) on such
Mortgage Loan which is currently due and payable on such date;

"Asset Trigger Event" means the event that occurs when an amount is debited to
the Class A Principal Deficiency Sub Ledger established for any Issuer with
respect to the Class A Notes of that Issuer;

"Assignment Date" means the date of assignment of any New Mortgage Portfolio
to the Mortgages Trustee in accordance with Clause 4 (Sale and Purchase of New
Mortgage Portfolios) of the Mortgage Sale Agreement;

"Assignment of Insurance Contracts" means an assignment to the Mortgages
Trustee of the Seller's right, title, benefit and interest in the Insurance
Contracts substantially in the form set out in Schedule 3 (Assignment of
Insurance Contracts) to the Mortgage Sale Agreement;

"Auditors" or "auditors" means PricewaterhouseCoopers of 89 Sandyford Road,
Newcastle upon Tyne NE99 1PL or such other internationally recognised
independent firm of auditors selected from time to time by (in the case of the
Mortgages Trustee) the Mortgages Trustee or (in the case of Funding) Funding
or (in the case of any Issuer) the relevant Issuer and appointed by the
Mortgages Trustee, Funding or, as the case may be, the relevant Issuer;

"Authorised Entity" means (a) any entity the short term and secured,
unsubordinated, and unguaranteed debt of which is rated at least A-1+ by S&P,
P-1 by Moody's and F1+ by Fitch or (b) any other entity approved in writing by
the Security Trustee and the Rating Agencies, in each case being an
institution authorised to carry on banking business (including accepting
deposits) under the Banking Act 1987;

"Authorised Institution" means an institution authorised to take deposits
under the Financial Services and Markets Act 2000;

"Authorised Investments" means:

(a)     sterling gilt-edged securities; and

(b)     sterling demand or time deposits, certificates of deposit and
        short-term debt obligations (including commercial paper) (which may
        include deposits into any account which earns a rate of interest
        related to LIBOR) provided that in all cases such investments have a
        maturity date of 90 days or less and mature on or before the next
        following Payment Date or, in relation to any Mortgages Trustee Bank
        Account, the next following Distribution Date, and the short-term
        unsecured, unguaranteed and unsubordinated debt obligations of the
        issuing or guaranteeing entity or the entity with which the demand or
        time deposits are made (being an authorised institution under the
        Financial Services and Markets Act 2000) are rated at least equal to
        A-1+ by S&P, P-1 by Moody's and F1+ by Fitch or which are otherwise
        acceptable

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        to the Rating Agencies (if they are notified in advance) to maintain
        the then-current rating of the Notes;

"Authorised Signatory" means in relation to:

(a)     any Issuer, any authorised signatory referred to in the relevant
        Issuer Account Mandates;

(b)     the Mortgages Trustee, any authorised signatory referred to in the
        Mortgages Trustee Account Mandates; and

(c)     Funding, any authorised signatory referred to in the Funding Account
        Mandates;

"Authorised Third Party" means any Person appointed by the Security Trustee
pursuant to the terms of Schedule 4 of the Administration Agreement and whom
the Rating Agencies have previously confirmed in writing to Funding and the
Security Trustee will not cause the then current ratings of the relevant
Issuer's Notes to be downgraded, withdrawn or qualified provided that if the
responsibilities that such appointed Person will assume include setting the
interest rate applicable to any Mortgage Loan, such Person must be a lender in
the UK residential mortgage market;

"Authorised Underpayment" means a Borrower Underpayment in respect of a
Flexible Mortgage Loan which is funded by, and does not exceed the amount of
any, Overpayments previously made by the Borrower in respect of such Flexible
Mortgage Loan or is otherwise permitted by the Seller in accordance with the
relevant Mortgage Conditions;

"Back-up Functions" has the meaning specified in Schedule 4 (Authorised Third
Party) to the Administration Agreement;

"Back-up Trigger Event" means any of the following circumstances:

(i)     failure by the Seller to comply with any of its obligations under the
        Mortgage Sale Agreement;

(ii)    a Completion Event and any circumstances in connection therewith; or

(iii)   an Administrator Termination Event and any circumstances in connection
        therewith;

"BACS" means the Bankers' Automated Clearing System as amended or supplemented
from time to time or any scheme replacing the same;

"BACS Amounts" means the amounts to be received by the Collection Banks from
Borrowers whether under the Direct Debiting Scheme or otherwise and to be
credited by the Collection Banks to the Collection Accounts on each Monthly
Payment Date, which each Collection Bank shall credit to the relevant
Collection Account;

"Bank Account Agreement" means the agreement entered into on or about the
Initial Closing Date between the Account Banks, the Mortgages Trustee, Funding
and the Security Trustee which governs the operation of the Mortgages Trustee
Bank Accounts and the Funding Bank Accounts other than the Funding (Issuer)
GIC Accounts, as has been and may be amended, restated, novated, varied or
supplemented from time to time and shall include any additional and/or
replacement bank account agreement entered into by such parties from time to
time;

"Bank of England Base Rate" means the Bank of England's official dealing rate
(the repo rate) as set by the UK Monetary Policy Committee and in the event
that such rate ceases to exist or becomes inappropriate as an index for the
Base Rate Pledge such alternative rate or index, not controlled by the

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Seller, that the Seller considers to be the most appropriate in the
circumstances;

"Barclays" means Barclays Bank PLC;

"Barclays Collection Account" means the account in the name of Northern Rock
as Administrator (sort code 20/59/42, account number 60655996) held with
Barclays Bank PLC and maintained subject to the Collection Bank Agreement
and/or such other accounts of Northern Rock held with Barclays Bank PLC as may
be utilised from time to time for the purpose of collecting sums due to
Northern Rock in respect of the Mortgage Loans;

"Base Rate Pledge" means the guarantee of the Seller that where Mortgage Loans
are eligible to be charged at or based on the Standard Variable Rate
(including Fixed Rate Mortgage Loans upon conversion from a Fixed Rate to the
Standard Variable Rate) and they are within the Base Rate Pledge Period, the
actual variable gross interest rate charged on such Mortgage Loans will be the
lower of the following two rates:

(a)     the Standard Variable Rate; or

(b) the Bank of England base rate plus a margin which is determined by the
Seller;

such variable gross interest rate to be applied as necessary within one month
of a change in the Bank of England base rate;

"Base Rate Pledge Period" means, in relation to any Mortgage Loan having the
benefit of the Base Rate Pledge, the period if any during which the Borrower
may be subject to an Early Repayment Charge;

"Basis Rate Swap" means, in relation to the First Issuer, the First Issuer
Basis Rate Swap and for any other Issuer, the swap transaction documented
under the Basis Rate Swap Agreement for such Issuer;

"Basis Rate Swap Agreement" means, in relation to the First Issuer, the First
Issuer Basis Rate Swap Agreement and for any other Issuer, the ISDA Master
Agreement, Schedule, Confirmation and any credit support documents thereto
entered into among such Issuer, the Basis Rate Swap Provider, the Note Trustee
and any credit support provider, as may be amended, restated, novated, varied
or supplemented from time to time and shall include any additional and/or
replacement basis rate swap agreement entered into by such Issuer from time to
time in connection with the Notes issued by such Issuer;

"Basis Rate Swap Provider" means in relation to the First Issuer, the First
Issuer Basis Rate Swap Provider and for any other Issuer the basis rate swap
provider for such Issuer appointed from time to time in accordance with the
relevant Issuer Transaction Documents;

"Basis Rate Swap Provider Default" means the occurrence of an Event of Default
or a Downgrade Termination Event (as defined in the relevant Basis Rate Swap
Agreement) under a Basis Rate Swap Agreement where the Basis Rate Swap
Provider is the Defaulting Party or the Affected Party (as defined in the
relevant Basis Rate Swap Agreement);

"Beneficiaries" means both Funding and the Seller together, as beneficiaries
of the Mortgages Trust and "Beneficiary" means either of them;

"Block Buildings Policy" means the block buildings insurance policies listed
in paragraph 2 of Schedule 4 (Insurance Contracts) to the Mortgage Sale
Agreement and any endorsements or extensions thereto as issued from time to
time and any additional, replacement or substitute block

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insurance policy which relates to Mortgage Loans in the Mortgages Trust from
time to time;

"Borrower" means, in relation to each Mortgage Loan, the person or persons who
is or are named and defined as such in the relevant Mortgage Deed or such
other person or persons (other than a guarantor) who shall become legally
obligated to comply with such Borrower's obligations under the related
Mortgage Loan;

"Borrower Underpayment" means a situation where a Borrower makes a Monthly
Payment on its Mortgage Loan which is less than the required Monthly Payment
for that month;

"Buildings Policies" means

(a)     all buildings insurance policies relating to freehold Mortgaged
        Properties which have been taken out in the name of the relevant
        Borrower or in the name of the Borrower and the Seller or in the name
        of the Borrower with the Seller's interest noted, in accordance with
        the applicable Mortgage Conditions or the Alternative Insurance
        Requirements, including, without limitation, the Block Buildings
        Policy; and

(b)     all landlord's buildings insurance policies relating to leasehold
        Mortgaged Properties;

"Business Day" means, in relation to the First Issuer Notes and the First
Issuer Intercompany Loan, a day that is a London Business Day and a New York
Business Day;

"Capital Balance" means, in relation to any Mortgage Loan at any date, the
principal balance of that Mortgage Loan to which the Seller applies the
relevant interest rate at which interest on each Mortgage Loan applies;

"Capital Payment" means a Monthly Payment made by a Borrower under a Mortgage
Loan (other than a Flexible Mortgage Loan) that is greater by (GBP)200 or more
than the amount due for that month, and in respect of which the Borrower has
notified the Seller that such overpayment is intended to reduce the Capital
Balance of the related Mortgage Loan;

"Capitalised Arrears" means, in relation to any Mortgage Loan at any date,
interest or other amounts which are overdue in respect of such Mortgage Loan
and which as at such date have been added to the Capital Balance of such
Mortgage Loan either in accordance with the Mortgage Conditions or otherwise
by arrangement with the relevant Borrower;

"Capitalised Interest" means, in relation to any Mortgage Loan at any date,
interest which is overdue in respect of such Mortgage Loan and which as at
such date has been added to the Capital Balance of such Mortgage Loan in
accordance with the Mortgage Conditions or otherwise by arrangement with the
relevant Borrower (excluding for the avoidance of doubt any Arrears of
Interest which have not been so capitalised on such date);

"Cash" means cash and/or amounts standing to the credit of a bank account, as
the context shall require;

"Cashback" means, in relation to any Mortgage Loan, the agreement by the
Seller to pay an amount to the relevant Borrower upon completion of the
relevant Mortgage Loan;

"Cash Management Agreement" means the cash management agreement entered into
on or before the Initial Closing Date between the Cash Manager, the Mortgages
Trustee, Funding and the Security Trustee as may be amended, restated,
novated, varied or supplemented from time to time and shall include any
additional and/or replacement cash management agreement entered into by such
parties

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from time to time in accordance with the Transaction Documents;

"Cash Management Services" means, in relation to the any Issuer, the services
to be provided to such Issuer and the Note Trustee pursuant to the Issuer Cash
Management Agreement and in relation to the Mortgages Trustee and Funding, the
services to be provided to the Mortgages Trustee and Funding pursuant to the
Cash Management Agreement;

"Cash Manager" means Northern Rock or such other person or persons for the
time being acting, pursuant to the Cash Management Agreement, as agent for the
Mortgages Trustee, Funding and (following enforcement of the Funding Security)
the Security Trustee for the purposes of, inter alia, managing all cash
transactions and maintaining certain ledgers on behalf of the Mortgages
Trustee, Funding and (following enforcement of the Funding Security) the
Security Trustee;

"Cash Manager Termination Event" has the meaning given in Clause 12.1
(Termination) of the Cash Management Agreement;

"Cash Re-Draw" means a cash payment granted and made by the Seller in
accordance with the Mortgage Conditions at the request of a Borrower after
such Borrower has made an Overpayment in respect of any Flexible Mortgage Loan
but only to the extent of the Overpayment so made. The Seller is solely
responsible for funding any such Cash Re-draw;

"Cash Re-Draw Amount" means, in relation to any Cash Re-Draw, the amount of
monies advanced by the Seller to the relevant Borrower in respect of such Cash
Re-Draw;

"Cash Re-Draws Sub Ledger" means the sub-ledger of the Re-Draws Ledger, which
will be established by the Cash Manager on the Initial Closing Date in order
to record any Cash Re-Draws made on Flexible Mortgage Loans in the Trust
Property;

"Class A Notes" means, in relation to the First Issuer, the Series 1 Class A
Notes and the Series 2 Class A Notes or any of them as the context may require
and, in relation to any New Issuer, the Class A Notes as defined in the
relevant Issuer Master Definitions Schedule;

"Class A Principal Deficiency Sub Ledger" means, in relation to any Issuer,
the sub-ledger of the Issuer Principal Deficiency Ledger of such Issuer
corresponding to the Class A Notes issued by such Issuer;

"Class B Notes" means, in relation to the First Issuer, the Series 1 Class B
Notes and the Series 2 Class B Notes or any of them as the context may require
and, in relation to any New Issuer, the Class B Notes as defined in the
relevant Issuer Master Definitions Schedule;

"Class B Principal Deficiency Sub Ledger" means, in relation to any Issuer,
the sub-ledger of the Issuer Principal Deficiency Ledger of such Issuer
corresponding to the Class B Notes issued by such Issuer;

"Class C Notes" means, in relation to the First Issuer, the Series 1 Class C
Notes and the Series 2 Class C Notes or any of them as the context may require
and, in relation to any New Issuer, the Class C Notes as defined in the
relevant Issuer Master Definitions Schedule;

"Class C Principal Deficiency Sub Ledger" means, in relation to any Issuer,
the sub-ledger of the Issuer Principal Deficiency Ledger of such Issuer
corresponding to the Class C Notes issued by such Issuer;

"Class D Notes" means, in relation to the Second Issuer, the Series 2 Class D
Notes and in relation to

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any New Issuer, the Class D Notes as defined in the Issuer Master Definitions
Schedule relating to that New Issuer;

"Clearstream, Luxembourg" means Clearstream Banking, societe anonyme;

"Closing Date" means, in relation to the First Issuer, the Initial Closing
Date and, in relation to any New Issuer, the date of any issue of New Notes by
a New Issuer;

"Closing Trust Property" means the Initial Mortgage Portfolio assigned by the
Seller to the Mortgages Trustee on the Initial Closing Date;

"Collection Account" means the Barclays Collection Account, the Lloyds TSB
Collection Account and any other account in the name of Northern Rock which is
from time to time used for the purpose of collecting, directly or indirectly,
monies due in respect of Mortgage Loans and/or the Related Security;

"Collection Bank" means any of Barclays, acting through its branch at Percy
Street, Newcastle upon Tyne NE99 1JP and Lloyds TSB acting through its branch
at City Office, Bailey Drive, Gillingham Business Park, Kent ME8 0LS and/or
such other banks as may be appointed from time to time under and in accordance
with the Transaction Documents;

"Collection Bank Agreement" means the collection bank agreement entered into
on or about the Initial Closing Date between the Collection Banks, Mortgages
Trustee, Funding, the Seller and the Administrator as may be amended,
restated, novated, varied or supplemented from time to time and shall include
any additional and/or replacement collection bank agreement entered into by
such parties from time to time in accordance with the Transaction Documents;

"Combined Credit Balance" means the average monthly cleared credit balance of
certain accounts of the Borrower held with the Seller which, pursuant to the
Together Connection Conditions, are required to be deducted from, among other
things, the balance of the Together Connections Mortgage Loan in calculating
the Together Connections Benefit;

"Combined Debit Balance" means the aggregate of the outstanding balances of:

(a)     a Borrower's Together Connections Mortgage Loan; and

(b)     certain other products held with the Seller,

from which the Combined Credit Balance is deducted in calculating the Together
Connections Benefit;

"Common Depositary" means Citibank, N.A., in its capacity as common depositary
for Euroclear and Clearstream, Luxembourg, in relation to the First Issuer
Notes, the CDIs (as defined in the Issuer Master Definitions Schedule relating
to the First Issuer) and, in relation to any New Notes, the Reg S Global Note
Certificates;

"Completion Event" means a Perfection Event;

"Connection Conditions" means the Mortgage Conditions of the Seller identified
as Connection Conditions;

"Connections Benefit" means the amount by which:

(a)     the interest that would be payable on the Connections Debit Balance at
        the Connection

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        Interest Rate exceeds:

(b)     the interest at the Connection Interest Rate that would be payable on
        the amount by which the Connections Debit Balance exceeds the
        Connections Combined Credit Balance;

"Connections Combined Credit Balance" means the average monthly cleared credit
balance in a Borrower's linked Save Direct deposit account (a deposit account
operated by a dedicated savings division of the Seller) and/or current account
with the Seller;

"Connections Debit Balance" means the outstanding balance on a Connections
Mortgage Loan from which the Connections Combined Credit Balance is deducted
in calculating the Connections Benefit;

"Connection Interest Rate" means the rate or rates of interest which are
applicable to, amongst other things, a Together Connections Mortgage Loan and
a Connections Mortgage Loan, and is calculated in accordance with the Together
Connection Conditions and the Connection Conditions, respectively;

"Connections Mortgage Loan" means a type of Flexible Mortgage Loan which has
the same basic features as a Together Connections Mortgage Loan but without
the facility for an unsecured loan or credit card;

"Conditions" or "Terms and Conditions" means in relation to any Notes issued
by any Issuer, the terms and conditions to be endorsed on such Notes in the
form or substantially in the form scheduled to the Trust Deed entered into by
such Issuer with the Note Trustee and others, as any of the same may from time
to time be amended, varied or restated in accordance with the provisions of
such Trust Deed, and any reference to a numbered Condition shall be construed
accordingly;

"Contingency Insurance Policy" means the contingency insurance policy
identified in paragraph 2(d) of Schedule 4 (Insurance Contracts) to the
Mortgage Sale Agreement and any endorsements or extensions thereto as issued
from time to time and any additional, replacement or substitute contingency
insurance policy which relates to Mortgage Loans in the Mortgages Trust from
time to time;

"Contributions" means the consideration in the form of cash provided to the
Mortgages Trustee by any Beneficiary in respect of the share of such
Beneficiary in the Trust Property under the Mortgages Trust Deed, being any of
an Initial Contribution, a Further Contribution or a Deferred Contribution;

"Contributions Ledger" means the ledger created to record (i) the making by
Funding to the Mortgages Trustee of Contributions to the Mortgages Trust
pursuant to the Mortgages Trust Deed (ii) the making by the Seller to the
Mortgages Trustee of Contributions to the Mortgages Trust pursuant to the
Mortgages Trust Deed (iii) the payment by the Mortgages Trustee to the Seller
of either (a) amounts of Initial Purchase Price for the sale of any New
Mortgage Portfolio which is acquired by the Mortgages Trustee from the Seller
under the provisions of Mortgage Sale Agreement (b) amounts of Deferred
Purchase Price in accordance with the Mortgage Sale Agreement and (iv) the
payment by the Mortgages Trustee to the Seller of any Special Distribution in
accordance with the Mortgages Trust Deed;

"Controlled Amortisation Amount" means on any Payment Date prior to the
occurrence of a Trigger Event or enforcement of the Issuer Security:

(a)     in relation to any Note or class of Notes issued by an Issuer which is
        a Controlled Amortisation Note, the maximum aggregate principal amount
        which may be repaid by such

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        Issuer to the relevant Noteholder or Noteholders of such class on such
        Payment Date in accordance with the relevant Conditions and the Issuer
        Cash Management Agreement of such Issuer; or

(b)     in relation to the Intercompany Loan of any Issuer, the maximum
        aggregate principal amount which may be repaid by Funding to such
        Issuer in respect of such Intercompany Loan on such Payment Date
        (which will be equal to the aggregate of the Controlled Amortisation
        Amounts due on such Payment Date under the Notes issued by such
        Issuer);

"Controlled Amortisation Note" means any Note issued by an Issuer pursuant to
which prior to the occurrence of a Trigger Event or enforcement of the Issuer
Security, the Conditions of such Note impose a limit on the amount of
principal which may be repaid by such Issuer to the relevant Noteholder in
respect of such Note on any Payment Date ;

"Corporate Services Agreement" means

(a)     in relation to any Issuer, the corporate services agreement entered
        into on or before the Closing Date of the issue of the relevant Notes
        among, inter alios, the relevant Corporate Services Provider,
        Holdings, the Post-Enforcement Call Option Holder and such Issuer, for
        the provision by the Corporate Services Provider of certain corporate
        services, and

(b)     in relation to the Mortgages Trustee or Funding, the corporate
        services agreement entered into on or before the Initial Closing Date
        between the relevant Corporate Services Provider and the Mortgages
        Trustee or Funding (as the case may be) for the provision by the
        relevant Corporate Services Provider of certain corporate services
        with respect to the Mortgages Trustee or Funding,

in each case as it has been and may be amended, restated, novated, varied or
supplemented from time to time and shall include any additional and/or
replacement corporate services agreements entered into by such parties from
time to time in accordance with the Transaction Documents;

"Corporate Services Provider" means in relation to any Issuer, Law Debenture
Corporate Services Limited, in relation to Funding, Mourant & Co. Capital
(SPV) Limited, and in relation to the Mortgages Trustee, Mourant & Co.
Limited, or any other person or persons for the time being acting as corporate
services provider under the relevant Corporate Services Agreement;

"CPR" means, unless otherwise defined in the text of the relevant Transaction
Document, the constant rate of scheduled and unscheduled repayments on the
Mortgage Loans in the Mortgage Portfolio each month relative to the aggregate
principal amount outstanding of such Mortgage Loans;

"Currency Swap Agreement" means, for any Issuer, the ISDA Master Agreement(s),
Schedule(s), Confirmation(s) and any credit support documents thereto entered
into among such Issuer, the relevant Currency Swap Provider, the Note Trustee
and any credit support provider, as may be amended, restated, novated, varied
or supplemented from time to time and shall include any additional and/or
replacement currency swap agreement entered into by such Issuer from time to
time in connection with the Notes issued by such Issuer;

"Currency Swap Provider" means in relation to any Issuer the swap counterparty
to such Issuer under any relevant Currency Swap Agreement of such Issuer;

"Currency Swap Provider Default" means the occurrence of an Event of Default
or a Downgrade Termination Event (as defined in the relevant Currency Swap
Agreement) under a Currency Swap

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Agreement where the Currency Swap Provider is the Defaulting Party or the
Affected Party (each as defined in the relevant Currency Swap Agreement);

"Current Balance" means in relation to any Mortgage Loan as at any given date,
the aggregate (but avoiding double counting) of (i) the original principal
amount advanced to the relevant Borrower and any Further Advances on or before
the given date to the relevant Borrower secured or intended to be secured by
the related Mortgage; and (ii) the amount of any Re-Draw under any Flexible
Mortgage Loan secured or intended to be secured by the related Mortgage; and
(iii) any interest, disbursement, legal expense, fee, charge, rent, service
charge, premium or payment which has been properly capitalised in accordance
with the relevant Mortgage Conditions or with the relevant Borrower's consent
and added to the amounts secured or intended to be secured by such Mortgage
Loan (including interest capitalised on any Re-Draw under a Flexible Mortgage
Loan); (iv) any other amount (other than unpaid interest) which is due or
accrued (whether or not due) and which has not been paid by the relevant
Borrower and has not been capitalised in accordance with the relevant Mortgage
Conditions or with the relevant Borrower's consent but which is secured or
intended to be secured by that Mortgage Loan, as at the end of the London
Business Day immediately preceding that given date less any repayment or
payment of any of the foregoing made on or before the end of the London
Business Day immediately preceding that given date and excluding any
retentions made but not released and any Further Advances committed to be made
but not made by the end of the London Business Day immediately preceding that
given date;

"Current Funding Share" means the amount of Trust Property beneficially owned
by Funding from time to time, as determined in accordance with Clause 8
(Adjustment of Funding Share Percentage and Seller Share Percentage) of the
Mortgages Trust Deed;

"Current Funding Share Percentage" means the percentage share of Funding in
the Trust Property from time to time, as determined in accordance with Clause
8 (Adjustment of Funding Share Percentage and Seller Share Percentage) of the
Mortgages Trust Deed;

"Current Seller Share" means the amount of Trust Property beneficially owned
by the Seller from time to time, as determined in accordance with Clause 8
(Adjustment of Funding Share Percentage and Seller Share Percentage) of the
Mortgages Trust Deed;

"Current Seller Share Percentage" means the percentage share of the Seller in
the Trust Property from time to time as determined in accordance with Clause 8
(Adjustment of Funding Share Percentage and Seller Share Percentage) of the
Mortgages Trust Deed;

"Deed of Accession" means a deed executed by, inter alios, Funding, the
Security Trustee and the Note Trustee and any New Funding Secured Creditor in
the form set out in Schedule 2 to the Funding Deed of Charge or, any other
form of deed as agreed between the parties;

"Deed of Consent" means a deed whereby a person in or intended to be in
occupation of a Mortgaged Property agrees with the Seller to postpone his or
her interest (if any) in the Mortgaged Property so that it ranks after the
interest of the Seller created by the relevant Mortgage;

"Deed of Postponement" means a deed whereby a mortgagee of a Mortgaged
Property agrees with the Seller to postpone its mortgage over the Mortgaged
Property so that the sums secured by it will rank for repayment after the sums
secured by the relevant Mortgage;

"Deferred Contribution" means the consideration in the form of cash payable by
Funding to the Mortgages Trustee from time to time in respect of the Funding
Share of the Trust Property pursuant to

                                      11
<PAGE>

and in accordance with the Mortgages Trust Deed and/or the Funding Deed of
Charge including, for the avoidance of doubt, Final Deferred Contribution
(which Contribution will fund the payment to the Seller by the Mortgages
Trustee of amounts of Deferred Purchase Price payable by the Mortgages Trustee
to the Seller from time to time pursuant to and in accordance with the
Mortgage Sale Agreement);

"Deferred Purchase Price" means that portion of the Purchase Price for the
sale and assignment of the Initial Mortgage Portfolio or of any New Mortgage
Portfolio assigned to the Mortgages Trustee which is not paid to the Seller on
the Initial Closing Date or, in the case of any New Mortgage Portfolio, on the
relevant Assignment Date and which is to be paid by the Mortgages Trustee to
the Seller from time to time from Deferred Contributions received by the
Mortgages Trustee from Funding and otherwise in accordance with the Mortgage
Sale Agreement;

"Direct Debit" means a payment made pursuant to the Direct Debiting Scheme;

"Direct Debiting Scheme" means the scheme for the manual or automated debiting
of bank accounts operated in accordance with the detailed rules of certain
members of the Association for Payment Clearing Services;

"Distribution Date" means the date on which the Mortgages Trust terminates and
the London Business Day as determined by the Cash Manager falling no later
than 6 Business Days after each Trust Determination Date;

"Distribution Period" means the period from, and including, a Distribution
Date to, but excluding, the next following Distribution Date or, in relation
to the first Distribution Period, the period from and including the relevant
Closing Date to, but excluding, the first Distribution Date;

"Drawdown Date" means, in respect of the First Issuer Intercompany Loan, the
Initial Closing Date, and in respect of any New Intercompany Loan, the date on
which such New Intercompany Loan is made to Funding by any New Issuer;

"Drawdown Notice" means, in respect of an Intercompany Loan, a notice
delivered by Funding to the relevant Issuer and the Security Trustee
requesting a drawing under that Intercompany Loan Agreement;

"DTC" means The Depository Trust Company;

"Early Repayment Charge" means any charge or fee which the Mortgage Conditions
applicable to a Mortgage Loan require the relevant Borrower to pay in the
event that all or part of that Mortgage Loan is repaid before a certain date,
including without limitation repayment of any "cashback";

"Early Repayment Charge Receipts" means an amount equal to sums received by
the Mortgages Trustee from time to time in respect of Early Repayment Charges;

"Encumbrance" has the same meaning as "Security Interest";

"Enforcement Procedures" means the procedures for the enforcement of Mortgages
undertaken by the Administrator from time to time in accordance with the
Administration Procedures;

"Euroclear" means Euroclear Bank S.A./N.V., as operator of the Euroclear System;

"Event of Default" means, as the context requires, any of the following:

(a)     in relation to the First Issuer Notes, a First Issuer Note Event of
        Default;

                                      12
<PAGE>

(b)     in relation to the New Notes issued by any New Issuer, a Note Event of
        Default pursuant to the Terms and Conditions of such New Notes;

(c)     in relation to the First Intercompany Loan Agreement, a First Issuer
        Intercompany Loan Event of Default; or

(d)     in relation to any New Intercompany Loan Agreement, the occurrence of
        an event of default pursuant to the Intercompany Loan Terms and
        Conditions of such New Issuer;

"Exchange Act" means the United States Securities Exchange Act of 1934, as
amended;

"Existing Borrower's Re-Fix Rate" means at any date the fixed rate then being
offered to those of the Seller's existing Borrowers who at that date are
seeking to fix the rate of interest payable under their existing Fixed Rate
Mortgage Loan with the Seller for the applicable period;

"Final Deferred Contribution" has the meaning given to it in the Mortgages
Trust Deed;

"Final Repayment Date" means, in respect of the First Issuer Intercompany
Loan, the Payment Date falling in January, 2041 and in relation to any New
Intercompany Loan the date specified under the relevant Issuer Transaction
Documents and as defined in the relevant Issuer Master Definitions Schedule;

"Financial Period" means a Financial Year or any other period in respect of
which accounts are required to be prepared and certified by the auditors of
the relevant company to enable it to comply with all relevant legal and
accounting requirements and all requirements of any stock exchange on which
any securities of the company are listed;

"First Issuer" means Granite Mortgages 01-1 plc;

"First Issuer Liquidity Required Amount" means an amount as of any Payment
Date equal to the excess, if any, of 3% of the aggregate outstanding balance
of the Notes on that Payment Date over amounts standing to the credit of the
Issuer Reserve Fund on that Payment Date;

"Fitch" means Fitch Ratings Limited and includes any successor to its ratings
business;

"Fixed Rate Mortgage Loan" means a Mortgage Loan which is subject to a fixed
rate of interest set by reference to a predetermined rate or series of rates
for a fixed period or periods;

"Fixed Rate Period" means, in relation to any Fixed Rate Mortgage Loan or
other Mortgage Loan offered with a Fixed Rate, the period agreed between the
Borrower and the Seller or Administrator (as applicable) as set out under the
terms and conditions of such Mortgage Loan during which the interest rate
applicable to such Mortgage Loan will remain fixed;

"Flexible Cash Re-Draw Capacity" has the meaning given to it in Clause 9.2
(Fluctuation of Minimum Seller Share on Distribution Date) of the Mortgages
Trust Deed;

"Flexible Mortgage Loan" means a type of Mortgage Loan product that typically
incorporates features that give the Borrower options (which may be subject to
certain conditions) to, among other things, make further drawings on the
mortgage loan account and/or to overpay or underpay interest and principal in
a given month and/or to take a Payment Holiday;

"Flexible Overpayments Sub Ledger" means the sub-ledger of the Overpayments
Ledger which will be established by the Cash Manager on the Initial Closing
Date in order to record any Overpayments made on Flexible Mortgage Loans;

                                      13
<PAGE>

"Funding" means Granite Finance Funding Limited, a company incorporated with
limited liability in Jersey, registered number 79308;

"Funding Available Principal Receipts" in respect of any Payment Date will be
calculated by the Cash Manager or otherwise on behalf of Funding (or,
following enforcement of the Funding Security, the Security Trustee) on the
Distribution Date immediately preceding such Payment Date and will be an
amount equal to the sum of all Funding Principal Receipts received by Funding
from the Mortgages Trustee during the Interest Period ending on the relevant
Payment Date plus amounts standing to the credit of the Funding Principal
Ledger; provided that, subject as otherwise provided in the Transaction
Documents, for the purpose only of determining the amount of Funding Available
Principal Receipts which may be allocated to any Issuer (but not to any other
Issuer) following an enforcement of the Issuer Security relating to that
Issuer, it may also include the aggregate of any amounts standing to the
credit of the Issuer Liquidity Reserve Ledger, if any, and the Issuer Reserve
Fund Ledger of such Issuer remaining on that Payment Date after the
application of such reserve funds in accordance with the Funding
Pre-Enforcement Revenue Priority of Payments;

"Funding Available Revenue Receipts" in respect of any Payment Date will be
calculated by the Cash Manager on the Distribution Date immediately preceding
such Payment Date and will be an amount equal to the sum of:

(1)     all Mortgages Trustee Available Revenue Receipts distributed to
        Funding during the Interest Period ending on the relevant Payment
        Date;

(2)     other net income of Funding including all amounts of interest received
        on the Funding GIC Account and the Funding Transaction Account, and/or
        all income from Authorised Investments, in each case to be received on
        or prior to the relevant Payment Date; and

(3)     the amount standing to the credit of the Funding Reserve Ledger,

PROVIDED THAT for the purpose only of the payments to be made to any Issuer on
the relevant Payment Date in respect of the Intercompany Loan made by that
Issuer (but not for the purpose of any other payment to be made by Funding on
the relevant Payment Date including any payment in respect of any other
Intercompany Loan made by any other Issuer), it shall also include the sum of:

(4)     the amount standing to the credit of the Issuer Reserve Fund Ledger in
        respect of such Issuer (but not in respect of any other Issuer),
        subject to any limits or conditions on the purposes for which that
        reserve may be utilised as set out in the Funding Deed of Charge; and

(5)     the amount standing to the credit of the Issuer Liquidity Reserve
        Ledger, if any, in respect of such Issuer (but not in respect of any
        other Issuer), subject to any limits or conditions on the purposes for
        which that reserve may be utilised as set out in the Funding Deed of
        Charge.

"Funding Bank Accounts" means the Funding GIC Account, the Funding Transaction
Account and the Funding (First Issuer) GIC Account and each other Funding
(Issuer) GIC Account established after the Initial Closing Date and each such
additional or replacement account in the name of Funding that may be opened
with the prior approval of the Security Trustee after the Initial Closing
Date;

"Funding Charged Property" means the property, assets and undertakings of
Funding which from time to time are or are expressed to be mortgaged, charged,
assigned, pledged or otherwise encumbered to, or in favour of the Security
Trustee for itself and for the Funding Secured Creditors under the Funding
Deed of Charge or any other Funding Transaction Document;

                                      14
<PAGE>

"Funding Contribution Date" means any date on which Funding makes a Further
Contribution to the Mortgages Trustee in connection with Funding's purchase of
an increased beneficial interest in the Trust Property, on which date the
Mortgages Trustee will also pay to the Seller an Initial Consideration equal
to the amount of such Further Contribution;

"Funding Deed of Charge" means the deed of charge entered into on or about the
Initial Closing Date between Funding, the Security Trustee, the First Issuer,
the Corporate Services Provider, the Account Bank, the Funding GIC Provider,
the Mortgages Trustee, the Start-up Loan Provider and the Cash Manager and the
Schedules thereto and each Deed of Accession or Accession Undertaking entered
into in connection therewith as may be amended, restated, novated, varied or
supplemented from time to time;

"Funding (First Issuer) Bank Account Agreement" means the agreement entered
into on or about the Initial Closing Date between Funding, the Cash Manager,
the Security Trustee and the Account Bank which governs the operation of the
Funding (First Issuer) GIC Account as may be amended, restated, novated,
varied or supplemented from time to time and shall include any additional
and/or replacement Funding (first issuer) bank account agreement entered into
by such parties from time to time in accordance with the Transaction
Documents;

"Funding (First Issuer) GIC Account" the account in the name of Funding (sort
code 30-15-57, account number 00001933, reference: GRANITE011GI) held at the
Account Bank and maintained subject to the terms of the Funding (First Issuer)
Guaranteed Investment Contract, the Funding (First Issuer) Bank Account
Agreement and the Funding Deed of Charge or such additional or replacement
account as may for the time being be in place with the prior consent of the
Security Trustee;

"Funding (First Issuer) GIC Account Mandate" means the resolutions,
instructions and signature authorities relating to the Funding (First Issuer)
GIC Account substantially in the form set out in Schedule 1 to the Funding
(First Issuer) Bank Account Agreement;

"Funding (First Issuer) Guaranteed Investment Contract" means the guaranteed
investment contract entered into on or about the Initial Closing Date between
Funding, the Funding GIC Provider, the Security Trustee and the Cash Manager
under which the Funding GIC Provider agrees to pay Funding a guaranteed rate
of interest on the balance from time to time of the Funding (First Issuer) GIC
Account, as may be amended, restated, novated, varied or supplemented from
time to time and shall include any additional and/or replacement guaranteed
investment contract entered into by Funding from time to time in accordance
with the Transaction Documents;

"Funding (Issuer) Bank Account Agreement" means, in relation to any Issuer,
the agreement entered into on or about the relevant Closing Date between
Funding, the Cash Manager, the Security Trustee and the Account Bank which
governs the operation of the Funding (Issuer) GIC Account and shall include
any additional and/or replacement Funding (Issuer) bank account agreement
entered into by such parties from time to time in accordance with the
Transaction Documents;

"Funding (Issuer) GIC Account" means, in relation to any Issuer, the account
in the name of Funding held at the Account Bank and maintained subject to the
terms of the relevant Funding (Issuer) Guaranteed Investment Contract, the
relevant Funding (Issuer) Bank Account Agreement and the Funding Deed of
Charge or such additional or replacement account as may for the time being be
in place with the prior consent of the Security Trustee;

"Funding (Issuer) Guaranteed Investment Contract" means, in relation to any
Issuer, the

                                      15
<PAGE>

guaranteed investment contract entered into on about the relevant Closing Date
between Funding, the Funding GIC Provider, the Security Trustee and the Cash
Manager under which the Funding GIC Provider agrees to pay Funding a
guaranteed rate of interest on the balance from time to time of the relevant
Funding (Issuer) GIC Account, as may be amended, restated, novated, varied or
supplemented from time to time and shall include any additional and/or
replacement guaranteed investment contract entered into by Funding from time
to time in accordance with the Transaction Documents;

"Funding GIC Account Mandate" means the resolutions, instructions and
signature authorities relating to the Funding GIC Account substantially in the
form set out in Schedule 1 to the Bank Account Agreement;

"Funding GIC Provider" means Lloyds TSB Bank plc acting through its office at
Treasury Division, 25 Monument Street, London or such other person or persons
as are for the time being the GIC provider to Funding under the Funding
Guaranteed Investment Contract and any Funding (Issuer) Guaranteed Investment
Contract;

"Funding Guaranteed Investment Contract" means the guaranteed investment
contract entered into on or about the Initial Closing Date between Funding,
the Funding GIC Provider, the Cash Manager and the Security Trustee under
which the Funding GIC Provider agrees to pay Funding a guaranteed rate of
interest on the balance from time to time of the Funding GIC Account as may be
amended, restated, novated, varied or supplemented from time to time and shall
include any additional and/or replacement guaranteed investment contract
entered into by Funding in accordance with the Transaction Documents;

"Funding Jersey Secured Property" means, at any time, the Funding Charged
Property which is situated in Jersey at such time;

"Funding Ledgers" means the Funding Principal Ledger, the Funding Revenue
Ledger, the Funding Reserve Ledger, the Funding Principal Deficiency Ledger,
the Intercompany Loan Ledger and each Issuer Reserve Fund Ledger and each
Issuer Liquidity Reserve Ledger;

"Funding Post-Enforcement Priority of Payments" means the rules and the order
of priority in which Funding Available Revenue Receipts, Funding Available
Principal Receipts and all other monies, income, receipts and recoveries of
Funding or the Security Trustee or any Receiver of Funding and the proceeds of
enforcement of the Funding Security are to be applied following service of an
Intercompany Loan Enforcement Notice or otherwise following an enforcement of
the Funding Security as set out in Part III of Schedule 3 (Funding Priority of
Payments) to the Funding Deed of Charge, as the same may be amended, varied or
superseded from time to time in accordance with the terms of the Funding Deed
of Charge;

"Funding Pre-Enforcement Principal Priority of Payments" means the rules and
the order of priority in which Funding Available Principal Receipts will be
applied prior to the enforcement of the Funding Security as set out in Part II
of Schedule 3 (Funding Priority of Payments) to the Funding Deed of Charge, as
the same may be amended, varied or superseded from time to time in accordance
with the terms of the Funding Deed of Charge;

"Funding Pre-Enforcement Revenue Priority of Payments" means the rules and the
order of priority in which Funding Available Revenue Receipts will be applied
prior to the enforcement of the Funding Security as set out in Part I of
Schedule 3 (Funding Priority of Payments) to the Funding

                                      16
<PAGE>

Deed of Charge, as the same may be amended, varied or superseded from time to
time in accordance with the terms of the Funding Deed of Charge;

"Funding Principal Deficiency Ledger" means the ledger maintained by the Cash
Manager in the name of Funding pursuant to the Cash Management Agreement to
record the aggregate position of the Principal Deficiency Ledgers of all
Issuers as to Losses on the Mortgage Loans and the application of Funding
Available Principal Receipts to fund the Issuer Liquidity Reserve Funds;

"Funding Principal Ledger" means the ledger maintained by the Cash Manager in
the name of Funding pursuant to the Cash Management Agreement to record
receipts and payments of Funding Principal Receipts;

"Funding Principal Receipts" means the Principal Receipts received by Funding
from the Mortgages Trustee on each Distribution Date;

"Funding Priority of Payments" means, as applicable, any of the Funding
Pre-Enforcement Revenue Priority of Payments, the Funding Pre-Enforcement
Principal Priority of Payments or the Funding Post-Enforcement Priority of
Payments;

"Funding Reserve Fund" means the reserve fund established in the name of
Funding on the Initial Closing Date in an amount up to the Funding Reserve
Required Amount, which prior to enforcement may be (a) allocated among Issuers
to help meet any deficit in Funding Available Revenue Receipts and thereby any
deficit recorded on the Issuer Principal Deficiency Ledgers and/or (b)
utilised to fund initial reserves and other expenses in connection with the
issuance of Notes by New Issuers;

"Funding Reserve Ledger" means the ledger maintained by the Cash Manager in
the name of Funding pursuant to the Cash Management Agreement to record the
amount standing to the credit of the Funding Reserve Fund from time to time;

"Funding Reserve Required Amount" means the amount from time to time which is
equal to the sum of (1) the product of 0.60 per cent. and the greater of (a)
the aggregate Principal Amount Outstanding of the Notes outstanding of all
Issuers on the relevant determination date and (b) the aggregate Outstanding
Principal Balance of the Intercompany Loans of all Issuers on the relevant
determination date, or such other amount as may be agreed from time to time
with the Rating Agencies. As at the Initial Closing Date, the Funding reserve
required amount will be zero;

"Funding Revenue Ledger" means the ledger maintained by the Cash Manager in
the name of Funding pursuant to the Cash Management Agreement to record all
monies received by Funding during an Interest Period other than the Funding
Principal Receipts;

"Funding Revenue Receipts" means the Mortgages Trustee Available Revenue
Receipts received by Funding from the Mortgages Trustee on each Distribution
Date;

"Funding Secured Creditors" means the Security Trustee (and any Receiver of
Funding appointed pursuant to the Funding Deed of Charge), the First Issuer,
the Corporate Services Provider in relation to Funding, the Account Bank, the
Funding GIC Provider, the Mortgages Trustee, the Start-up Loan Provider, the
Cash Manager and each New Funding Secured Creditor who accedes to the Funding
Deed of Charge from time to time pursuant to a Deed of Accession (including,
for the avoidance of doubt, any New Issuer);

"Funding Secured Obligations" means any and all of the monies, obligations and
liabilities which Funding covenants to pay or discharge under or pursuant to
Clause 2 (Covenant to pay and to

                                      17
<PAGE>

Perform) of the Funding Deed of Charge and all other amounts owed by it to the
Funding Secured Creditors pursuant to the Funding Transaction Documents;

"Funding Security" means the security granted by Funding under or pursuant to
the Funding Deed of Charge in favour of the Security Trustee for the benefit
of the Funding Secured Creditors or any of them including the security granted
by Funding under or pursuant to any Deed of Accession;

"Funding Share" means, prior to the first Distribution Date, the Initial
Funding Share and thereafter means the Current Funding Share;

"Funding Share Percentage" means, prior to the first Distribution Date, the
Initial Funding Share Percentage and thereafter means the Current Funding
Share Percentage;

"Funding Share/Seller Share Ledger" means the ledger to be maintained by the
Cash Manager, on behalf of the Mortgages Trustee and the Beneficiaries, to
record the Current Funding Share, the Current Funding Share Percentage, the
Current Seller Share and the Current Seller Share Percentage of the Trust
Property;

"Funding Transaction Account" means the account in the name of Funding
(account no. 0625898, sort code 30-00-02) held with the Account Bank and
maintained subject to the terms of the Bank Account Agreement and the Funding
Deed of Charge or any additional or replacement account as may for the time
being be in place with the prior consent of the Security Trustee;

"Funding Transaction Account Mandate" means the resolutions, instructions and
signature authorities relating to the Funding Transaction Account
substantially in the form set out in Schedule 1 to the Bank Account Agreement;

"Funding Transaction Document" means each of the following documents:

(a)     the Mortgages Trust Deed;

(b)     the Mortgage Sale Agreement;

(c)     the Administration Agreement;

(d)     the Funding Deed of Charge;

(e)     the Corporate Services Agreement;

(f)     the Bank Account Agreement;

(g)     the Funding (Issuer) Bank Account Agreement;

(h)     the Funding Guaranteed Investment Contract;

(i)     the Funding (Issuer) Guaranteed Investment Contract;

(j)     the Cash Management Agreement;

(k)     the Start-up Loan Agreement;

(l)     each New Start-up Loan Agreement to be entered into by Funding after
        the Initial Closing Date;

(m)     the Collection Bank Agreement;

(n)     the First Issuer Intercompany Loan Agreement;

(o)     each New Intercompany Loan Agreement to be entered into by Funding
        after the date hereof;

                                      18
<PAGE>

        and

(p)     each other deed, document, agreement, instrument or certificate
        entered into or to be entered into by Funding pursuant to or in
        connection with any of the documents set out in paragraphs (a) through
        (o) above including any agreement entered into by Funding as a
        replacement of any of the above agreements upon the termination
        thereof;

"Further Advance" means, in relation to a Mortgage Loan, any advance of
further money to the relevant Borrower following the making of the initial
advance of monies in respect of such Mortgage Loan (the "Initial Advance")
which is secured by the same Mortgage as the Initial Advance but does not
include the amount of any retention advanced to the relevant Borrower as part
of the Initial Advance after completion of the Mortgage and does not include
any Re-Draw;

"Further Contribution" means the consideration in the form of cash payable to
the Mortgages Trustee by any Beneficiary to increase the Funding Share or, as
the case may be, the Seller Share of the Trust Property pursuant to and in
accordance with the Mortgages Trust Deed but excluding any Initial
Contribution or Deferred Contribution paid by Funding to the Mortgages
Trustee;

"GIC Provider" means in relation to any person the provider of guaranteed
investment services to such person pursuant to a guaranteed investment
contract;

"Guarantee" means each guarantee in support of the obligations of a Borrower
under a Mortgage Loan;

"Holdings" means Granite Finance Holdings Limited, a private limited company
incorporated under the laws of England and Wales, registered number 4127787;

"ICTA" means the Income and Corporation Tax Act 1988;

"in Arrears" or "in arrears" means, in respect of a Mortgage Account, that
amount equal in the aggregate to one or more Monthly Payments in respect of
such Mortgage Account are overdue and unpaid by a Borrower;

"Independent Certificates" means certificates of independent parties in
accordance with Trust Indenture Act Sections 314(c) and 314(d)(1);

"Initial Closing Date" means 26 March 2001;

"Initial Contribution" the consideration in the form of cash payable by
Funding to the Mortgages Trustee in respect of the Funding Share of the Trust
Property pursuant to and in accordance with the Mortgages Trust Deed, which
Contribution is to fund the payment to the Seller by the Mortgages Trustee of
(and is equal to) the Initial Purchase Price in respect of the Initial
Mortgage Portfolio or (if any is payable) any New Mortgage Portfolio assigned
to the Mortgages Trustee and is to be funded from the proceeds of the First
Issuer Intercompany Loan or any New Intercompany Loan;

"Initial Funding Share" means the share of Funding in the Trust Property on
the Initial Closing Date, being an amount equal to approximately
(GBP)1,500,000,000;

"Initial Funding Share Percentage" means the percentage share of Funding in
the Trust Property on the Initial Closing Date being approximately 86.61 per
cent.;

"Initial Mortgage Loans" means the portfolio of residential first Mortgage
Loans and their Related Security to be assigned by the Seller to the Mortgages
Trustee on the Initial Closing Date pursuant to the Mortgage Sale Agreement;

                                      19
<PAGE>

"Initial Mortgage Portfolio" means the portfolio of Initial Mortgage Loans and
their Related Security, particulars of which are set out in Appendix A to the
Mortgage Sale Agreement but excluding any such Mortgage Loan and its Related
Security which has been redeemed in full on or before the Initial Closing
Date, and (subject where applicable to the subsisting rights of redemption of
the Borrowers) all right, title, interest and benefit of the Seller in and to:

(a)     all sums of principal, interest (including, for the avoidance of
        doubt, all Accrued Interest, Arrears of Interest and Capitalised
        Arrears) and any other sum due or to become due under or in respect of
        such Mortgage Loans and their Related Security on or after the Initial
        Closing Date and including, without limitation, the right to demand,
        sue for, recover and give receipts for all such principal, interest or
        other amounts, the right to sue on all covenants and undertakings made
        or expressed to be made in favour of the Seller under the applicable
        Mortgage and all sums due or to become due in respect of any Early
        Repayment Charge;

(b)     the benefit of all securities for such principal, interest and other
        sums payable (including without limitation any interest of the Seller
        in any Life Policy), the benefit of all Deeds of Consent and Deeds of
        Postponement, any Guarantee in respect of such Mortgage Loan or any
        other collateral security for the repayment of the relevant Mortgage
        Loans secured by the Mortgages;

(c)     the right to exercise all the powers of the Seller in relation thereto
        subject to and in accordance with the relevant Mortgage Conditions;

(d)     all the estate and interest in the Mortgaged Properties in relation
        thereto vested in the Seller;

(e)     to the extent they are assignable, each Certificate of Title and
        Valuation Report and any right of action of the Seller against any
        solicitor, valuer or other person in connection with any report,
        valuation, opinion, certificate or other statement of fact or opinion
        given in connection with any Mortgage Loan and its Related Security,
        or any part thereof affecting the decision of the Seller to make or
        offer to make the relevant Mortgage Loan or part thereof;

(f)     the Buildings Policies and Insurance Contracts, in each case so far as
        they relate to such Mortgage Loans comprised in that portfolio of
        Mortgage Loans and their Related Security, including the right to
        receive the proceeds of all claims made or to be made by or on behalf
        of the Seller or to which the Seller is or may become entitled;

(g)     the MIG Policies, so far as they relate to such Mortgage Loans
        comprised in that portfolio of Mortgage Loans and their Related
        Security, including the right to receive of all claims made or to be
        made by or on behalf of the Seller or to which the Seller is or may
        become entitled;

"Initial Purchase Price" means the sum of (GBP)1,480,000,000 payable by the
Mortgages Trustee to the Seller on the Initial Closing Date in consideration
of the Seller's assignment to the Mortgages Trustee of the Initial Mortgage
Portfolio or the sum agreed to from time to time between the Mortgages Trustee
and the Seller and payable by the Mortgages Trustee to the Seller on an
Assignment Date in consideration of the Seller's assignment to the Mortgages
Trustee of a New Mortgage Portfolio in respect of which any Initial Purchase
Price is payable (together with any accrued principal, interest and expenses
as at the Closing Date or Assignment Date, as applicable) in accordance with
the provisions of the Mortgage Sale Agreement;

"Initial Seller Share" means the share of the Seller in the Trust Property on
the Initial Closing Date being an amount equal to approximately
(GBP)232,000,000;

                                      20
<PAGE>

"Initial Seller Share Percentage" means the percentage share of the Seller in
the Trust Property on the Initial Closing Date being approximately 13.39 per
cent.;

"Initial Trust Property" means the sum of (GBP)100 (one hundred pounds) held
on trust absolutely as to both capital and income by the Mortgages Trustee for
the benefit of the Seller and Funding pursuant to Clause 2.1 (Initial Trust
Property) of the Mortgages Trust Deed;

"Inland Revenue" means the Inland Revenue of the United Kingdom;

"Insolvency Act" means the Insolvency Act 1986;

"Insolvency Event" in respect of the Seller, the Administrator, the Cash
Manager or any Issuer Cash Manager (each, for the purposes of this definition,
a "Relevant Entity") means:

(a)     an order is made or an effective resolution passed for the winding up
        of the Relevant Entity (except, in any such case, a winding-up or
        dissolution for the purpose of a reconstruction or amalgamation the
        terms of which have been previously approved by the Security Trustee);

(b)     the Relevant Entity ceases or threatens to cease to carry on its
        business or stops payment or threatens to stop payment of its debts or
        is deemed unable to pay its debts within the meaning of section
        123(a), (b), (c) or (d) of the Insolvency Act (as amended, modified or
        re-enacted) or becomes unable to pay its debts as they fall due or the
        value of its assets falls to less than the amounts of its liabilities
        (taking into account, for both these purposes, contingent and
        prospective liabilities) or otherwise becomes insolvent;

(c)     proceedings are initiated against the Relevant Entity under any
        applicable liquidation, administration, reorganisation (other than a
        reorganisation where the Relevant Entity is solvent) or other similar
        laws, save where such proceedings are being contested in good faith;
        or an administrative or other receiver, administrator or other similar
        official is appointed in relation to the whole or any substantial part
        of the undertaking or assets of the Relevant Entity; or a distress,
        execution or diligence or other process is enforced upon the whole or
        any substantial part of the undertaking or assets of the Relevant
        Entity and in any of the foregoing cases it is not discharged within
        30 London Business Days; or if the Relevant Entity initiates or
        consents to judicial proceedings relating to itself under any
        applicable liquidation, administration, insolvency, reorganisation or
        other similar laws or makes a conveyance or assignment for the benefit
        of its creditors generally;

and in respect of Funding or any Issuer (each, for the purposes of this
definition, a "Relevant Entity"), "Insolvency Event" means:

(a)     except for the purposes of an amalgamation or restructuring as
        described in sub-clause (b) of this definition, the Relevant Entity
        ceases or threatens to cease to carry on all or a substantial part of
        its business or the Relevant Entity is deemed unable to pay its debts
        within the meaning of section 123(1)(a), (b), (c) or (d) of the
        Insolvency Act 1986 (as that section may be amended) or becomes unable
        to pay its debts within the meaning of section 123(2) of the
        Insolvency Act 1986 (as that section may be amended, modified or
        re-enacted); or

(b)     an order is made or an effective resolution is passed for the winding
        up of the Relevant Entity (except for the purposes of or pursuant to
        an amalgamation, restructuring or merger previously approved by the
        Note Trustee or the Security Trustee, as the case may be, or as
        approved in writing by an Extraordinary Resolution (as defined in the
        Issuer Trust Deed) of

                                      21
<PAGE>

        the Class A Noteholders); or

(c)     proceedings are otherwise initiated against the Relevant Entity under
        any applicable liquidation, insolvency, composition, reorganisation or
        other similar laws (including, but not limited to, presentation of a
        petition for an administration order) and (except in the case of
        presentation of a petition for an administration order) such
        proceedings are not, in the opinion of the Note Trustee or the
        Security Trustee (as the case may be), being disputed in good faith
        with a reasonable prospect of success; or an administration order
        being granted or an administrative receiver or other receiver,
        liquidator or other similar official being appointed in relation to
        the Relevant Entity or in relation to the whole or any substantial
        part of the undertaking or assets of the Relevant Entity; or an
        encumbrancer taking possession of the whole or any substantial part of
        the undertaking or assets of the Relevant Entity, or a distress,
        execution, diligence or other process being levied or enforced upon or
        sued out against the whole or any substantial part of the undertaking
        or assets of the Relevant Entity and such possession or process (as
        the case may be) not being discharged or not otherwise ceasing to
        apply within 30 days; or the Relevant Entity initiating or consenting
        to judicial proceedings relating to itself under applicable
        liquidation, insolvency, composition, reorganisation or other similar
        laws or making a conveyance or assignment for the benefit of its
        creditors generally;

"Insurance Contracts" means the insurance contracts or policies described in
Schedule 4 to the Mortgage Sale Agreement and any other additional, substitute
or replacement insurance contract or policy arranged by the Seller from time
to time relating to the Mortgage Loans in the Mortgages Trust;

"Insurance Policies" means:

(a)     the MIG Policies;

(b)     the Properties in Possession Policy;

(c)     the Contingency Insurance Policy; and

(d)     the Buildings Policies;

"Intercompany Loan Agreements" means the First Issuer Intercompany Loan
Agreement and any New Intercompany Loan Agreements and "Intercompany Loan
Agreement" means any one of them;

"Intercompany Loans" means the First Issuer Intercompany Loan and any New
Intercompany Loan and "Intercompany Loan" means any of them;

"Intercompany Loan Confirmation" means a document substantially in the form
set out in Schedule 2 (Form of Intercompany Loan Confirmation) to the
Intercompany Loan Terms and Conditions confirming the principal terms of each
Intercompany Loan Agreement between Funding, any Issuer, the Security Trustee
and the Agent Bank;

"Intercompany Loan Enforcement Notice" means an enforcement notice served by
the Security Trustee on Funding in relation to the enforcement of the Funding
Security following the occurrence of an Intercompany Loan Event of Default;

"Intercompany Loan Event of Default" means the occurrence of an event of
default as specified in Clause 14 (Default) of the Intercompany Loan Terms and
Conditions;

                                      22
<PAGE>

"Intercompany Loan Ledger" means the ledger on which the Cash Manager will
record payments of interest and repayments of principal made under any
Intercompany Loan;

"Intercompany Loan Terms and Conditions" means the general terms and
conditions applicable to each Intercompany Loan Agreement, which have been
signed for the purposes of identification by the Security Trustee, the Agent
Bank and Funding on the Initial Closing Date, as amended, restated, novated,
varied or supplemented from time to time and shall include any additional
and/or replacement intercompany loan terms and conditions entered into from
time to time in accordance with the Transaction Documents;

"Interest Rate Shortfall" has the meaning given to it in Clause 4.3(a) of the
Administration Agreement;

"Interim Calculation Period" means the portion of a Trust Calculation Period
that is less than a full Trust Calculation Period during which any single
calculation of the Funding Share, Funding Share Percentage, Seller Share and
Seller Share Percentage applies;

"Irrecoverable VAT" means any amount in respect of VAT incurred by a party to
the Transaction Documents (for the purposes of this definition, a "Relevant
Party") as part of a payment in respect of which it is entitled to be
indemnified under the relevant Transaction Documents to the extent that the
Relevant Party does not or will not receive and retain a credit or repayment
of such VAT as input tax (as that expression is defined in section 24(1) of
the Value Added Tax Act 1994) for the prescribed accounting period (as that
expression is used in section 25(1) of the Value Added Tax Act 1994) to which
such input tax relates;

"Interest Rate Swap Agreement" means, for any Issuer, the ISDA Master
Agreement(s), Schedule(s), Confirmation(s) and any credit support documents
thereto entered into among such Issuer, the relevant Interest Rate Swap
Provider, the Note Trustee and any credit support provider, as may be amended,
restated, novated, varied or supplemented from time to time and shall include
any additional and/or replacement interest rate swap agreement entered into by
such Issuer from time to time in connection with the Notes issued by such
Issuer;

"Interest Rate Swap Provider" means in relation to any Issuer the swap
counterparty to such Issuer under any relevant Interest Rate Swap Agreement of
such Issuer;

"Interest Rate Swap Provider Default" means the occurrence of an Event of
Default or a Downgrade Termination Event (as defined in the relevant Interest
Rate Swap Agreement) where the Interest Rate Swap Provider is the Defaulting
Party or the Affected Party (as defined in the relevant Interest Rate Swap
Agreement);

"Issuer" means the First Issuer or, as the context may require, any New Issuer;

"Issuer Account Bank" means, in relation to any Issuer, the bank at which the
Issuer Bank Accounts of such Issuer are maintained from time to time pursuant
to the relevant Issuer Transaction Documents;

"Issuer Account Mandates" means, in relation to any Issuer, the resolutions,
instructions, and Authorised Signatories relating to the Issuer Bank Accounts
substantially in the form scheduled to the relevant Issuer Bank Account
Agreement;

"Issuer Allocable Principal Receipts" has the meaning given to it in the rules
for application of Funding Available Principal Receipts under the Funding
Pre-Enforcement Principal Priority of

                                      23
<PAGE>

Payments set out in Part I of Schedule 3 to the Funding Deed of Charge;

"Issuer Allocable Revenue Receipts" for each Issuer will be calculated by the
Cash Manager on the Distribution Date immediately preceding the relevant
Payment Date and will be an amount not less than zero for each Issuer equal to
the sum of:

(1) the amount calculated by reference to the following formula:

                                            Outstanding Principal Balance of
(Funding available Revenue Receipts        the Intercompany Loan of such Issuer
(excluding all Issuer Reserve Funds     X -------------------------------------
and Issuer Liquidity Reserve Funds) - R     Aggregate Outstanding Principal
                                           Balance of the Intercompany Loans
                                                   of all Issuers

        where "R" = the sum of items (A), (B), (C) and (D) of the Funding
        Pre-Enforcement Revenue Priority of Payments or, as applicable, the
        sum of items (A), (B) and (C) of the Funding Post-Enforcement Priority
        of Payments;

(2)     the amount standing to the credit of the Issuer Reserve Fund Ledger in
        respect of such Issuer (but not in respect of any other Issuer),
        subject to any limits or conditions on the purposes for which that
        reserve may be utilised; and

(3)     the amount standing to the credit of the Issuer Liquidity Reserve
        Ledger, if any, in respect of such issuer (but not in respect of any
        other Issuer), subject to any limits or conditions on the purposes for
        which that reserve may be utilised.

"Issuer Arrears Test" is satisfied on a Payment Date if any Issuer Cash
Manager or the Cash Manager calculates on the Distribution Date immediately
preceding such Payment Date that as of the last day of the Trust Calculation
Period immediately preceding that Payment Date (i) the aggregate Current
Balance of the Mortgage Loans which are then in arrears for at least 3 months
is less than 4% of the aggregate Current Balance of all Mortgage Loans, unless
the Rating Agencies have confirmed that the then-current ratings of the Notes
will not be adversely affected by such test not having been met; and (ii) the
aggregate Interest Arrears in respect of all of the Mortgage loans in the
Mortgages Trust as a percentage of the aggregate gross interest due on all
Mortgage Loans during the previous 12 months, does not exceed 2%, or such
other percentage as is then acceptable to the then-current Rating Agencies at
such time.

"Issuer Available Principal Receipts" means, in relation to the First Issuer,
the Second Issuer and the Third Issuer, the First Issuer Available Principal
Receipts, the Second Issuer Available Principal Receipts, and the Third Issuer
Available Principal Receipts respectively, and in relation to any New Issuer,
the Current Issuer Available Principal Receipts as defined in the Issuer
Master Definitions Schedule relating to that New Issuer;

"Issuer Available Revenue Receipts" means, in relation to the First Issuer,
the Second Issuer and the Third Issuer, the First Issuer Available Revenue
Receipts, the Second Issuer Available Revenue Receipts, and the Third Issuer
Available Revenue Receipts respectively, and in relation to any New Issuer,
the Current Issuer Available Revenue Receipts as defined in the Issuer Master
Definitions Schedule relating to that New Issuer;

"Issuer Bank Account Agreement" means, in relation to the First Issuer, the
Second Issuer and the Third Issuer, the First Issuer Bank Account Agreement,
the Second Issuer Bank Account Agreement and the Third Issuer Bank Account
Agreement respectively, and in relation to any New Issuer, the Current Issuer
Bank Account Agreement as defined in the Issuer Master Definitions Schedule
relating

                                      24
<PAGE>

to that New Issuer;

"Issuer Bank Accounts" means, in relation to the First Issuer, the Second
Issuer and the Third Issuer, the First Issuer Bank Accounts, the Second Issuer
Bank Accounts and the Third Issuer Bank Accounts respectively and, in relation
to any New Issuer, the Current Issuer Bank Accounts as defined in the Issuer
Master Definitions Schedule relating to that New Issuer;

"Issuer Cash Management Agreement" means, in relation to the First Issuer, the
Second Issuer and the Third Issuer, the First Issuer Cash Management
Agreement, the Second Issuer Cash Management Agreement and the Third Issuer
Cash Management Agreement respectively, and in relation to any New Issuer, the
Current Issuer Cash Management Agreement as defined in the Issuer Master
Definitions Schedule relating to that New Issuer;

"Issuer Cash Manager" means, in relation to the First Issuer, the First Issuer
Cash Manager and in relation to any New Issuer, the person identified as
managing all cash transactions and maintaining certain ledgers on behalf of
such Issuer pursuant to the relevant Issuer Cash Management Agreement or such
other person as may from time to time be appointed as cash manager for such
Issuer pursuant to the relevant Issuer Cash Management Agreement;

"Issuer Deed of Charge" means in relation to the First Issuer, the First
Issuer Deed of Charge and in relation to any New Issuer, the deed of charge
entered into such Issuer with the Note Trustee;

"Issuer Jersey Secured Property" means:

(a)     in relation to the First Issuer, the First Issuer Jersey Secured
        Property as defined in the Issuer Master Definitions Schedule relating
        to the First Issuer;

(b)     in relation to the Second Issuer, the Second Issuer Jersey Secured
        Property as defined in the Issuer Master Definitions Schedule relating
        to the Second Issuer;

(c)     in relation to the Third Issuer, the Third Issuer Jersey Secured
        Property as defined in the Issuer Master Definitions Schedule relating
        to the Third Issuer; and

(d)     in relation to any other Issuer, the Current Issuer Jersey Secured
        Property as defined in the Issuer Master Definitions Schedule relating
        to that Issuer;

"Issuer Junior Notes" means:

(a)     in relation to the First Issuer, the Series 1 Class C Notes and the
        Series 2 Class C Notes as defined in the Issuer Master Definitions
        Schedule relating to the First Issuer,

(b)     in relation to the Second Issuer, the Series 1 Class C Notes, the
        Series 2 Class C Notes as defined in the Issuer Master Definitions
        Schedule relating to the Second Issuer, and

(c)     in relation to any other Issuer, the Junior Notes as defined in the
        relevant Issuer Master Definitions Schedule;

"Issuer Liquidity Reserve Fund" means, in relation to the First Issuer, the
First Issuer Liquidity Reserve Fund, in relation to the Second Issuer, the
Second Issuer Liquidity Reserve Fund and in relation to any New Issuer, the
Current Issuer Liquidity Reserve Fund as defined in the Issuer Master
Definitions Schedule which in each case Funding will be required to establish
pursuant to and in the circumstances set out in the Intercompany Loan of such
New Issuer ;

"Issuer Liquidity Reserve Ledger" means, in relation to the First Issuer, the
First Issuer Liquidity Reserve Ledger, in relation to the Second Issuer, the
Second Issuer Liquidity Reserve Ledger and in

                                      25
<PAGE>

relation to any New Issuer, the Current Issuer Liquidity Reserve Ledger as
defined in Issuer Master Definitions Schedule in each case maintained by the
Cash Manager in the name of Funding to record the balance from time to time of
the Issuer Liquidity Reserve Fund, if any;

"Issuer Liquidity Reserve Required Amount" means, in relation to the First
Issuer, the First Issuer Liquidity Reserve Required Amount, in relation to the
Second Issuer, the Second Issuer Liquidity Reserve Required Amount and in
relation to any New Issuer, Current Issuer Liquidity Reserve Required Amount
as defined in the Issuer Master Definitions Schedule relating to that New
Issuer in each case required to be maintained in the Issuer Liquidity Reserve
Fund, if any;

"Issuer Master Definitions Schedule" means, in relation to the First Issuer,
the First Issuer Master Definitions Schedule and in relation to any New Issuer
the relevant master definitions schedule relating to that New Issuer;

"Issuer Mezzanine Notes" means:

(a)     in relation to the First Issuer, the Series 1 Class B Notes and the
        Series 2 Class B Notes as defined in the Issuer Master Definitions
        Schedule relating to the First Issuer,

(b)     in relation to the Second Issuer, the Series 1 Class B Notes, the
        Series 2 Class B Notes as defined in the Issuer Master Definitions
        Schedule relating to the Second Issuer, and

(c)     in relation to any New Issuer, the Mezzanine Notes as defined in the
        relevant Issuer Master Definitions Schedule;

"Issuer Post-Enforcement Priority of Payments" means, in relation to the First
Issuer, the Second Issuer and the Third Issuer, the First Issuer
Post-Enforcement Priority of Payments, the Second Issuer Post-Enforcement
Priority of Payments and the Third Issuer Post-Enforcement Priority of
Payments respectively, and in relation to any New Issuer, the Current Issuer
Post-Enforcement Priority of Payments as defined in the Issuer Master
Definitions Schedule relating to that New Issuer;

"Issuer Post-Liquidity Payments" means, in the case of the First Issuer, the
payments set out in items (H) through (J) under the First Issuer
Pre-Enforcement Revenue Priority of Payments (or the relevant payments in the
equivalent items under such other First Issuer Priority of Payments as may
apply on that Payment Date), in the case of the Second Issuer, the payments
set out in items (H) through (J) under the Second Issuer Pre-Enforcement
Revenue Priority of Payments (or the relevant payments in the equivalent items
under such other Second Issuer Priority of Payments as may apply on that
Payment Date) and in the case of any New Issuer, means the Current Issuer
Post-Liquidity Payments as defined in the Issuer Master Definitions Schedule
relating to that New Issuer;

"Issuer Post-Reserve Payments" means, in the case of the First Issuer, the
payments set out in item (K) under the First Issuer Pre-Enforcement Revenue
Priority of Payments (or the relevant payments in the equivalent items under
such other First Issuer Priority of Payments as may apply on that Payment
Date), in the case of the Second Issuer, the payments set out in item (K)
under the Second Issuer Pre-Enforcement Revenue Priority of Payments (or the
relevant payments in the equivalent items under such other Second Issuer
Priority of Payments as may apply on that Payment Date), and in the case of
any New Issuer, means the Current Issuer Post-Reserve Payments as defined in
the Issuer Master Definitions Schedule relating to that New Issuer;

"Issuer Post Start-Up Payments" means, in the case of the First Issuer, the
payments set out in items (L) and (M) under the First Issuer Pre-Enforcement
Revenue Priority of Payments (or the relevant payments in the equivalent items
under such other First Issuer Priority of Payments as may apply on

                                      26
<PAGE>

that Payment Date), in the case of the Second Issuer, the payments set out in
items (L) and (O) under the Second Issuer Pre-Enforcement Revenue Priority of
Payments (or the relevant payments in the equivalent items under such other
Second Issuer Priority of Payments as may apply on that Payment Date) and in
the case of any New Issuer, means the Current Issuer Post Start-Up Payments as
defined in the Issuer Master Definitions Schedule relating to that New Issuer;

"Issuer Pre-Enforcement Principal Priority of Payments" means, in relation to
the First Issuer, the Second Issuer and the Third Issuer, the First Issuer
Pre-Enforcement Principal Priority of Payments, the Second Issuer
Pre-Enforcement Principal Priority of Payments and the Third Issuer
Pre-Enforcement Principal Priority of Payments respectively, and in relation
to any New Issuer, the Current Issuer Pre-Enforcement Principal Priority of
Payments as defined in the Issuer Master Definitions Schedule relating to that
New Issuer;

"Issuer Pre-Enforcement Priority of Payments" means, in relation to the First
Issuer, the Second Issuer and the Third Issuer, the First Issuer
Pre-Enforcement Priority of Payments, the Second Issuer Pre-Enforcement
Priority of Payments and the Third Issuer Pre-Enforcement Priority of Payments
respectively, and in relation to any New Issuer, the Current Issuer
Pre-Enforcement Priority of Payments as defined in the Issuer Master
Definitions Schedule relating to that New Issuer;

"Issuer Pre-Enforcement Revenue Priority of Payments" means, in relation to
the First Issuer, the Second Issuer and the Third Issuer, the First Issuer
Pre-Enforcement Revenue Priority of Payments, the Second Issuer
Pre-Enforcement Revenue Priority of Payments and the Third Issuer
Pre-Enforcement Revenue Priority of Payments respectively, and in relation to
any New Issuer, the Current Issuer Pre-Enforcement Revenue Priority of
Payments as defined in the Issuer Master Definitions Schedule relating to that
New Issuer;

"Issuer Pre-Liquidity Payments" means, in the case of the First Issuer, the
payments set out in items (A) through (G) under the First Issuer
Pre-Enforcement Revenue Priority of Payments (or the relevant payments in the
equivalent items under such other First Issuer Priority of Payments as may
apply on that Payment Date), in the case of the Second Issuer, the payments
set out in items (A) through (G) under the Second Issuer Pre-Enforcement
Revenue Priority of Payments (or the relevant payments in the equivalent items
under such other Second Issuer Priority of Payments as may apply on that
Payment Date) and, in the case of any New Issuer, means the Current Issuer
Pre-Liquidity Payments as defined in the Issuer Master Definitions Schedule
relating to that New Issuer;

"Issuer Pre-Reserve Payments" means, in relation to any Issuer (with the
exception of the First Issuer), the Current Issuer Pre-Reserve Payments as
defined in the Issuer Master Definitions Schedule relating to that New Issuer;

"Issuer Principal Deficiency Ledger" means, in relation to the First Issuer,
the First Issuer Principal Deficiency Ledger and in relation to any New
Issuer, the ledger maintained by the Issuer Cash Manager in the name of such
Issuer which will be established on the relevant Closing Date and will be
sub-divided into sub ledgers corresponding to the classes of Notes issued by
such Issuer in order to record Losses allocated to the Intercompany Loan of
such Issuer which are to be allocated to such Notes, the application of Issuer
Available Principal Receipts of such Issuer in paying interest on the Notes
issued by such Issuer and certain amounts ranking in priority thereto in
accordance with the Issuer Pre-Enforcement Revenue Priority of Payments of
such Issuer and the application by Funding of Issuer Allocable Principal
Receipts of the such Issuer to fund or replenish the Issuer Liquidity Reserve
Fund (if any) of such Issuer;

                                      27
<PAGE>

"Issuer Principal Deficiency Sub Ledger" means, in relation to the First
Issuer, any First Issuer Principal Deficiency Sub Ledger and in relation to
any New Issuer, any of the sub ledgers of the Issuer Principal Deficiency
Ledger of such Issuer relating to any class of Notes issued by such Issuer;

"Issuer Principal Payments" means, in relation to the First Issuer, the
payments set forth in items (A) through (E) under the First Issuer
Pre-Enforcement Principal Priority of Payments (or the relevant payments set
forth in the equivalent items in such other First Issuer Priority of Payments
as may apply on that Payment Date), in relation to the Second Issuer, the
payments set forth in items (A) through (E) under the Second Issuer
Pre-Enforcement Principal Priority of Payments (or the relevant payments set
forth in the equivalent items in such other Second Issuer Priority of Payments
as may apply on that Payment Date) and in relation to any New Issuer, the
Current Issuer Principal Payments as defined in the Issuer Master Definitions
Schedule relating to that New Issuer;

"Issuer Principal Receipts" means, in relation to the First Issuer, the First
Issuer Principal Receipts and in relation to any New Issuer, the principal
amounts repaid by Funding in respect of the Intercompany Loan of such Issuer;

"Issuer Priority of Payments" means, in relation to the First Issuer, the
First Issuer Priority of Payments and in relation to any New Issuer, as
applicable, any of the relevant Issuer Pre-Enforcement Revenue Priority of
Payments, the Issuer Pre-Enforcement Principal Priority of Payments or the
Issuer Post-Enforcement Priority of Payments;

"Issuer Reserve Fund" means, in relation to the First Issuer, the First Issuer
Reserve Fund, in relation to the Second Issuer, the Second Issuer Reserve Fund
and in relation to any New Issuer, the Current Issuer Reserve Fund as defined
in the Issuer Master Definitions Schedule relating to that Issuer, in each
case established in the name of Funding in respect of such Issuer as required
under the terms of the relevant Intercompany Loan of such Issuer on the
relevant Closing Date in an amount equal to the Issuer Reserve Required
Amount;

"Issuer Reserve Fund Ledger" means, in relation to the First Issuer, the First
Issuer Reserve Fund Ledger, in relation to the Second Issuer, the Second
Issuer Reserve Fund Ledger and in relation to any New Issuer, the Current
Issuer Reserve Fund Ledger as defined in the Issuer Master Definitions
Schedule relating to that Issuer, in each case maintained by the Cash Manager
in the name of Funding to record the amount credited to the Issuer Reserve
Fund held by Funding in respect of such Issuer on the relevant Closing Date,
and subsequent withdrawals and deposits in respect of the Issuer Reserve Fund;

"Issuer Reserve Required Amount" means, in relation to the First Issuer, the
First Issuer Reserve Required Amount, in relation to the Second Issuer, the
Second Issuer Reserve Required Amount and in relation to any New Issuer, the
Current Issuer Reserve Required Amount as defined in the Issuer Master
Definitions Schedule relating to that Issuer in each case required to be
maintained in the Issuer Reserve Fund of such Issuer;

"Issuer Reserve Requirement" means a requirement that will be satisfied in
respect of any Issuer if, after taking account of the application of any
Funding Available Revenue Receipts to the credit of the Issuer Reserve Fund
Ledgers, the amount of funds in the Issuer Reserve Fund of such Issuer is
equal to the relevant Issuer Reserve Required Amount;

"Issuer Secured Creditors" means, in relation to the First Issuer, the Second
Issuer and the Third Issuer, the First Issuer Secured Creditors, the Second
Issuer Secured Creditors and the Third Issuer

                                      28
<PAGE>

Secured Creditors respectively and in relation to any New Issuer, the Current
Issuer Secured Creditors as defined in the Issuer Master Definitions Schedule
relating to that New Issuer;

"Issuer Security" means in relation to the First Issuer, the First Issuer
Security and in relation to any New Issuer, the security created by such
Issuer pursuant to the relevant Issuer Deed of Charge in favour of the Note
Trustee for the benefit of the Issuer Secured Creditors;

"Issuer Senior Notes" means:

(a)     in relation to the First Issuer, the Series 1 Class A Notes and the
        Series 2 Class A Notes as defined in the Issuer Master Definitions
        Schedule relating to the First Issuer,

(b)     in relation to the Second Issuer, the Series 1 Class A Notes, the
        Series 2 Class A Notes as defined in the Issuer Master Definitions
        Schedule relating to the Second Issuer, and

(c)     in relation to any other Issuer, the Senior Notes as defined in the
        relevant Issuer Master Definitions Schedule;

"Issuer Special Notes" means:

(a)     in relation to the Second Issuer, the Series 2 Class D Notes as
        defined in the Issuer Master Definitions Schedule relating to the
        First Issuer,

(b)     in relation to any other Issuer (other than the First Issuer), the
        Special Notes as defined in the relevant Issuer Master Definitions
        Schedule;

"Issuer Start-up Loan Agreement" means, in relation to any Issuer, the
agreement entered into on or about the Closing Date in relation to that Issuer
between Funding, the relevant Start-up Loan Provider and the Security Trustee
relating to the provision of the Issuer Start-up Loan to Funding as may be
amended, restated, novated, varied or supplemented from time to time and shall
include any additional and/or replacement start-up loan agreement entered into
by such parties in accordance with the Transaction Documents;

"Issuer Start-up Loan Provider" means Northern Rock, in its capacity as
provider of an Issuer Start-up Loan and/or such other person or persons for
the time being the lender under the relevant Issuer Start-up Loan Agreement;

"Issuer Transaction Accounts" means, in relation to the First Issuer, the
Second Issuer and the Third Issuer, the First Issuer Transaction Accounts, the
Second Issuer Transaction Accounts and the Third Issuer Transaction Accounts
and in relation to any New Issuer, the Current Issuer Transaction Accounts as
defined in the Issuer Master Definitions Schedule relating to that Issuer;

"Issuer Transaction Documents" means, in relation to the First Issuer, the
Second Issuer and the Third Issuer, the First Issuer Transaction Documents,
the Second Issuer Transaction Documents and the Third Issuer Transaction
Documents and in relation to any New Issuer, the Current Issuer Transaction
Documents as defined in the Issuer Master Definitions Schedule relating to
that Issuer;

"Jersey Account Bank" means Lloyds TSB Bank plc, Jersey International Branch;

"Jersey Secured Property" means, as the context requires, the Issuer Jersey
Secured Property or the Funding Jersey Secured Property;

"Jersey Security Law" has the meaning given to it in Clause 3.1 (Trust
Property) of the Funding Deed of Charge;

                                      29
<PAGE>

"Lending Criteria" means the lending criteria of the Seller which may be
amended from time to time (forming part of the Seller's Policy) which as at
the Initial Closing Date is set out in Schedule 11 (Lending Criteria) to the
Mortgage Sale Agreement and/or such other criteria as would be acceptable to a
reasonable, prudent mortgage lender;

"LIBOR" means, unless stated otherwise, the London inter-bank offered rate for
deposits in the relevant currency, as determined by the relevant Agent Bank in
respect of the related Notes as specified in the Conditions or otherwise on
the following basis:

(1)     on the applicable Interest Determination Date the Agent Bank will
        determine the offered quotation to leading banks for deposits in the
        relevant currency for a period equal to the relevant period, to be
        determined by reference to the display as quoted on the
        Dow-Jones/Telerate Page No. 3750. If the Telerate Page No. 3750 stops
        providing these quotations, the replacement page for the purposes of
        displaying this information will be used. If the replacement page
        stops displaying the information, another service as determined by the
        relevant Issuer with the approval of the Note Trustee will be used. In
        each of these cases, such determination will be made as at or about
        11.00 a.m. (London time) on such date;

(2)     if, on any such Interest Determination Date, the screen rate is
        unavailable, the Agent Bank will:

(a)     request the principal London office of each of the Reference Banks to
        provide the Agent Bank with its offered quotation to leading banks for
        deposits in the relevant currency of the equivalent amount, and for a
        time equal to the relevant period, in the London inter-bank market as
        at or about 11.00 a.m. (London time) on such date; and

(b)     calculate the arithmetic mean, rounded upwards to five decimal places,
        of those quotations;

(3)     if on any such Interest Determination Date, the screen rate is
        unavailable and only two or three of the Reference Banks provide
        offered quotations, the relevant rate for the relevant period will be
        the arithmetic mean of the quotations as calculated in (2); and

(4)     if fewer than two Reference Banks provide quotations, the Agent Bank
        will consult with the Note Trustee and the relevant Issuer for the
        purpose of agreeing a total of two banks to provide such quotations
        and the relevant rate for the relevant period will be the arithmetic
        mean of the quotations as calculated in (2). If no such banks agree
        then the relevant rate for the relevant period will be the rate in
        effect for the last preceding such period for which (1) or (2) was
        applicable;

"Life Policy" means each life insurance and/or assurance policy which serves
as collateral security for the repayment of a Mortgage Loan;

"Lloyds TSB" means Lloyds TSB Bank plc;

"Lloyds TSB Collection Account" means the account in the name of Northern Rock
as Administrator (sort code 30/00/02, account number 0893639) held with Lloyds
TSB Bank plc and maintained subject to the terms of the Collection Bank
Agreement or such additional or replacement account as may for the time being
be in place;

"Loan Repurchase Notice" means the notice served upon the Seller by the
Mortgages Trustee or upon the Mortgages Trustee by the Seller requiring the
repurchase by or re-transfer to the Seller of specified Mortgage Loans and
their Related Security, as set forth in Schedule 7 to the Mortgage Sale

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<PAGE>

Agreement;

"London Business Day" means a day (other than a Saturday or Sunday or public
holiday) on which banks are generally open for business in London;

"London Stock Exchange" means at any time the London Stock Exchange plc or any
other Person which at that time administers and manages the primary market in
the United Kingdom upon which the Notes are formally admitted for public
trading;

"Losses" means the realised losses experienced on the Mortgage Loans which are
in the Mortgages Portfolio;

"Losses Ledger" means the ledger of such name created and maintained by the
Cash Manager in the name of the Mortgages Trustee pursuant to the Cash
Management Agreement to record the Losses on the Mortgage Portfolio;

"LTV ratio" or "loan-to-value ratio" means , in respect of any Mortgage Loan
assigned to the Mortgages Trust, the ratio of the outstanding balance of such
Mortgage Loan to the value of the Mortgaged Property securing such Mortgage
Loan; and in respect of the Seller's decision as to whether to make a mortgage
loan to a prospective borrower and for purposes of determining whether a MIG
Policy is necessary in connection with a mortgage loan, the ratio of the
outstanding balance of such mortgage loan to the lower of the purchase price
or valuation of the mortgages property securing such mortgage loan as
determined by the relevant valuation by the Seller;

"LTV tests" mean two tests which assign a credit enhancement value (i) to each
Mortgage Loan in the Mortgage Portfolio based on its current LTV ratio and the
amount of mortgage indemnity cover on that Mortgage Loan, and (ii) calculated
to include any related unsecured portion of a Mortgage Loan in respect of the
Together product based on its current LTV ratio and the amount of mortgage
indemnity cover on that mortgage loan. The weighted average credit enhancement
value of the Mortgage Portfolio is then determined;

"Mandates" means the resolutions, instructions and signature authorities
relating to any of the Barclays Collection Account, the Lloyds TSB Collection
Account, the Mortgages Trustee Bank Accounts, the Funding Bank Accounts and
the Issuer Transaction Accounts in the respective forms agreed between the
relevant parties from time to time in accordance with the Collection Bank
Agreement, the Bank Account Agreement, the relevant Funding (Issuer) Bank
Account Agreement and the relevant Issuer Bank Account Agreement, as
applicable;

"Master Definitions Schedule" means this Master Definitions Schedule signed
for the purposes of identification by Brown & Wood and Clifford Chance Limited
Liability Partnership on or about the Initial Closing Date, as the same may be
amended, varied or supplemented from time to time, which is a schedule of the
definitions used in the Transaction Documents;

"MIG Policies" means the MIG insurance policy identified in paragraph 1 of
Schedule 4 (Insurance Contracts) to the Mortgage Sale Agreement and any
endorsements or extensions thereto as issued from time to time and any
additional, replacement or substitute MIG insurance policy which relates to
the Mortgage Loans in the Mortgages Portfolio from time to time;

"Minimum Seller Share" means an amount included in the Initial Seller Share
which is calculated in accordance with Clause 9.2 (Fluctuation of Minimum
Seller Share on each Distribution Date) of the Mortgages Trust Deed and which,
as at the Initial Closing Date is (GBP)50,000,000. The Minimum Seller

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<PAGE>

Share may be recalculated in accordance with the Mortgages Trust Deed;

"Money Market Notes" means, in respect of any Issuer, the Money Market Notes
as defined in the relevant Issuer Master Definitions Schedule and eligible for
purchase by money market funds under Rule 2a-7 of the US Investment Company
Act of 1940, as amended;

"Monthly Payment" means, in respect of a Mortgage Loan, the amount which the
applicable Mortgage Conditions require a Borrower to pay on a Monthly Payment
Date in respect of such Mortgage Loan;

"Monthly Payment Date" means, in respect of a Mortgage Loan, the date in each
month on which the relevant Borrower is required to make a payment of interest
and, if applicable, principal, in respect of such Mortgage Loan, as required
by the applicable Mortgage Conditions;

"Moody's" means Moody's Investors Services Inc. and includes any successor to
its rating business;

"Mortgage" means, in relation to a Mortgage Loan, the charge by way of legal
mortgage which secures the repayment of such Mortgage Loan;

"Mortgage Account" means as the context requires (i) all Mortgage Loans
secured on the same Mortgaged Property and thereby forming a single mortgage
account or (ii) an account maintained by the Administrator in respect of a
particular Mortgage Loan to record all amounts due in respect of that Mortgage
Loan (whether by way of principal, interest or otherwise) and all amounts
received in respect thereof;

"Mortgage Conditions" means, in relation to a Mortgage Loan, the terms and
conditions applicable to that Mortgage Loan and its Related Security as set
out in the relevant Seller's "Mortgage Conditions" booklet and the Seller's
relevant general conditions from time to time as varied by the relevant
Mortgage Loan Agreement and the relevant Mortgage Deed, and any variation or
supplement thereto;

"Mortgage Deed" means, in relation to each Mortgage, the deed creating such
Mortgage including, unless the context otherwise requires, the Mortgage
Conditions applicable thereto;

"Mortgage Loan" means unless specified otherwise any mortgage loan and any
Permitted Replacement Mortgage Loan which is assigned by the Seller to the
Mortgages Trustee from time to time pursuant to the terms of the Mortgage Sale
Agreement and referenced by its mortgage loan identifier number and comprising
the aggregate of all principal sums, interest, costs, charges, expenses and
other monies (including all Further Advances) due or owing with respect to
that Mortgage Loan under the relevant Mortgage Conditions by a Borrower on the
security of a Mortgage from time to time outstanding or, as the context may
require, the Borrower's obligations in respect of the same;

"Mortgage Loan Agreement" means, in relation to any Mortgage Loan, the
agreement, facility letter or accepted offer of advance pursuant to which the
monies secured by the relevant Mortgage were advanced to the Borrower (as
varied from time to time in accordance with the applicable Mortgage Conditions
and including any modifying agreement within the meaning of Section 82 of the
Consumer Credit Act 1974 insofar as it relates to that Mortgage Loan);

"Mortgage Loan Files" means, in relation to each Mortgage Loan, the file or
files (including files kept in microfiche format or similar electronic data
retrieval system) containing correspondence between the Borrower and the
Seller and including the Standard Mortgage Documentation applicable

                                      32
<PAGE>

to that Mortgage Loan, each letter of offer in respect of such Mortgage Loan
and other relevant documents;

"Mortgage Portfolio" means, on any particular date, the combined Initial
Mortgage Portfolio and any New Mortgage Portfolio which has been assigned to
the Mortgages Trustee on such date pursuant to the Mortgage Sale Agreement,
taking account of, among other things, the addition and/or removal of any
Mortgage Loans to or from that portfolio from the relevant Closing Date but
excluding any Mortgage Loan and its Related Security which has been redeemed
in full or repurchased by the Seller pursuant to Clause 8 (Warranties and
Repurchase by the Seller) of the Mortgage Sale Agreement;

"Mortgage Rate" means the rate at which interest accrues on a Mortgage Loan
from time to time;

"Mortgage Sale Agreement" means the mortgage sale agreement entered into on or
about the Initial Closing Date among the Seller, the Mortgages Trustee,
Funding and the Security Trustee in relation to the assignment from time to
time of the Mortgage Portfolio to the Mortgages Trustee as may be amended,
restated, novated, varied or supplemented from time to time and shall include
any additional and/or replacement mortgage sale agreement entered into by such
parties from time to time in accordance with the Transaction Documents;

"Mortgage Terms" means, in relation to a Mortgage Loan and the relevant
Mortgage, the applicable Mortgage Conditions;

"Mortgaged Property" means, in relation to any Mortgage Loan, the freehold or
leasehold property in England and Wales and all rights and security attached
or appurtenant or related thereto and all buildings and fixtures thereon which
are subject to the Mortgage securing repayment of such Mortgage Loan;

"Mortgagee" means, in relation to any Mortgage Loan, the person for the time
being entitled to exercise the rights of the mortgagee under the relevant
Mortgage securing repayment of such Mortgage Loan;

"Mortgages Trust" means the bare trust of the Trust Property as to both
capital and income, held by the Mortgages Trustee on trust absolutely for
Funding (as to the Funding Share) and the Seller (as to the Seller Share)
pursuant to the Mortgages Trust Deed so that each Beneficiary has an undivided
beneficial interest therein;

"Mortgages Trust Deed" means the mortgages trust deed entered into among the
Mortgages Trustee, Funding and the Seller on 26 March 2001 as may be amended,
restated, novated, varied or supplemented from time to time and shall include
any additional and/or replacement mortgage trust deed entered into by such
parties from time to time in accordance with the Transaction Documents;

"Mortgages Trustee" means Granite Finance Trustees Limited, a company
incorporated with limited liability under the laws of Jersey, registered
number 79309;

"Mortgages Trustee Available Revenue Receipts" means on any Distribution Date
an amount equal to the aggregate of (in each case in the period prior to the
end of the immediately preceding Trust Calculation Period):

(a)     Revenue Receipts received by the Mortgages Trustee (which shall
        include, in respect of any Non-Flexible Mortgage Loan only, the amount
        of any Overpayment made by the Borrower in respect of such Mortgage
        Loan as is equal to the amount of any Underpayment of interest made by
        such Borrower in respect of such Mortgage Loan in the immediately
        preceding Trust

                                      33
<PAGE>

        Calculation Period provided that such Underpayment of interest is made
        prior to 31 December in the year in which such Overpayment is received
        from the Borrower),

(b)     interest payable to the Mortgages Trustee on the Mortgages Trustee
        Bank Accounts, which will be received on or prior to the relevant
        Distribution Date, and

(c)     any Contribution paid by the Seller to the Mortgages Trustee to fund
        any Non-Cash Re-Draw in respect of any Flexible Mortgage Loan,

        less

(d)     Third Party Amounts, and

(e)     amounts distributed on each previous Distribution Date in accordance
        with the Mortgages Trust Distribution of Revenue Receipts

PROVIDED THAT Revenue Receipts in paragraph (a) above shall for this purpose
include such amount of any Overpayment made by a Borrower in respect of a
Non-Flexible Mortgage Loan and standing to the credit of the Overpayments
Ledger as is applied on such date in reduction of any Underpayment of Interest
made by such Borrower in respect of such Mortgage Loan in the immediately
preceding Trust Calculation Period (provided that such Underpayment of
Interest is made prior to 31 December in the year in which such Overpayment is
received from the Borrower) in accordance with Clause 13.1 (Non-Flexible
Mortgage Loans) of the Mortgages Trust Deed;

"Mortgages Trustee Bank Accounts" means the Mortgages Trustee Transaction
Account and the Mortgages Trustee GIC Account;

"Mortgages Trustee Collection Accounts Amounts" means all amounts from time to
time standing to the credit of the Collection Accounts to the extent that such
amounts represent payments into the Collection Accounts of sums derived or
resulting from the Mortgage Loans and their Related Security sold to the
Mortgages Trustee pursuant to the Mortgage Sale Agreement;

"Mortgages Trustee Distribution of Principal Receipts" means the order in
which the Cash Manager will apply the Mortgages Trustee Principal Receipts on
each Distribution Date, as set forth in Clause 11 (Distribution of Principal
Receipts) of the Mortgages Trust Deed;

"Mortgages Trustee Distribution of Revenue Receipts" means the order in which
the Cash Manager will apply the Mortgages Trustee Available Revenue Receipts
on each Distribution Date, as set forth in Clause 10 (Distribution of Revenue
Receipts) of the Mortgages Trust Deed;

"Mortgages Trustee GIC Account Mandate" means the resolutions, instructions
and signature authorities relating to the Mortgages Trustee GIC Account
substantially in the form set out in Schedule 1 to the Bank Account Agreement;

"Mortgages Trustee GIC Account" means the account in the name of the Mortgages
Trustee (sort code 30/16/63, account number 27034016) held at the Account Bank
and maintained subject to the terms of Mortgages Trustee Guaranteed Investment
Contract and the Bank Account Agreement or such additional or replacement bank
account of the Mortgages Trustee as may for the time being be in place with
the prior consent of the Security Trustee which is subject to a Guaranteed
Investment Contract;

"Mortgages Trustee GIC Provider" means Lloyds TSB Bank plc, Jersey
International Branch, 25 New Street, St. Helier, Jersey JE4 8ZE, Channel
Islands or such other person or persons as are for the

                                      34
<PAGE>

time being the GIC provider to Funding under the Funding Guaranteed Investment
Contract and any Funding (Issuer) Guaranteed Investment Contract;

"Mortgages Trustee Guaranteed Investment Contract" means the guaranteed
investment contract dated on or about the Initial Closing Date between the
Mortgages Trustee, the Mortgages Trustee GIC Provider, the Security Trustee
and the Cash Manager under which the Mortgages Trustee GIC Provider agrees to
pay the Mortgages Trustee a guaranteed rate of interest on the balance of the
Mortgages Trustee GIC Account from time to time as may be amended, restated,
novated, varied or supplemented from time to time and shall include any
additional and/or replacement guaranteed investment contract entered into by
such parties from time to time in accordance with the Transaction Documents;;

"Mortgages Trustee Ledgers" means all of the ledgers as are required to be
maintained pursuant to Clause 15 (Ledgers) of the Mortgages Trust Deed;

"Mortgages Trustee Principal Priority of Payments" means the order in which
the Cash Manager will apply the Mortgages Trustee Principal Receipts on each
Distribution Date, as set forth in Clause 11 (Distribution of Principal
Receipts) of the Mortgages Trust Deed;

"Mortgages Trustee Principal Receipts" means, on any Distribution Date, any
Mortgages Trustee Retained Principal Receipts plus the Principal Receipts
received by the Mortgages Trustee in the immediately preceding Trust
Calculation Period which may be distributed, subject to Clause 13
(Overpayments) of the Mortgages Trust Deed, in accordance with Clause 11 of
the Mortgages Trust Deed;

"Mortgages Trustee Priority of Payments" means, as applicable, the Mortgages
Trustee Revenue Priority of Payments or the Mortgages Trustee Principal
Priority of Payments;

"Mortgages Trustee Retained Principal Receipts" means on a Seller Share Event
Distribution Date, the Mortgages Trustee Principal Receipts which are not
distributed to the Seller by the Cash Manager and which are instead deposited
into the Mortgages Trustee GIC Account;

"Mortgages Trustee Revenue Priority of Payments" means the order in which the
Cash Manager will apply the Mortgages Trustee Available Revenue Receipts on
each Distribution Date, as set forth in Clause 10 (Distribution of Revenue
Receipts) of the Mortgages Trust Deed;

"Mortgages Trustee Transaction Account" means the account in the name of the
Mortgages Trustee (sort code 30/16/63, account number 27033010) held at the
Account Bank and maintained subject to the terms of the Bank Account
Agreement, or such additional or replacement bank account of the Mortgages
Trustee as may for the time being be in place;

"Mortgages Trustee Transaction Account Mandate" means the resolutions,
instructions and signature authorities relating to the Mortgages Trustee
Transaction Account substantially in the form set out in Schedule 1 to the
Bank Account Agreement;

"New Closing Date" means the date of any issue of New Notes by a New Issuer;

"New Funding Secured Creditor" means any person identified as such in any Deed
of Accession executed pursuant to the Funding Deed of Charge by such person
and the other parties thereto;

"New Intercompany Loan" means a loan of the net proceeds of any issue of New
Notes, such loan being advanced to Funding by a New Issuer pursuant to the
terms of a New Intercompany Loan

                                      35
<PAGE>

Agreement;

"New Intercompany Loan Agreement" means a new intercompany loan agreement
entered into between Funding and a New Issuer in relation to a New
Intercompany Loan;

"New Issuer" means a new wholly-owned subsidiary of Funding, which is
established to issue New Notes and to make a New Intercompany Loan to Funding;

"New Mortgage Loans" means Mortgage Loans, other than the Initial Mortgage
Loans, which the Seller may assign, from time to time, to the Mortgages
Trustee after the Initial Closing Date pursuant to the Mortgage Sale
Agreement;

"New Mortgage Portfolio" means any portfolio of Mortgage Loans and their
Related Security which are assigned to the Mortgages Trustee on or about the
relevant Assignment Date, particulars of which are set out in the Schedule to
each New Mortgage Portfolio Notice delivered pursuant to the Mortgage Sale
Agreement but excluding any such Mortgage Loan and its Related Security which
has been redeemed in full on or before the relevant Assignment Date, and
(subject where applicable to the subsisting rights of redemption of the
Borrowers) all right, title, interest and benefit of the Seller in and to:

(a)     all sums of principal, interest (including, for the avoidance of
        doubt, all Accrued Interest, Arrears of Interest and Capitalised
        Arrears) and any other sum due or to become due under or in respect of
        such Mortgage Loans and their Related Security on or after such
        Closing Date and all sums of interest and other sums payable (but not
        paid before such Closing Date) in respect of any period before such
        Closing Date and including, without limitation, the right to demand,
        sue for, recover and give receipts for all such principal, interest or
        other amounts, the right to sue on all covenants and undertakings made
        or expressed to be made in favour of the Seller under the applicable
        Mortgage and all sums due or to become due in respect of any Early
        Repayment Charge;

(b)     the benefit of all securities for such principal, interest and other
        sums payable (including without limitation any interest of the Seller
        in any Life Policy), the benefit of all Deeds of Consent and Deeds of
        Postponement, any Guarantee in respect of such Mortgage Loan or any
        other collateral security for the repayment of the relevant Mortgage
        Loans secured by the Mortgages;

(c)     the right to exercise all the powers of the Seller in relation thereto
        subject to and in accordance with the relevant Mortgage Conditions;

(d)     all the estate and interest in the Mortgaged Properties in relation
        thereto vested in the Seller;

(e)     to the extent they are assignable, each Certificate of Title and
        Valuation Report and any right of action of the Seller against any
        solicitor, valuer or other person in connection with any report,
        valuation, opinion, certificate or other statement of fact or opinion
        given in connection with any Mortgage Loan and its Related Security in
        that portfolio of Mortgage Loans, or any part thereof or affecting the
        decision of the Seller to make or offer to make the relevant Mortgage
        Loan or part thereof;

(f)     the Buildings Policies and Insurance Contracts, in each case so far as
        they relate to such Mortgage Loans comprised in that portfolio of
        Mortgage Loans and their Related Security, including the right to
        receive the proceeds of all claims made or to be made by or on behalf
        of

                                      36
<PAGE>

        the Seller or to which the Seller is or may become entitled;

(g)     the MIG Policies, so far as they relate to such Mortgage Loans
        comprised in that portfolio of Mortgage Loans and their Related
        Security, including the right to receive of all claims made or to be
        made by or on behalf of the Seller or to which the Seller is or may
        become entitled;

"New Notes" means the notes issued and/or to be issued by the New Issuers to
investors;

"New Start-Up Loan" means a start-up loan made by a New Start-Up Loan Provider
to Funding under a New Start-Up Loan Agreement;

"New Start-Up Loan Agreement" means any new start-up loan agreement entered
into from time to time between Funding and a New Start-Up Loan Provider
pursuant to which a New Start-Up Loan is advanced to Funding;

"New Start-Up Loan Provider" means the lender under any New Start-Up Loan
Agreement;

"New Trust Property" means, as the context requires, each New Mortgage
Portfolio from time to time assigned by the Seller to the Mortgages Trustee or
as of any Closing Date the New Mortgage Portfolio assigned to the Mortgages
Trustee on such date or as of any Distribution Date, any and all New Mortgage
Portfolios assigned by the Seller to the Mortgages Trustee during the
immediately preceding Trust Calculation Period;

"New York Business Day" means a day (other than a Saturday or a Sunday or
public holiday) on which banks are generally open in the city of New York;

"Non-Asset Trigger Event" means the occurrence of any of the following events:

(a)     an Insolvency Event occurs in relation to the Seller;

(b)     the role of the Seller as Administrator under the Administration
        Agreement is terminated and a new Administrator is not appointed
        within 60 days; or

(c)     on the Distribution Date immediately succeeding a Seller Share Event
        Distribution Date, the Current Seller Share is equal to or less than
        the Minimum Seller Share (determined using the amounts of the Current
        Seller Share and Minimum Seller Share that would exist after making
        distributions of Mortgages Trustee Principal Receipts due on that
        Distribution Date on the basis that the Cash Manager assumes that
        those Mortgages Trustee Principal Receipts are distributed in the
        manner described under the Mortgages Trustee Principal Priority of
        Payments set forth in Clause 11.1 of the Mortgages Trust Deed;

"Non-Cash Re-Draw" means an Authorised Underpayment or a Payment Holiday under
a Flexible Mortgage Loan included in the Mortgages Trust, which will result in
the Seller being required to pay to the Mortgages Trustee an amount equal to
the Unpaid Interest associated with that Authorised Underpayment or Payment
Holiday;

"Non-Cash Re-Draws Sub Ledger" means the sub-ledger of the Re-Draws Ledger,
which will be established by the Cash Manager on the Initial Closing Date in
order to record any Non-Cash Re-Draws made with respect to Flexible Mortgage
Loans;

"Non-Flexible Mortgage Loan" means a Mortgage Loan other than a Flexible
Mortgage Loan;

"Non-Flexible Overpayments Sub Ledger" means the sub-ledger of the
Overpayments Ledger corresponding to Non-Flexible Mortgage Loans, which will
be established by the Cash Manager on the Initial Closing Date in order to
record any Overpayments made with respect to Non-Flexible

                                      37
<PAGE>

Mortgage Loans;

"Non-Flexible Underpayments Ledger" means the ledger maintained by the Cash
Manager in the name of the Mortgages Trustee pursuant to the Cash Management
Agreement to record any Underpayments made with respect to Non-Flexible
Mortgage Loans in the Mortgages Trust from time to time;

"Northern Rock Collection Accounts Amounts" means all amounts from time to
time standing to the credit of the Collection Accounts to the extent that such
amounts represent payments into the Collection Accounts of sums derived or
resulting from mortgage loans originated by Northern Rock which have not been
sold to the Mortgages Trustee pursuant to the Mortgage Sale Agreement;

"Northern Rock" means Northern Rock plc (registered number 3273685), a public
limited company incorporated under the laws of England and Wales, whose
registered office is at Northern Rock House, Gosforth, Newcastle upon Tyne NE3
4PL;

"Note Determination Date" means, in relation to the First Issuer, the First
Issuer Note Determination Date and in relation to any New Notes, the
Distribution Date immediately preceding the Payment Date;

"Note Enforcement Notice" means, in relation to the First Issuer, the First
Issuer Note Enforcement Notice and in relation to any New Issuer, a notice
issued by the Note Trustee to such Issuer and the Security Trustee declaring
the Notes issued by such Issuer or any class of such Notes to be due and
repayable pursuant to Conditions of such New Notes;

"Note Event of Default" means, in relation to the First Issuer, a First Issuer
Note Event of Default and in relation to any New Issuer, the occurrence of an
event of default by the relevant Issuer as specified in the relevant
Conditions of the Notes issued by such New Issuer;

"Noteholders" means, in relation to the First Issuer Notes, the Class A
Noteholders, the Class B Noteholders and the Class C Noteholders or any of
them and, in relation to any New Notes, the holders for the time being of such
New Notes;

"Note Principal Payment" means the principal amount redeemable from time to
time on each Note in accordance with the Conditions;

"Notes" means in relation to the First Issuer, the First Issuer Notes and, in
relation to any New Issuer, the New Notes issued by such New Issuer;

"Note Trustee" means The Bank of New York, or such person or persons for the
time being acting as note trustee or trustees under the Trust Deeds relating
to the Notes;

"Offer Conditions" means the terms and conditions applicable to a specified
Mortgage Loan as set out in the relevant offer letter to the Borrower;

"Official List" means the Official List maintained by the UK Listing Authority;

"Operating Agreements" means the Administration Agreement, the Mortgage Sale
Agreement, the Seller's Power of Attorney and the Mortgages Trust Deed;

"Option Exercise Date" means the date on which the Post-Enforcement Call
Option Holder exercises its option to acquire all of the Notes outstanding as
at such date, together with accrued interest thereon;

                                      38
<PAGE>

"Outstanding Principal Balance" means:

(a)     in relation to any Note and as of any date, means the unpaid principal
        balance of that Note at such date; and

(b)     in relation to any Intercompany Loan and as of any date, means the
        unpaid principal balance of that Intercompany Loan at such date;

"Overpayment" means in respect of any Mortgage Loan, any additional amounts of
Principal Receipts received in a month above the regular, scheduled Monthly
Payment, paid by the relevant Borrower which (a) is permitted by the terms of
such Mortgage Loan or by agreement with the Borrower and (b) reduces the
Current Balance of such Mortgage Loan;

"Overpayments Ledger" means the ledger of such name maintained by the Cash
Manager in the name of the Mortgages Trustee pursuant to the Cash Management
Agreement to record Overpayments on Mortgage Loans in the Mortgages Trust from
time to time which ledger will be sub-divided into two sub ledgers: (i) the
Non-Flexible Overpayments Sub Ledger corresponding to Overpayments made on
Non-Flexible Mortgage Loans, and (ii) the Flexible Overpayments Sub Ledger
corresponding to Overpayments made on Flexible Mortgage Loans;

"Paying Agent and Agent Bank Agreement" means, in relation to the First
Issuer, the First Issuer Paying Agent and Agent Bank Agreement and, in
relation to any New Issuer, has the meaning specified under the relevant
Issuer Transaction Documents;

"Paying Agents" means in relation to the First Issuer, the Principal Paying
Agent and the US Paying Agent initially appointed as paying agents pursuant to
the First Issuer Paying and Agent Bank Agreement and, in relation to any New
Issuer, the Principal Paying Agent and US Paying Agent appointed pursuant to
the Paying Agent and Agent Bank Agreement relating to that New Issuer or, if
applicable, any successor paying agents;

"Payment Date" means, in relation to the First Issuer, the twentieth day of
July, October, January and April in each year or, if such day is not a
Business Day, the next succeeding Business Day, beginning in July 2001, and,
in relation to any New Issuer, has the meaning specified under the relevant
Issuer Master Definitions Schedule;

"Payment Holiday" means, in respect of any Flexible Mortgage Loan, a period of
one or more Monthly Payment Dates when the relevant Borrower under such
Mortgage Loan is permitted by the Seller in accordance with the relevant
Mortgage Conditions not to make its regular Monthly Payment;

"Perfection" means the perfection of the assignment of the Mortgage Portfolio
pursuant to and in accordance with Clause 6 (Perfection of the Assignment) of
the Mortgage Sale Agreement;

"Perfection Date" means the date of any Perfection;

"Perfection Event" means any of the events specified in Clause 6.1 (Perfection
Events) of the Mortgage Sale Agreement;

"Permitted Product Switch" means any variation in the financial terms and
conditions of a Mortgage Loan in which a Borrower exchanges its then-current
Mortgage Loan product for a different mortgage loan product offered by the
Seller or (in limited circumstances) the Administrator from time to time,
provided that such new mortgage loan for which the prior Mortgage Loan is to
be exchanged is a Permitted Replacement Mortgage Loan, and further provided
that no such product switch shall be permitted unless at the date of such
product switch each of the conditions set out in Clause 4.2

                                      39
<PAGE>

(Conditions to Effecting an Assignment of New Mortgage Loans) of the Mortgage
Sale Agreement is satisfied (save to the extent that conditions (a), (c), (k),
(n) and (o) of such Clause must only be satisfied on the most recent
Assignment Date for the assignment of New Mortgage Loans to the Mortgages
Trust);

"Permitted Replacement Mortgage Loan" means a mortgage loan (i) that is
subject to a variable rate of interest, (ii) that has a Maturity Date prior to
January 2039, and (iii) upon which the related Borrower has made at least one
Monthly Payment;

"Person" means a reference to any person, individual, corporation, limited
liability company, partnership, joint venture, association, joint-stock
company, trust, unincorporated organisation, governmental entity or other
entity of similar nature (whether or not having separate legal personality);

"Post-Enforcement Call Option Agreement" means the post-enforcement call
option agreement entered into on or about a Closing Date between the relevant
Issuer, the relevant Post-Enforcement Call Option Holder, the Note Trustee and
the Note Depository;

"Post-Enforcement Call Option Holder" means, in respect to the First Issuer,
GPCH Limited, a company incorporated with limited liability under the laws of
England and Wales, registered number 4128437, or such other person or persons
for the time being acting as post-enforcement call option holder under the
relevant Post-Enforcement Call Option Agreement, and, in relation to any New
Issuer, has the meaning specified under the relevant Issuer Master Definitions
Schedule;

"Potential Intercompany Loan Event of Default" means the occurrence of any
event which with the giving of notice, any relevant certificate, the lapse of
time or fulfilment of any other condition (or any combination of the
foregoing) would become an Intercompany Loan Event of Default;

"Potential Note Event of Default" means any condition, event or act which with
the lapse of time and/or the giving of any notice and/or determination of
materiality and/or fulfilment of any similar condition would constitute a Note
Event of Default;

"Previous Intercompany Loan" means a loan made by any Previous Issuer to
Funding on the Closing Date relating to such Previous Issuer under the
relevant Previous Intercompany Loan Agreement;

"Previous Intercompany Loan Agreement" means an intercompany loan agreement
entered into on the relevant Closing Date between, among others, Funding and a
Previous Issuer;

"Previous Issuer" means a wholly-owned subsidiary of Funding, which was
established to issue Previous Issuer Notes and to make a Previous Issuer
Intercompany Loan to Funding;

"Previous Issuer Notes" means the notes issued by any Previous Issuer;

"Previous Start-up Loan" means the start-up loan that any Previous Start-up
Loan Provider made available to Funding on the Closing Date relating to such
Previous Issuer pursuant to the relevant Previous Start-up Loan Agreement;

"Previous Start-up Loan Agreement" means a start-up loan agreement entered
into on the relevant Closing Date as amended from time to time between
Funding, the Previous Start-up Loan Provider and the Security Trustee;

"Previous Start-up Loan Provider" means Northern Rock in its capacity as
start-up loan provider

                                      40
<PAGE>

under the relevant Previous Start-up Loan Agreement;

"Principal Deficiency Ledger" means, in relation to any Issuer, the ledger of
such name maintained by the Issuer Cash Manager pursuant to the Issuer Cash
Management Agreement, comprising such sub-ledgers as relate to the classes of
Notes of differing ratings issued by such Issuer as contemplated in the
relevant Issuer Cash Management Agreement;

"Principal Distribution" means, in relation to the Mortgages Trust, any
distribution by the Mortgages Trustee to any Beneficiary pursuant to Clause 11
(Distribution of Principal Receipts) or Clause 6.3 (Special Distribution) of
the Mortgages Trust Deed;

"Principal Directions" means, with respect to the Security Trustee, the
directions of the Note Trustee(s) for the Holders of the highest ranking class
of Notes outstanding (meaning the Class A Notes for so long as there are Class
A Notes outstanding and thereafter, the Class B Notes so long as there are no
Class A Notes outstanding and thereafter, the Class C Notes so long as there
are neither Class A Notes nor Class B Notes outstanding and thereafter, the
Class D Notes for so long as there are no Class A Notes, Class B Notes nor
Class C Notes outstanding;

"Principal Ledger" means the ledger maintained by the Cash Manager in the name
of the Mortgages Trustee pursuant to the Cash Management Agreement to record
any Mortgages Trustee Retained Principal Receipts plus the Principal Receipts
on the Mortgage Loans and distributions of such Principal Receipts to the
Seller and Funding on each Distribution Date;

"Principal Receipts" means, in relation to the Mortgages Trustee, any payment
in respect of principal received in respect of any Mortgage Loan, whether as
all or part of a Monthly Payment in respect of such Mortgage Loan, on
redemption (including partial redemption) of such Mortgage Loan, on
enforcement or on the disposal of such Mortgage Loan or otherwise (including
payments pursuant to any Insurance Policy)(and which may include the amount of
any Overpayment in respect of any Non-Flexible Mortgage Loan, but only to the
extent permitted by Clause 13.1 (Non-Flexible Mortgage Loans) of the Mortgages
Trust Deed, and which also may include the amount of any Further Contribution
made by Funding from time to time) and in relation to any distributions of
Principal Receipts which have been or are to be made on a Distribution Date,
Principal Receipts shall mean Mortgages Trustee Principal Receipts;

"Proceedings" means any suit, action or proceedings arising out of or in
connection with any of the Transaction Documents;

"Product Switch" means a variation to the financial terms and conditions of
any Mortgage Loan but excluding:

(a)     any variation in the financial terms and conditions of a Mortgage Loan
        involving a Permitted Product Switch;

(b)     variation agreed with a Borrower to control or manage arrears on a
        Mortgage Loan;

(c)     variation in the maturity date of a Mortgage Loan unless, while the
        First Issuer Intercompany Loan is outstanding, it is extended beyond
        January 2039;

(d)     variation imposed by statute;

(e)     variation of the rate of interest payable in respect of Mortgage Loan
        where that rate is offered to the Borrowers of more than 10 per cent.
        by Current Balance of Mortgage Loans comprised

                                      41
<PAGE>

        in the Trust Property in any Interest Period;

(f)     a change between interest-only and repayment mortgage loans;

(g)     a transfer of equity; and/or

(h)     a release of a party to a mortgage loan or a release of part of the
        land subject to the mortgage;

"Properties in Possession Policy" means the properties in possession insurance
policy identified in paragraph 2(e) of Schedule 4 (Insurance Contracts) to the
Mortgage Sale Agreement and any endorsements or extensions thereto as issued
from time to time and any additional, replacement or substitute properties in
possession insurance policy which relates to Mortgage Loans in the Mortgages
Trust from time to time;

"PS/FA Event" means the occurrence of either (i) confirmation from Northern
Rock that it will purchase the relevant Mortgage Loans which are subject to
any Further Advances or Product Switches (other than Re-Fixed Mortgage Loans)
in accordance with Clause 8.5 (Repurchase of Product Switches and Further
Advances) under the Mortgage Sale Agreement or (ii) any Mortgage Loan becoming
a Re-Fixed Mortgage Loan;

"Purchase Price" means:

(a)     in respect of the Initial Mortgage Portfolio, the amount payable
        therefor by the Mortgages Trustee pursuant to Clause 3.2 (Purchase
        Price) of the Mortgage Sale Agreement; and

(b)     in respect of each New Mortgage Portfolio, the amount payable therefor
        by the Mortgages Trustee pursuant to Clause 4.5 (Purchase Price) of
        the Mortgage Sale Agreement;

"Rating Agencies" means S&P, Moody's and Fitch, and "Rating Agency" means any
of them;

"Receiver" means, in relation to the Funding Deed of Charge, any person or
persons appointed (and any additional person or persons appointed or
substituted) as an administrative receiver, receiver, manager, or receiver and
manager of the Funding Charged Property by the Security Trustee pursuant the
Funding Deed of Charge and in relation to any Issuer Deed of Charge, any
person or persons appointed (and any additional person or persons appointed or
substituted) pursuant thereto by the Note Trustee as an administrative
receiver, receiver, manager, or receiver and manager of the property charged
or secured under such Issuer Deed of Charge;

"Re-Draw" means either a Cash Re-Draw or a Non-Cash Re-Draw;

"Re-Draws Ledger" means the ledger maintained by the Cash Manager in the name
of the Mortgages Trustee pursuant to the Cash Management Agreement to record
Re-Draws on Flexible Mortgage Loans in the Mortgages Trust from time to time
which ledger shall be sub-divided into two sub ledgers: (i) the Non-Cash
Re-Draws Sub Ledger corresponding to Non-Cash Re-Draws and (ii) the Cash
Re-Draws Sub Ledger corresponding to Cash Re-Draws;

"Re-Fixed Mortgage Loan" means, as at any given date, a Mortgage Loan which on
or before such date had been a Fixed Rate Mortgage Loan in respect of which
the fixed period by reference to which the relevant fixed interest was charged
had come to an end, but as at or before that such date, the interest charged
under such Mortgage Loan was again fixed for a further fixed period by the
Seller or the Administrator as the case may be (following an election by the
Borrower) in accordance with the original terms of the Fixed Rate Mortgage
Loan;

"Registered Land" means land, title to which is registered at H.M. Land
Registry;

                                      42
<PAGE>

"Registered Transfer" means, in relation to Registered Land, a deed of
transfer of a Mortgage or Mortgages over registered land in the form referred
to in paragraph (a) of Clause 6.3 (Transfer Documents) of the Mortgage Sale
Agreement with such modifications as may be permitted from time to time in
accordance with such Clause;

"Reg S" means Regulation S under the United States Securities Act of 1933, as
amended;

"Reg S Global Note Certificates" or "Regulation S Global Note Certificates"
means the Global Note Certificates in registered form representing the Reg S
Notes;

"Reg S Individual Note Certificates" or "Regulation S Individual Note
Certificates" means the Individual Note Certificates in registered form
representing the Reg S Notes;

"Reg S Notes" means generally all Notes which are issued pursuant to Reg S and
in relation to an Issuer means the Notes issued or to be issued by that Issuer
pursuant to Reg S;

"Regulations" means as the context may require either (i) the Unfair Terms in
Consumer Contracts Regulations 1999 and/or, as applicable, the Unfair Terms in
Consumer Contracts Regulations 1994 or (ii) the Regulations set out in
Schedule 2 to the First Issuer Paying Agent and Agent Bank Agreement;

"Related Security" means, in relation to a Mortgage Loan, the security for the
repayment of such Mortgage Loan including the relevant Mortgage and all other
documents, matters and things related thereto acquired and referred to as part
of the Initial Mortgage Portfolio or, as the case may be, the New Mortgage
Portfolio, sold to the Mortgages Trustee pursuant to the Mortgage Sale
Agreement and which constitute all or part of the security for the payment of
all sums due in respect of such Mortgage Loan, including for the avoidance of
doubt, guarantees, MIG Policies and assignments and charges over Life
Policies;

"Relevant Distribution" has the meaning given to it in Clause 4.2
(Consideration) of the Mortgages Trust Deed;

"Repayment Mortgage Loan" means a Mortgage Loan in respect of which the
Borrower is under an obligation to the mortgagee to make monthly payments of
principal so that the whole principal (in addition to interest) is repaid by
the stated maturity date for that Mortgage Loan;

"Representations and Warranties" means the representations and warranties set
out in Schedule 1 (Representations and Warranties) to the Mortgage Sale
Agreement;

"Revenue Ledger" means the ledger maintained by the Cash Manager in the name
of the Mortgages Trustee pursuant to the Cash Management Agreement to record
Revenue Receipts received by the Mortgages Trustee and the payment of the same
on each Distribution Date in accordance with the terms of the Mortgages Trust
Deed;

"Revenue Receipts" means, in relation to the Mortgages Trustee, any payment
received in respect of any Mortgage Loan, whether as all or part of a Monthly
Payment in respect of such Mortgage Loan, on redemption (including partial
redemption) of such Mortgage Loan, on enforcement of such Mortgage Loan
(including the proceeds of sale thereof), on the disposal of such Mortgage
Loan or otherwise (including payments pursuant to any Insurance Policy) which
in any such case is not a Principal Receipt in respect of such Mortgage Loan;

"Right to Buy Mortgage Loan" means a Mortgage Loan in respect of which the
"right to buy" provisions of the Housing Act 1985 apply (other than any
Mortgage Loan in respect of which the period during which the statutory charge
referred to in section 156 of that Act would have existed, had

                                      43
<PAGE>

the relevant circumstances applied, has expired);

"S&P" and "Standard & Poor's" means Standard & Poor's Rating Services, a
division of The McGraw-Hill Companies, Inc., and includes any successor to its
rating business;

"SEC" means the United States Securities and Exchange Commission;

"Second Issuer" means Granite Mortgages 01-2 plc;

"Second Issuer Liquidity Required Amount" means an amount as of any Payment
Date equal to the excess, if any, of 3% of the aggregate outstanding balance
of the Notes on that Payment Date over amounts standing to the credit of the
Issuer Reserve Fund on that Payment Date;

"Securities Act" means the United States Securities Act of 1933, as amended;

"Security Documents" means the any Issuer Deed of Charge and the Funding Deed
of Charge and each Deed of Accession entered into pursuant to the Funding Deed
of Charge and any other security document entered into pursuant to any of the
foregoing;

"Security Interest" or "Encumbrance" means any mortgage or sub mortgage,
standard security, charge or sub charge (whether legal or equitable),
encumbrance, pledge, lien, hypothecation, assignment by way of security or
other security interest or title retention arrangement and any agreement,
trust or arrangement having substantially the same economic or financial
effect as any of the foregoing (other than a lien arising in the ordinary
course of business or by operation of law);

"Security Power of Attorney for Funding" means the power of attorney granted
by Funding in favour of the Security Trustee on the Initial Closing Date
pursuant to the Funding Deed of Charge;

"Security Trustee" means, The Bank of New York, whose principal office is at
48th Floor, One Canada Square, London E14 5AL, or such other persons and all
other persons for the time being acting as the security trustee or security
trustees pursuant to the Funding Deed of Charge;

"Seller" means Northern Rock plc;

"Seller Share Event" means the event which will occur if, on a Distribution
Date, (i) the result of the calculation of the Current Seller Share for such
Distribution Date would be equal to or less than the Minimum Seller Share for
such Distribution Date (determined using the amounts of the Current Seller
Share and Minimum Seller Share that would exist after making the distributions
of Mortgages Trustee Principal Receipts due in that Distribution Date on the
basis that the Cash Manager assumes that those Mortgages Trustee Principal
Receipts are distributed in the manner described under the Mortgages Trustee
Principal Priority of Payments set forth in Clause 11.1 of the Mortgages Trust
Deed, and (ii) a Seller Share Event has not occurred on the immediately
preceding Distribution Date;

"Seller Share Distribution Date" means a Distribution date on which a Seller
Share Event occurs;

"Seller Share" means, prior to the first Distribution Date, the Initial Seller
Share and thereafter, shall mean the Current Seller Share;

"Seller Share Ledger" means a ledger which shall record the Seller Share of
the Trust Property and the Seller Share Percentage;

"Seller Share Percentage" means, prior to the first Distribution Date, the
Initial Seller Share Percentage and thereafter shall mean the Current Seller
Share Percentage;

"Seller's Policy" means the originating, lending and underwriting,
administration, arrears and

                                      44
<PAGE>

enforcement policies and procedures which are applied from time to time by the
Seller to mortgage loans and the security for their repayment which are
beneficially owned solely by the Seller and which may be amended by the Seller
from time to time;

"Seller's Power of Attorney" means the power of attorney granted by the Seller
in favour of Funding, the Mortgages Trustee and the Security Trustee on the
Initial Closing Date, substantially in the form set out in Schedule 10 (Power
of Attorney in favour of the Mortgages Trustee, Funding and the Security
Trustee) to the Mortgage Sale Agreement;

"Series" in relation to any Notes issued by any Issuer has the meaning given
to it in the relevant Issuer Master Definitions Schedule;

"Services" has the meaning set out in Clause 3.1 (General) of the
Administration Agreement;

"Share Trust Deed" means the share trust deed dated 23 January 2001 between
the Share Trustee and Holdings as has been and may be amended, restated,
novated, varied or supplemented from time to time;

"Share Trustee" means The Law Debenture Intermediary Corporation P.L.C. as
share trustee under the Share Trust Deed;

"Shared Issuer Principal Receipts" has the meaning given in the rules for
application of Funding Available Principal Receipts under the Funding
Pre-Enforcement Principal Priority of Payments set out in Part II of Schedule
3 to the Funding Deed of Charge;

"Shared Issuer Revenue Receipts" has the meaning given in the rules for
application of Funding Available Revenue Receipts under the Funding
Pre-Enforcement Revenue Priority of Payments set out in Part I of Schedule 3
to the Funding Deed of Charge;

"Shortfall" or "Interest Rate Shortfall" means, as of any Payment Date and in
respect of Funding, a deficiency of Funding Available Revenue Receipts over
the amounts due by Funding under the Funding Pre-Enforcement Revenue Priority
of Payments on such Payment Date, and, as of any Payment Date and in respect
of any Issuer, the deficiency of Issuer Allocable Revenue Receipts over the
amounts due by such Issuer under the relevant Issuer Pre-Enforcement Revenue
Priority of Payments, as the context requires;

"Special Distribution" has the meaning given to it in Clause 6.3 (Special
Distribution) of the Mortgages Trust Deed;

"Special Repayment Notes" means, in relation to the Second Issuer, the
(GBP)10,000,000 Series 2 Class D Floating Rate Notes issued by the Second
Issuer and, in relation to any other Issuer, means any Series and/or class of
Notes issued by such Issuer that are either:

(a)     interest only Notes; or

(b)     Notes, the Outstanding Principal Balance of which is to be repaid
        solely from the Issuer Available Revenue Receipts,

and that are designated as Special Repayment Notes in the Issuer Master
Definitions Schedule relating to such Issuer;

"Specified Date" means the date on which the United Kingdom participates in
the third stage of European economic and monetary union pursuant to the Treaty
establishing the European Community or otherwise participates in European
economic and monetary union in a manner with an effect

                                      45
<PAGE>

similar to such third stage;

"Standard Documentation" or "Standard Mortgage Documentation" means:

(a)     in relation to the First Issuer the standard documentation referred to
        in Schedule 12 (Standard Documentation) to the Mortgage Sale Agreement
        as at 26 March 2001,

(b)     in relation to the Second Issuer, the standard documentation referred
        to in Schedule 12 (Standard Documentation) to the Mortgage Sale
        Agreement as at 28 September 2001, and

(c)     in relation to any other Issuer, the standard documentation referred
        to in Schedule 1 (Standard Documentation) to the relevant Issuer
        Master Definitions Schedule

or, in each case, any update or replacement therefor as the Seller may from
time to time introduce acting in accordance with the standards of a
reasonable, prudent mortgage lender;

"Standard Variable Rate" or "SVR" means, as applicable, the Northern Rock
standard variable mortgage base rate and/or the standard variable mortgage
base rate applicable to Mortgage Loans within the Mortgages Trust in
accordance with the Mortgage Conditions;

"Start-up Loan" means the start-up loan that the Start-up Loan Provider shall
make available to Funding pursuant to the Start-up Loan Agreement;

"Start-up Loan Agreement" means the agreement entered into on or about the
Initial Closing Date between Funding, the Start-up Loan Provider and the
Security Trustee relating to the provision of the Start-up Loan to Funding as
may be amended, restated, novated, varied or supplemented from time to time
and shall include any additional and/or replacement start-up loan agreement
entered into by such parties in accordance with the Transaction Documents;

"Start-up Loan Provider" means Northern Rock, in its capacity as provider of
the Start-up Loan and/or such other person or persons for the time being the
lender under the Start-up Loan Agreement;

"Step-up Date" means the Payment Date in respect of an Issuer on which the
interest rate on the Notes issued by such Issuer increases by a pre-determined
amount following the payment made by such Issuer on such Payment Date, which
date in respect of the First Issuer is the Payment Date occurring in January
2008, and, in relation to any New Issuer, has the meaning specified under the
relevant Issuer Master Definitions Schedule;

"Subsidiary" means (a) a subsidiary as defined in Section 736 of the Companies
Act 1985 and (b) unless the context requires otherwise, a subsidiary
undertaking within the meaning of Section 258 of the Companies Act 1985;

"Subordinated Principal Test" means:

(a)     in respect of the First Issuer Notes, the test which is satisfied (1)
        on any Payment Date occurring on or after the fourth anniversary of
        the Initial Closing Date; and (2) on any Payment Date on which (a) the
        percentage equal to the aggregate Principal Amount Outstanding of the
        Class B Notes and the Class C Notes as at that Payment Date over the
        aggregate Principal Amount Outstanding of the First Issuer Notes as at
        that Payment Date is greater than (b) the product of (i) 2 and (ii)
        the percentage equal to the aggregate Principal Amount Outstanding of
        the Class B Notes and the Class C Notes as at the Initial Closing Date
        over the aggregate Principal Amount Outstanding of the First Issuer
        Notes as at the Initial Closing Date; or

                                      46
<PAGE>

(b)     in respect of any New Notes issued by any New Issuer, has the meaning
        given to it under the relevant Issuer Transaction Documents and as
        defined in the Issuer Master Definitions Schedule relating to that New
        Issuer;

"Swap Agreements" means, for any Issuer, any of the Basis Rate Swap
Agreements, any of the Currency Swap Agreements, any Interest Rate Swap
Agreement or any other ISDA Master Agreement, Schedule and Confirmation
thereto entered into among such Issuer, the relevant Swap Provider and the
Note Trustee, as may be amended, restated, novated, varied or supplemented
from time to time, and shall include any additional and/or replacement swap
agreement entered into by such Issuer from time to time in connection with the
Notes issued by such Issuer

"Swap Provider" means any of the Currency Swap Provider and/or the Basis Rate
Swap Provider and/or the Interest Rate Swap Provider, as the context requires,
or any other swap provider appointed from time to time in accordance with the
Transaction Documents or relevant Issuer Transaction Documents;

"TARGET Business Day" means a day on which the Trans-European Automated
Real-time Gross settlement Express (TARGET) system is open;

"Taxes" means all present and future taxes, levies, imposts, duties (other
than stamp duty), fees, deductions, withholdings or charges of any nature
whatsoever and wheresoever imposed, including, without limitation, value added
tax or other tax in respect of added value and any franchise, transfer, sales,
gross receipts, use, business, occupation, excise, personal property, real
property or other tax imposed by any national, local or supranational taxing
or fiscal authority or agency together with any penalties, fines or interest
thereon and "Tax" and "Taxation" shall be construed accordingly;

"Terms and Conditions" has the same meaning as "Conditions";

"Third Party Amounts" means:

(a)     payments of insurance premiums, if any, due to the Seller in respect
        of any Insurance Policy arranged by the Seller and/or the MIG provider
        to the extent not paid or payable by the Seller (or to the extent such
        insurance premiums have been paid by the Seller in respect of any
        Further Advance which is not repurchased by the Seller to reimburse
        the Seller);

(b)     amounts under an unpaid Direct Debit which are repaid by the
        Administrator to the bank making such payment if such bank is unable
        to recoup that amount itself from the relevant customer's account;

(c)     other charges the benefit of which have been re-assigned to the Seller
        (excluding Early Repayment Charges); and/or

(d)     recoveries in respect of amounts deducted from Mortgage Loans as
        described in paragraphs (a) through (e) of Clause 8.5 (Adjustments to
        Trust Property) (inclusive) of the Mortgages Trust Deed;

"Title Deeds" means, in relation to each Mortgage Loan and its Related
Security and the Mortgaged Property relating thereto, all conveyancing deeds
and documents which make up the title to the Mortgaged Property and the
security for the Mortgage Loan and all searches and enquiries undertaken in
connection with the grant by the Borrower of the related Mortgage including,
in the case of Registered Land, the relevant Charge Certificate;

                                      47
<PAGE>

"Together Connections Benefit" means the amount by which:

(a)     the interest that would be payable on the Combined Debit Balance at
        the Connection Interest Rate exceeds:

(b)     the interest at the Connection Interest Rate that would be payable on
        the amount by which the Combined Debit Balance exceeds the Combined
        Credit Balance;

"Together Connection Conditions" means the Mortgage Conditions of the Seller
identified as Together Connection Conditions;

"Together Connections Mortgage Loans" means a type of Flexible Mortgage Loan
which has the same basic features as a Together Mortgage Loan, but also allows
the Borrower to link the Mortgage Loan with certain accounts that are held
with the Seller, the balance amounts of which, pursuant to the Together
Connection Conditions, are required to be included in the calculation of the
Combined Credit Balance;

"Together Mortgage Loan" means a type of Flexible Mortgage Loan which allows a
Borrower to obtain an additional unsecured drawdown loan and, in some cases, a
credit card;

"Total Property" means at any time the aggregate amount standing to the credit
of the Collection Accounts and held by Northern Rock on trust for the
Mortgages Trustee and itself, subject to and in accordance with the Collection
Bank Agreement;

"Transaction Document" means any of the following documents:

(a) the Subscription Agreement;

(b) the Underwriting Agreement;

(c) the First Issuer Intercompany Loan Agreement;

(d) the Mortgages Trust Deed;

(e) the Mortgage Sale Agreement;

(f) the First Issuer Deed of Charge;

(g) the Funding Deed of Charge;

(h) the Basis Rate Swap Agreement;

(i) each Currency Swap Agreement;

(j) the Depository Agreement;

(k) the First Issuer Trust Deed;

(l) the First Issuer Paying Agent and Agent Bank Agreement;

(m) the Administration Agreement;

(n) the Cash Management Agreement;

(o) the First Issuer Cash Management Agreement;

(p) the Funding Guaranteed Investment Contract;

(q) the Funding (First Issuer) Guaranteed Investment Contract;

                                      48
<PAGE>

(r) the Mortgages Trustee Guaranteed Investment Contract;

(s) the Post-Enforcement Call Option Agreement;

(t) the Bank Account Agreement;

(u) the Funding (First Issuer) Bank Account Agreement;

(v) the First Issuer Bank Account Agreement;

(w) the Collection Bank Agreement;

(x) the Start-Up Loan Agreement;

(y) the Loyalty Discount Deed;

(z) the First Issuer Corporate Services Agreement;

(aa) the Share Trust Deed; and

(bb) each Corporate Services Agreement.

"Transaction" means the transaction contemplated by the Transaction Documents;

"Trigger Event" means any of an Asset Trigger Event or a Non-Asset Trigger
Event, as the case may be;

"Trust Calculation Period" means the period from (and including) the first
date of each calendar month (or in the case of the first such Trust
Calculation Period, the Initial Closing Date) to (and including) the last day
of the same calendar month;

"Trust Corporation" means a corporation entitled by rules made under the
Public Trustee Act 1906, or entitled pursuant to any comparable legislation
applicable to a trustee in any jurisdiction, to carry out the function of a
custodian trustee;

"Trust Determination Date" means the first day (or, if not a London Business
Day, the next succeeding London Business Day) of each calendar month;

"Trust Indenture Act" means the United States Trust Indenture Act of 1939, as
amended;

"Trust Property" means:

(a)     the Initial Trust Property;

(b)     the Closing Trust Property (excluding any Mortgage Loans that have
        been repurchased by the Seller pursuant to the Mortgage Sale Agreement
        and any Early Repayment Charge Receipts that have been paid to the
        Seller pursuant to the Mortgage Sale Agreement);

(c)     any New Trust Property (excluding any Mortgage Loans that have been
        repurchased by the Seller pursuant to the Mortgage Sale Agreement and
        any Early Repayment Charge Receipts that have been paid to the Seller
        pursuant to the Mortgage Sale Agreement);

(d)     any Contribution made from time to time to the Mortgages Trustee by
        any Beneficiary until it has been applied by the Mortgages Trustee in
        accordance with the Mortgages Trust Deed;

(e)     any Re-Draw made under a Flexible Mortgage Loan which forms part of
        the Trust Property;

(f)     any Further Advances made by the Seller to existing Borrowers which
        are assigned to the Trust in accordance with the Mortgage Sale
        Agreement;

                                      49
<PAGE>

(g)     amounts on deposit (and interest earned on such amounts) from time to
        time in the Mortgages Trustee Bank Accounts;

(h)     any Permitted Replacement Mortgage Loan and its Related Security
        (excluding any Early Repayment Charge Receipts that have been paid to
        the Seller pursuant to the Mortgage Sale Agreement) relating to a
        Permitted Product Switch;

(i)     the proceeds of sale of any Mortgage Loan and its Related Security
        forming part of the Trust Property;

(j)     all other property which shall form part of the Trust Property
        pursuant to Clause 2 (Creation of Mortgages Trust) of the Mortgages
        Trust Deed;

        less

(1)     any actual Losses in relation to the Mortgage Loans and any actual
        reductions occurring in respect of the Mortgage Loans as described in
        Clause 8.5 (Adjustments to Trust Property) of the Mortgages Trust
        Deed; and

(2)     distributions of principal made from time to time to the Beneficiaries
        of the Mortgages Trust.

"Trust Property Calculation Adjustments" has the meaning set out in the
Mortgages Trust Deed;

"Trustee Acts" means the Trustee Act 1925 and the Trustee Act 2000;

"UK Account Bank" means Lloyds TSB Bank plc, London Branch;

"UK Listing Authority" means at any time the Financial Services Authority in
its capacity as competent authority for the purposes of Part VI of the
Financial Services and Markets Act 2000 or such other Person which at that
time performs an analogous role in relation to the regulation of financial
markets and the issue of public debt securities in the United Kingdom;

"Unauthorised Underpayment" means a Borrower Underpayment in respect of a
Mortgage Loan which is not funded by, or exceeds the amount of any,
Overpayments previously made by the Borrower in respect of such Mortgage Loan
or is otherwise not permitted by the Seller in accordance with the relevant
Mortgage Conditions;

"Underpayment" means any Authorised Underpayment or Unauthorised Underpayment;

"United Kingdom" means the United Kingdom of Great Britain and Northern Ireland;

"United States" means the United States of America;

"Unpaid Interest" means, in relation to any Non-Cash Re-Draw of any Flexible
Mortgage Loan, the interest which would, but for such Non-Cash Re-Draw, have
been payable in respect of that Mortgage Loan on the relevant Monthly Payment
Date for such Mortgage Loan;

"Unpaid Interest Amount" means the amount of the Unpaid Interest in relation
to any Non-Cash Re-Draw on any Flexible Mortgage Loan;

"Unregistered Land" means land title to which is not registered at H.M. Land
Registry;

"Unregistered Transfer" means, in relation to Unregistered Land, a deed of
transfer of a Mortgage or Mortgages in the form referred to in paragraph (b)
of Clause 6.3 of the Mortgage Sale Agreement with such modifications as may be
permitted from time to time in accordance with such Clause;

                                      50
<PAGE>

"US Global Note Certificates" or "US Global Note Certificate" means the Global
Note Certificates in registered form representing the US Notes;

"US Individual Note Certificates" or "US Individual Note Certificate" means
the Individual Note Certificates in registered form representing the US Notes;

"US Notes" means generally the Notes which are not Reg S Notes and in relation
to an Issuer the Notes issued by that Issuer which are not Reg S Notes;

"Valuer" means an Associate or Fellow of the Royal Institution of Chartered
Surveyors or the Incorporated Society of Valuers and Auctioneers who was at
the relevant times either a member of a firm which was on the list of Valuers
approved by or on behalf of the Seller from time to time or an Associate or
Fellow of the Royal Institute of Chartered Surveyors or the Incorporated
Society of Valuers and Auctioneers employed in-house by the Seller acting for
the Seller in respect of the valuation of a Mortgaged Property;

"WAFF" means the weighted average repossession frequency in respect of the
Mortgage Portfolio; and

"WALS" means the weighted average loss severity in respect of the Mortgage
Portfolio.

2.      Interpretation and Construction

Any reference in this Master Definitions Schedule or any Transaction Document
to:

"agreed form" means, in relation to any document, the draft of that document
the form of which has been agreed between the parties thereto (or if such
document is delivered pursuant to another Transaction Document, between the
parties to such Transaction Document) and initialled on their behalf for the
purpose of identification;

the "assets" of any person shall be construed as a reference to the whole or
any part of its business, undertakings, property, intellectual property,
shares, securities, debts, accounts, revenues (including any right to receive
revenues), goodwill, shareholdings and uncalled capital including premium
whether now or hereafter acquired and any other assets whatsoever;

"disposal" shall be construed as any sale, lease, transfer, conveyance,
assignment, assignation, licence, sub-licence or other disposal and "dispose"
shall be construed accordingly;

a "guarantee" means any guarantee, bond, indemnity, letter of credit, third
party security or other legally binding assurance against financial loss
granted by one person in respect of any indebtedness of another person, or any
agreement to assume any indebtedness of any other person or to supply funds or
to invest in any manner whatsoever in such other person by reason of, or
otherwise in relation to, indebtedness of such other person;

"indebtedness" shall be construed so as to include any obligation (whether
incurred as principal or as surety) for the payment or repayment of money,
whether present or future, actual or contingent;

a "month" is a reference to a period starting on one day in a calendar month
and ending on the numerically corresponding day in the next calendar month
save that, where any such period would otherwise end on a day which is not a
business day, it shall end on the next business day, unless that day falls in
the calendar month succeeding that in which it would otherwise have ended, in
which case it shall end on the preceding business day, provided that, if a
period starts on the last business day in a calendar month or if there is no
numerically corresponding day in the month in which that period

                                      51
<PAGE>

ends, that period shall end on the last business day in that later month (and
references to "months" shall be construed accordingly);

"party" shall be construed as a party to a particular agreement, as the case
may be;

"subsidiary" means, (a) a subsidiary within the meaning of Section 736 of the
Companies Act 1985, and (b) unless the context requires otherwise, a
subsidiary undertaking within the meaning of Section 258 of the Companies Act
1985;

"VAT" means value added tax imposed by the United Kingdom as referred to in
the Value Added Tax Act 1994 and legislation (whether delegated or otherwise)
replacing the same or supplemental thereto or in any primary or subordinate
legislation promulgated by the European Union or any official body or agency
thereof, and any similar turnover tax replacing or introduced in addition to
any of the same;

a "wholly-owned subsidiary" of a company or corporation shall be construed as
a reference to any company or corporation which has no other members except
that other company or corporation and that other company's or corporation's
wholly-owned subsidiaries or persons acting on behalf of that other company or
corporation or its wholly-owned subsidiaries; and

the "winding-up" or "administration" of a company or corporation shall be
construed so as to include any equivalent or analogous proceedings under the
law of the jurisdiction in which such company or corporation is incorporated
or any jurisdiction in which such company or corporation carries on business
including the seeking of liquidation, winding-up, bankruptcy, reorganisation,
dissolution, administration, arrangement, adjustment, protection or relief of
debtors.

2.1     "(GBP)", "sterling" or "pounds sterling" denotes the lawful currency
        for the time being of the United Kingdom of Great Britain and Northern
        Ireland; "(Euro)", "euro" or "Euro" denotes the lawful currency for
        the time being of the member states of the European Union that adopt
        the single currency introduced at the start of the third stage of
        European Economic Monetary Union pursuant to the Treaty of Rome of
        25th March, 1957, establishing the European Community as amended from
        time to time and as amended by, inter alia, the Treaty of European
        Union of 7th February, 1992; "$", "US$", "US dollars" or "dollars"
        denotes the lawful currency for the time being of the United States of
        America.

2.2     In this Master Definitions Schedule and in any of the Transaction
        Documents in which this Master Definitions Schedule is expressed to be
        incorporated or to which this Master Definitions Schedule is expressed
        to apply:

        (a)     words denoting the singular number only shall include the
                plural number also and vice versa;

        (b)     words denoting one gender only shall include the other
                genders;

        (c)     words denoting persons only shall include firms and
                corporations and vice versa;

        (d)     references to any statutory provision shall be deemed also to
                refer to any statutory modification or re-enactment thereof or
                any statutory instrument, order or regulation made thereunder
                or under any such re-enactment;

        (e)     references to any agreement or other document (including any
                of the Transaction Documents) shall be deemed also to refer to
                such agreement or document as amended, varied, supplemented or
                novated from time to time;

        (f)     clause, paragraph and schedule headings are for ease of
                reference only;

                                      52
<PAGE>

        (g)     reference to a statute shall be construed as a reference to
                such statute as the same may have been, or may from time to
                time be, amended or re-enacted to the extent such amendment or
                re-enactment is substantially to the same effect as such
                statute on the date hereof;

        (h)     unless stated otherwise reference to a time of day shall be
                construed as a reference to London (GMT) time; and

        (i)     references to any person shall include references to his
                successors, transferees and assigns and any person deriving
                title under or through him.

2.3     Any requirement in any Transaction Document for any action to be taken
        according to the standards of a "reasonable, prudent mortgage lender"
        shall be satisfied by the relevant party taking the relevant action in
        accordance with the Seller's Policy from time to time.

2.4     Save as provided otherwise, where any obligation in a Transaction
        Document is owed to more than one party that obligation is owed to
        each of them separately and may be enforced by any of them.

2.5     (a)     Where a term is defined in an Issuer Master Definitions
                Schedule and is used but not defined in this Master
                Definitions Schedule then, in connection with the relevant
                Issuer, that term shall have the meaning indicated in that
                Issuer Master Definitions Schedule; and

        (b)     Where a term is used but not defined in a document to which
                this Master Definitions Schedule applies and that term is not
                defined in this Master Definitions Schedule but is defined in
                an Issuer Master Definitions Schedule, then in connection with
                the relevant Issuer that term shall have the meaning indicated
                in that Issuer Master Definitions Schedule.

3.      Governing Law

This Master Definitions Schedule is governed by, and shall be construed in
accordance with, the laws of England.

                                      53Execution Version

                                                                Exhibit 10.5.2

                            Dated 24 September 2003

                          GRANITE MORTGAGES 03-3 PLC

------------------------------------------------------------------------------

                      ISSUER MASTER DEFINITIONS SCHEDULE

------------------------------------------------------------------------------

                          SIDLEY AUSTIN BROWN & WOOD
                             1 THREADNEEDLE STREET
                                LONDON EC2R 8AW
                            TELEPHONE 020 7360 3600
                            FACSIMILE 020 7626 7937
                              REF:30507-19/615083

<PAGE>

                                   CONTENTS

1.Definitions..............................................................1

2.Interpretation and Construction.........................................32

3.Governing Law...........................................................34

                                      i

<PAGE>

THIS ISSUER MASTER DEFINITIONS SCHEDULE is signed for the purposes of
identification on 24 September 2003

BY:

(1)  Sidley Austin Brown & Wood of 1 Threadneedle Street, London EC2R 8AW; and

(2)  Allen & Overy of One New Change, London EC4M 9QQ.

1.   Definitions

Words and expressions used in any document which incorporates this clause or
to which this clause applies shall, have the same meanings as are set out in
this Issuer Master Definitions Schedule except so far as the context requires
otherwise.

"Account Bank" means, in relation to the Current Issuer, the Current Issuer
Account Bank and for any other Issuer, the Account Bank for such Issuer
appointed from time to time in accordance with the relevant Issuer Transaction
Documents;

"Additional Interest" means interest which will accrue on Deferred Interest at
the rate of interest applicable from time to time on the classes of Current
Issuer Notes, as further described in Condition 4 of the Current Issuer Notes;

"Additional Assigned Mortgage Loan" means any Mortgage Loan which is assigned
by the Seller to the Mortgages Trustee on the Assignment Date under the terms
of the Mortgage Sale Agreement and referenced by its mortgage loan identifier
number and comprising the aggregate of all principal sums, interest, costs,
charges, expenses and other monies (including all Further Advances) due or
owing with respect to that Mortgage Loan under the relevant Mortgage
Conditions by a Borrower on the security of a Mortgage from time to time
outstanding or, as the context may require, the Borrower's obligations in
respect of the same;

"Additional Assigned Mortgage Portfolio" means the portfolio of Additional
Assigned Mortgage Loans, their Related Security, Accrued Interest and other
amounts derived from such Additional Assigned Mortgage Loans that the Seller
assigned to the Mortgages Trustee on the Assignment Date;

"Additional Assigned Trust Property" means the Additional Assigned Mortgage
Portfolio assigned to the Mortgage Trustee by the Seller on the Assignment
Date, including the Additional Assigned Mortgage Loans and their Related
Security, the rights under the MIG Policies and the other Insurance Policies
arranged by the Seller;

"Agent Bank" means, in relation to the Current Issuer, Citibank, N.A., 5
Carmelite Street, London EC4Y 0PA initially appointed pursuant to the Current
Issuer Paying Agent and Agent Bank Agreement or, if applicable, any successor
Agent Bank at its Specified Office;

"Agents" means, in relation to the Current Issuer, the Principal Paying Agent,
the US Paying Agent, the Registrar and the Transfer Agent, initially appointed
pursuant to the Current Issuer Paying Agent and Agent Bank Agreement, or, if
applicable, any successor agents;

"Appointee" has the meaning specified in the Current Issuer Trust Deed;

"Assignment Date" means 18 August 2003

"Auditors" or "auditors" means PricewaterhouseCoopers of 89 Sandyford Road,
Newcastle upon Tyne NE99 1PL or such other internationally recognised
independent firm of auditors selected from

                                      1
<PAGE>

time to time by (in the case of the Mortgages Trustee) the Mortgages Trustee
or (in the case of Funding) Funding or (in the case of the Current Issuer) the
Current Issuer and appointed by the Mortgages Trustee, Funding or, as the case
may be, the Current Issuer;

"Authorised Denominations" means, in relation to the Current Issuer Notes,
denominations of, in the case of any class of the Dollar Notes $1,000 and
$10,000, in the case of any class of the Sterling Notes, (GBP)1,000 and
(GBP)10,000, in the case of any class of the Euro Notes, (Euro)50,000 and in
such other denominations as the Note Trustee shall determine and notify to the
relevant Noteholders;

"Authorised Dollar Holding" means $1,000 (which shall be the minimum allowable
holding with respect to each Dollar Note) and integral multiples of in excess
thereof;

"Authorised Euro Holding" means (Euro)50,000 (which shall be the minimum
allowable holding with respect to each Euro Note) and integral multiples of in
excess thereof;

"Authorised Signatory" means in relation to:

(a)     the Current Issuer, any authorised signatory referred to in the Issuer
        Account Mandates relating to that Issuer;

(b)     the Mortgages Trustee, any authorised signatory referred to in the
        Mortgages Trustee Account Mandates; and

(c)     Funding, any authorised signatory referred to in the Funding Account
        Mandates;

"Authorised Sterling Holding" means (GBP)1,000 (which shall be the minimum
allowable holding with respect to each Sterling Note) and integral multiples
in excess thereof;

"Average Fixed Rate Mortgage Loan Balance" has the meaning given to it in the
Current Issuer Basis Rate Swap Agreement;

"Average Flexible Mortgage Loan Balance" has the meaning given to it in the
Current Issuer Basis Rate Swap Agreement;

"Average Mortgage Loan Balance" has the meaning given to it in the Current
Issuer Basis Rate Swap Agreement;

"Average Variable Rate Mortgage Loan Balance" has the meaning given to it in
the Current Issuer Basis Rate Swap Agreement;

"Basic Terms Modification" in relation to the Current Issuer Notes has the
meaning set out in Schedule 4 to the Current Issuer Trust Deed;

"Basis Rate Swap" means, in relation to the Current Issuer, the Current Issuer
Basis Rate Swap and for any other Issuer, the swap transaction documented
under the Basis Rate Swap Agreement for such Issuer;

"Basis Rate Swap Agreement" means, in relation to the Current Issuer, the
Current Issuer Basis Rate Swap Agreement and for any other Issuer, the ISDA
Master Agreement, Schedule, Confirmation and any Credit Support Annex or other
credit support documents thereto entered into among such Issuer, the related
Basis Rate Swap Provider, the Note Trustee and/or any credit support provider,
as may be amended, restated, varied or supplemented from time to time and
shall include any additional and/or replacement basis rate swap agreement
entered into by such Issuer from time to time in connection with the Notes
issued by such Issuer;

                                      2
<PAGE>

"Basis Rate Swap Provider" means in relation to the Current Issuer, the
Current Issuer Basis Rate Swap Provider and for any other Issuer the basis
rate swap provider for such Issuer appointed from time to time in accordance
with the relevant Issuer Transaction Documents;

"Basis Rate Swap Provider Default" means, in relation to the Current Issuer,
the occurrence of an Event of Default (as defined in the Current Issuer Basis
Rate Swap Agreement) or a Downgrade Termination Event under the Current Issuer
Basis Rate Swap Agreement where the Current Issuer Basis Rate Swap Provider is
the Defaulting Party or the Affected Party (as defined in the Current Issuer
Basis Rate Swap Agreement);

"Block Voting Instruction" has the meaning set out in Schedule 4 to the
Current Issuer Trust Deed;

"Blocked Note" has the meaning specified in Schedule 4 to the Current Issuer
Trust Deed;

"Business Day" means, in relation to the Current Issuer Notes and the Current
Issuer Intercompany Loan, a day that is a London Business Day, a New York
Business Day and a TARGET Business Day;

"Calculation Agent" in relation to any Current Issuer Swap Agreement has the
meaning given to it under such Current Issuer Swap Agreement;

"certification date" has the meaning specified in the Current Issuer Trust
Deed;

"Chairman" has the meaning set out in Schedule 4 to the Current Issuer Trust
Deed;

"Class A Enforcement Notice" means a notice issued by the Note Trustee to the
Current Issuer and the Security Trustee on the occurrence of a Current Issuer
Note Event of Default, declaring the Class A Notes to be due and repayable
pursuant to Condition 9(A) of the Current Issuer Notes;

"Class A Noteholders" means the Series 1 Class A Noteholders, the Series 2
Class A Noteholders and the Series 3 Class A Noteholders;

"Class A Notes" means, in relation to the Current Issuer, the Series 1 Class
A1 Notes, the Series 1 Class A2 Notes, the Series 1 Class A3 Notes, the Series
2 Class A Notes and the Series 3 Class A Notes or any of them as the context
may require and, in relation to any other Issuer, the Notes issued by such
Issuer which are defined as such under the relevant Issuer Master Definitions
Schedule;

"Class A Principal Deficiency Sub Ledger" means the sub-ledger of the Current
Issuer Principal Deficiency Ledger corresponding to the Class A Notes;

"Class B Enforcement Notice" means a notice issued by the Note Trustee to the
Current Issuer and the Security Trustee on the occurrence of a Current Issuer
Note Event of Default, declaring the Class B Notes to be due and repayable
pursuant to Condition 9(B) of the Current Issuer Notes;

"Class B Noteholders" means the Series 1 Class B Noteholders, the Series 2
Class B Noteholders and the Series 3 Class B Noteholders;

"Class B Notes" means, in relation to the Current Issuer, the Series 1 Class B
Notes, the Series 2 Class B Notes and the Series 3 Class B Notes or any of
them as the context may require; and, in relation to any other Issuer, the
Notes issued by such Issuer which are defined as such under the relevant
Issuer Master Definitions Schedule;

"Class B Principal Deficiency Sub Ledger" means the sub-ledger of the Current
Issuer Principal Deficiency Ledger corresponding to the Class B Notes;

                                      3
<PAGE>

"Class M Enforcement Notice" means, a notice issued by the Note Trustee to the
Current Issuer and the Security Trustee on the occurrence of a Current Issuer
Note Event of Default, declaring the Class M Notes to be due and repayable
pursuant to Condition 9(C) of the Current Issuer Notes;

"Class M Noteholders" means the Series 1 Class M Noteholders, the Series 2
Class M Noteholders and the Series 3 Class M Noteholders;

"Class M Notes" means, in relation to the Current Issuer, the Series 1 Class M
Notes, the Series 2 Class M Notes and the Series 3 Class M Notes or any of
them as the context may require; and, in relation to any other Issuer, the
Notes issued by such Issuer which are defined as such under the relevant
Issuer Master Definitions Schedule;

"Class M Principal Deficiency Sub Ledger" means the sub-ledger of the Current
Issuer Principal Deficiency Ledger corresponding to the Class M Notes;

"Class C Enforcement Notice" means, a notice issued by the Note Trustee to the
Current Issuer and the Security Trustee on the occurrence of a Current Issuer
Note Event of Default, declaring the Class C Notes to be due and repayable
pursuant to Condition 9(D) of the Current Issuer Notes;

"Class C Noteholders" means the Series 1 Class C Noteholders, the Series 2
Class C Noteholders and the Series 3 Class C Noteholders;

"Class C Notes" means, in relation to the Current Issuer, the Series 1 Class C
Notes, the Series 2 Class C Notes and the Series 3 Class C Notes or any of
them as the context may require; and, in relation to any other Issuer, the
Notes issued by such Issuer which are defined as such under the relevant
Issuer Master Definitions Schedule;

"Class C Principal Deficiency Sub Ledger" means the sub-ledger of the Current
Issuer Principal Deficiency Ledger corresponding to the Class C Notes;

"Clearing System" means any of DTC (with respect to the Dollar Notes) and
Euroclear and Clearstream, Luxembourg (with respect to the Euro Notes and the
Sterling Notes), and any other or additional organisation of a similar nature
as may be approved in writing by the Note Trustee;

"Closing Date" means 24 September 2003

"Common Depositary" means Citibank, N.A. in its capacity as common depositary
for Euroclear or Clearstream, Luxembourg in respect of the Sterling Global
Note Certificates and the Euro Global Note Certificates;

"Conditions" or "Terms and Conditions" means, in relation to any Current
Issuer Notes, the terms and conditions to be endorsed on such Current Issuer
Notes in the form or substantially in the form scheduled to the Current Issuer
Trust Deed, as any of the same may from time to time be amended, varied or
restated in accordance with the provisions of the Current Issuer Trust Deed,
and any reference to a numbered Condition shall be construed accordingly;

"Contractual Currency" has the meaning specified in Clause 13 of the Current
Issuer Trust Deed;

"Current Issuer" means Granite Mortgages 03-3 plc, a company incorporated with
limited liability under the laws of England and Wales, registered number
4823268;

"Current Issuer Account Bank" means the bank at which the Current Issuer Bank
Accounts are maintained from time to time, being Citibank, N.A., 5 Carmelite
Street, London EC4Y 0PA, or any

                                      4
<PAGE>

other Authorised Entity appointed by the Current Issuer in accordance with the
Current Issuer Transaction Documents;

"Current Issuer Available Principal Receipts" means:

(1)      prior to enforcement of the Current Issuer Security, in respect of
         any Payment Date, the sum calculated by the Current Issuer Cash
         Manager on the Distribution Date immediately preceding such Payment
         Date equal to:

         (a)      all principal amounts repaid by Funding to the Current
                  Issuer under the Current Issuer Intercompany Loan during the
                  period from (but excluding) the immediately preceding
                  Payment Date to (and including) such Payment Date; and

         (b)      all Current Issuer Available Revenue Receipts which are to
                  be used on that Payment Date to credit the Current Issuer
                  Principal Deficiency Sub Ledger for any Class of Notes
                  issued by the Current Issuer;
         less

         (c)      the aggregate of all principal amounts (if any) repaid by
                  Funding to the Current Issuer under the Current Issuer
                  Intercompany Loan on the relevant Payment Date which are to
                  be applied on the relevant Payment Date to pay items (A)
                  through (E), (G), (I) or (K) of the Current Issuer
                  Pre-Enforcement Revenue Priority of Payments; and

(2)      following enforcement of the Current Issuer Security, in respect of
         any Payment Date, the sum calculated by or on behalf of the Note
         Trustee on the Distribution Date immediately preceding such Payment
         Date as the amount to be repaid by Funding to the Current Issuer
         under the Current Issuer Intercompany Loan during the relevant
         Interest Period and/or the sum otherwise recovered by the Note
         Trustee (or the Receiver appointed on its behalf) representing the
         Principal Amount Outstanding of the Notes;

"Current Issuer Available Revenue Receipts" means, in respect of any Payment
Date, the sum calculated by the Current Issuer Cash Manager on the
Distribution Date immediately preceding such Payment Date equal to:

(1)      interest, fees and any other amount (not including principal), if
         any, paid by Funding on the relevant Payment Date under the terms of
         the Current Issuer Intercompany Loan Agreement;

(2)      other net income of the Current Issuer (not otherwise included in (1)
         above or (3) below) including amounts received by the Current Issuer
         under or in accordance with the Basis Rate Swap Agreement (excluding
         Swap Collateral Excluded Amounts) and any early termination amounts
         (other than such early termination amounts applied or to be applied
         by the Current Issuer in the purchase of one or more replacement
         hedge transactions) received by the Current Issuer under the Current
         Issuer Swap Agreements;

(3)      interest payable on the Current Issuer Bank Accounts and any income
         from Authorised Investments made with funds standing to the credit of
         the Current Issuer Bank Accounts, in each case which has been or will
         be received on or before the relevant Payment Date; and

(4)      (only to the extent required after making the relevant calculations
         set out in the Current Issuer Cash Management Agreement), the
         aggregate of all principal amounts (if any) repaid by Funding to the
         Current Issuer under the Current Issuer Intercompany Loan amount of
         Current

                                      5
<PAGE>

         Issuer Principal Receipts (if any) on the relevant Payment Date which
         are to be applied to pay items (A) through (E), (G), (I) and/or (K)
         of the Current Issuer Pre-Enforcement Revenue Priority of Payments;

"Current Issuer Bank Account Agreement" means the bank account agreement dated
on or about the Closing Date between the Current Issuer, the Seller, the
Current Issuer Cash Manager, the Current Issuer Account Bank and the Note
Trustee;

"Current Issuer Bank Accounts" means the Current Issuer Transaction Accounts
and also includes any additional or replacement bank account opened in the
name of the Current Issuer from time to time with the prior written consent of
the Note Trustee and the Rating Agencies;

"Current Issuer Basis Rate Swap" means the swap transaction documented under
the Current Issuer Basis Rate Swap Agreement;

"Current Issuer Basis Rate Swap Agreement" means the ISDA Master Agreement,
Schedule and Confirmation thereto each entered into on or about the Closing
Date and any Credit Support Annex or other credit support documents entered
into at any time among the Current Issuer, the Current Issuer Basis Rate Swap
Provider, the Note Trustee and/or any credit support provider, as may be
amended, restated, varied or supplemented from time to time and shall include
any additional and/or replacement basis rate swap agreement entered into by
the Current Issuer from time to time in accordance with the Transaction
Documents;

"Current Issuer Basis Rate Swap Provider" means Northern Rock and/or, as
applicable, any other basis rate swap provider appointed from time to time by
the Current Issuer in accordance with the Current Issuer Transaction
Documents;

"Current Issuer Cash Management Agreement" means the cash management agreement
entered into on or about the Closing Date between the Current Issuer Cash
Manager, the Current Issuer and the Note Trustee, as may be amended, restated,
varied or supplemented from time to time and shall include any additional
and/or replacement cash management agreement entered into by the Current
Issuer from time to time in connection with the Current Issuer Notes;

"Current Issuer Cash Management Services" means the services to be provided to
the Current Issuer and the Note Trustee by the Current Issuer Cash Manager
pursuant to the Current Issuer Cash Management Agreement;

"Current Issuer Cash Manager" means Northern Rock acting pursuant to the
Current Issuer Cash Management Agreement as agent for the Current Issuer and
the Note Trustee in managing all cash transactions and maintaining certain
ledgers on behalf of the Current Issuer;

"Current Issuer Cash Manager Termination Event" means any of the events
specified in paragraphs (a) through (c) of Clause 12.1 of the Current Issuer
Cash Management Agreement;

"Current Issuer Charged Property" means the property, assets and undertakings
of the Current Issuer which from time to time are or are expressed to be
mortgaged, charged, assigned, pledged or otherwise encumbered to, or in favour
of, the Note Trustee for itself and for the Current Issuer Secured Creditors
under the Current Issuer Deed of Charge or any other Current Issuer
Transaction Document;

"Current Issuer Conditions" or "Current Issuer Terms and Conditions" means the
terms and conditions to be endorsed on the Current Issuer Notes, substantially
in the form set out in Schedule 3 to the Current Issuer Trust Deed, as any of
the same may be amended, varied or restated in accordance

                                      6
<PAGE>

with the provisions of the Current Issuer Trust Deed, and any reference to a
numbered Condition shall be construed accordingly;

"Current Issuer Corporate Services Agreement" means the corporate services
agreement entered into on or before the Closing Date between, inter alia, the
Current Issuer Corporate Services Provider, Holdings, the Current Issuer Post
Enforcement Call Option Holder, the Current Issuer and Northern Rock for the
provision by the Current Issuer Corporate Services Provider of certain
corporate services with respect to Holdings, the Current Issuer Post
Enforcement Call Option Holder and the Current Issuer as may be amended,
restated, varied or supplemented from time to time and shall include any
additional and/or replacement corporate services agreement entered into by
such parties from time to time in accordance with the Current Issuer
Transaction Documents;

"Current Issuer Corporate Services Provider" means in relation to any of the
Current Issuer, Holdings or the Current Issuer Post Enforcement Call Option
Holder, Law Debenture Corporate Services Limited or such other person or
persons for the time being acting as corporate services provider under the
Current Issuer Corporate Services Agreement;

"Current Issuer Currency Swap Agreements" means the Current Issuer Dollar
Currency Swap Agreements and the Current Issuer Euro Currency Swap Agreements;

"Current Issuer Currency Swap Providers" means the Current Issuer Dollar
Currency Swap Provider and the Current Issuer Euro Currency Swap Provider;

"Current Issuer Currency Swaps" means the Current Issuer Dollar Currency Swaps
and the Current Issuer Euro Currency Swaps;

"Current Issuer Deed of Accession" means the deed of accession entered into on
or about the Closing Date between Funding, the Security Trustee, the Current
Issuer, the Current Issuer Start-Up Loan Provider and others whereby, among
other things, the Current Issuer and the Current Issuer Start-Up Loan Provider
accede to the provisions of the Funding Deed of Charge;

"Current Issuer Deed of Charge" means the deed of charge entered into on or
about the Closing Date between the Current Issuer, the Note Trustee, the
Current Issuer Swap Providers, the Current Issuer Corporate Services Provider,
the Current Issuer Account Bank, the Current Issuer Cash Manager, the
Principal Paying Agent and the other Agents appointed pursuant to the Current
Issuer Paying Agent and Agent Bank Agreement as may be amended, restated,
varied or supplemented from time in accordance with the Current Issuer
Transaction Documents;

"Current Issuer Dollar Account" means the account of the Current Issuer
(account number 10138258) held with the Current Issuer Account Bank,
denominated in U.S. Dollars and maintained subject to the terms of the Current
Issuer Bank Account Agreement and the Current Issuer Deed of Charge, or any
additional or replacement account denominated in U.S. Dollars as may for the
time being be in place with the prior consent of the Note Trustee;

"Current Issuer Dollar Currency Swap Agreements" means the ISDA Master
Agreements, Schedules and Confirmations thereto entered into on or about the
Closing Date and any Credit Support Annexes or other credit support documents
entered into at any time among the Current Issuer, the Current Issuer Dollar
Currency Swap Provider, the Note Trustee and/or any credit support provider,
as may be amended, restated varied or supplemented from time to time and shall
include any additional and/or replacement currency swap agreement or
agreements entered into by the Current Issuer from time to time in connection
with the Current Issuer Notes;

                                      7
<PAGE>

"Current Issuer Dollar Currency Swap Provider" means Swiss Re Financial
Products Corporation as swap counterparty to the Current Issuer under the
Current Issuer Dollar Currency Swap Agreements;

"Current Issuer Dollar Currency Swap Rates" means, in relation to the Current
Issuer Notes, the rates at which Dollars are converted to Sterling or, as the
case may be, Sterling is converted to Dollars pursuant to the applicable
Current Issuer Dollar Currency Swap or, if there are no relevant Current
Issuer Dollar Currency Swap Agreements in effect at such time, in relation to
such class of Notes, the "spot" rate at which Dollars are converted to
Sterling or, as the case may be, Sterling is converted to Dollars, on the
foreign exchange markets;

"Current Issuer Dollar Currency Swaps" means, in relation to the Current
Issuer, the Sterling-Dollar currency swap transactions which enable the
Current Issuer to receive and pay amounts under the Current Issuer
Intercompany Loan in Sterling and to receive and pay amounts under the Dollar
Notes in Dollars;

"Current Issuer Euro Account" means the account of the Current Issuer (account
number 10138274) held with the Current Issuer Account Bank, denominated in
Euro and maintained subject to the terms of the Current Issuer Bank Account
Agreement and the Current Issuer Deed of Charge, or any additional or
replacement account denominated in Euro as may for the time being be in place
with the prior consent of the Note Trustee;

"Current Issuer Euro Currency Swap Agreements" means the ISDA Master
Agreements, Schedules and Confirmations thereto entered into on or about the
Closing Date and any Credit Support Annexes or other credit support documents
entered into at any time among the Current Issuer, the Current Issuer Euro
Currency Swap Provider, the Note Trustee and/or any credit support provider,
as may be amended, restated varied or supplemented from time to time and shall
include any additional and/or replacement currency swap agreement or
agreements entered into by the Current Issuer from time to time in connection
with the Current Issuer Notes;

"Current Issuer Euro Currency Swap Provider" means Citibank, N.A., London
branch as swap counterparty to the Current Issuer under the Current Issuer
Euro Currency Swap Agreements;

"Current Issuer Euro Currency Swap Rates" means, in relation to the Current
Issuer Notes, the rates at which Euro is converted to Sterling or, as the case
may be, Sterling is converted to Euro pursuant to the applicable Current
Issuer Euro Currency Swap or, if there are no relevant Current Issuer Euro
Currency Swap Agreements in effect at such time, in relation to such class of
Notes, the "spot" rate at which Euro is converted to Sterling or, as the case
may be, Sterling is converted to Euro, on the foreign exchange markets;

"Current Issuer Euro Currency Swaps" means, in relation to the Current Issuer,
the Sterling-Euro currency swap transactions which enable the Current Issuer
to receive and pay amounts under the Current Issuer Intercompany Loan in
Sterling and to receive and pay amounts under the Euro Notes in Euro;

"Current Issuer Event of Default" means a Current Issuer Note Event of
Default;

"Current Issuer Income Deficit" means the amount of the shortfall between
Current Issuer Available Revenue Receipts and the amounts required to pay
items (A) through (E) (inclusive), (G), (I) and (K) of the Current Issuer
Pre-Enforcement Revenue Priority of Payments;

                                      8
<PAGE>

"Current Issuer Intercompany Loan" means the loan made by the Current Issuer
to Funding on or about the Closing Date pursuant to the Current Issuer
Intercompany Loan Agreement;

"Current Issuer Intercompany Loan Agreement" means together the Current Issuer
Intercompany Loan Confirmation and the Intercompany Loan Terms and Conditions;

"Current Issuer Intercompany Loan Confirmation" means the loan confirmation in
respect of the Current Issuer Intercompany Loan Agreement entered into on or
about the Closing Date and made between Funding, the Current Issuer, the
Security Trustee and the Current Issuer Agent Bank;

"Current Issuer Intercompany Loan Event of Default" means the occurrence of an
Intercompany Loan Event of Default as specified in the Current Issuer
Intercompany Loan Agreement;

"Current Issuer Jersey Enforcement Notice" has the meaning given to it in
Clause 7.2 of the Current Issuer Deed of Charge;

"Current Issuer Jersey Secured Property" means, at any time, the Current
Issuer Charged Property which is situated in Jersey at such time;

"Current Issuer Ledgers" means the Current Issuer Revenue Ledger, the Current
Issuer Principal Ledger, the Current Issuer Reserve Fund Ledger, the Current
Issuer Liquidity Reserve Ledger, the Current Issuer Principal Deficiency
Ledger and the Swap Collateral Ledger and any other ledger required to be
maintained pursuant to the Current Issuer Cash Management Agreement;

"Current Issuer Liquidity Reserve Fund" means the liquidity reserve fund in
Funding's name which Funding will be required to establish pursuant to the
Current Issuer Intercompany Loan Agreement if the long term, unsecured,
unsubordinated and unguaranteed debt obligations of the Seller cease to be
rated at least A3 by Moody's or A- by Fitch (unless Moody's or Fitch, as
applicable, confirms that the then-current ratings of the Notes will not be
adversely affected). The Current Issuer Liquidity Reserve Fund, if any, will
be funded to the relevant Current Issuer Liquidity Reserve Required Amount;

"Current Issuer Liquidity Reserve Ledger" means a ledger maintained by the
Current Issuer Cash Manager in the name of Funding to record the amount
credited to the Current Issuer Liquidity Reserve Fund held by Funding in
respect of the Current Issuer on the Closing Date, and subsequent withdrawals
and deposits in respect of the Current Issuer Liquidity Reserve Fund;

"Current Issuer Liquidity Reserve Required Amount" means an amount as of any
Payment Date equal to the excess, if any, of 3% of the aggregate outstanding
balance of the Notes on that Payment Date over amounts standing to the credit
of the Current Issuer Reserve Fund on that Payment Date;

"Current Issuer Master Definitions Schedule" means this master definitions
schedule relating to the Current Issuer and the Current Issuer Transaction
Documents signed for the purposes of identification by Sidley Austin Brown &
Wood and Allen & Overy on or about the Closing Date, as the same may be
amended, restated and supplemented from time to time;

"Current Issuer New Funding Secured Creditors" means the Current Issuer
Start-Up Loan Provider and the Current Issuer;

"Current Issuer Note Determination Date" means the Distribution Date
immediately preceding each Payment Date;

                                      9
<PAGE>

"Current Issuer Note Enforcement Notice" means a notice issued by the Note
Trustee to the Current Issuer and the Security Trustee declaring any of the
Current Issuer Notes to be due and repayable pursuant to Condition 9 of the
Current Issuer Notes;

"Current Issuer Note Event of Default" means the occurrence of an event of
default by the Current Issuer as specified in Condition 9 of the Current
Issuer Notes;

"Current Issuer Notes" means the US Notes and Reg S Notes issued by the
Current Issuer or any of them as the context may require;

"Current Issuer Paying Agent and Agent Bank Agreement" means the paying agent
and agent bank agreement to be entered into on or about the Closing Date
between, inter alios, the Current Issuer, the Note Trustee, the Principal
Paying Agent, the US Paying Agent and the other Agents and any other agreement
for the time being in force appointing successor agents and shall include any
additional and/or replacement paying agent and agent bank agreement entered
into by the Current Issuer from time to time in accordance with the
Transaction Documents;

"Current Issuer Post-Enforcement Call Option Agreement" means the
post-enforcement call option agreement to be entered into on or about the
Closing Date between the Current Issuer, the Current Issuer Post-Enforcement
Call Option Holder and the Note Trustee;

Current Issuer Post-Enforcement Call Option Holder" means GPCH Limited, a
company incorporated with limited liability under the laws of England and
Wales, registered number 4128437, or such other person or persons for the time
being acting as post-enforcement call option holder under the Current Issuer
Post-Enforcement Call Option Agreement;

"Current Issuer Post-Enforcement Priority of Payments" means the order of
priority of payments in which Current Issuer Available Revenue Receipts,
Current Issuer Available Principal Receipts and all other monies and proceeds
received or recovered by or on behalf of the Current Issuer or the Note
Trustee or any Receiver will be applied following enforcement of the Current
Issuer Security and as set out in Schedule 2 to the Current Issuer Deed of
Charge (as the same may be amended or varied from time to time in accordance
with the Current Issuer Transaction Documents);

"Current Issuer Post-Liquidity Payments" means the payments set out in items
(H) through (L) under the Current Issuer Pre-Enforcement Revenue Priority of
Payments (or the relevant payments in the equivalent items under such other
Current Issuer Priority of Payments as may apply on that Payment Date);

"Current Issuer Post-Reserve Payments" means the payments set out in item (M)
under the Current Issuer Pre-Enforcement Revenue Priority of Payments (or the
relevant payments in the equivalent items under such other Current Issuer
Priority of Payments as may apply on that Payment Date);

"Current Issuer Post-Start-up Payments" means the payments set out in items
(N) and (O) under the Current Issuer Pre-Enforcement Revenue Priority of
Payments (or the relevant payments in the equivalent items under such other
Current Issuer Priority of Payments as may apply on that Payment Date);

"Current Issuer Potential Note Event of Default" means any condition, event or
act which with the lapse of time and/or the giving of any notice and/or
determination of materiality and/or fulfilment of any similar condition would
constitute a Current Issuer Note Event of Default;

                                      10
<PAGE>

"Current Issuer Pre-Enforcement Principal Priority of Payments" means the
order of priority of payments in which the Current Issuer Available Principal
Receipts will be applied until enforcement of the Current Issuer Security as
set out in Schedule 2 to the Current Issuer Cash Management Agreement (as the
same may be amended or varied from time to time in accordance with the Current
Issuer Transaction Documents);

"Current Issuer Pre-Enforcement Priority of Payments" means, as applicable,
any of the Current Issuer Pre-Enforcement Revenue Priority of Payments or the
Current Issuer Pre-Enforcement Principal Priority of Payments;

"Current Issuer Pre-Enforcement Revenue Priority of Payments" means the order
of priority of payments in which the Current Issuer Available Revenue Receipts
will be applied until enforcement of the Current Issuer Security as set out in
Schedule 2 to the Current Issuer Cash Management Agreement (as the same may be
amended or varied from time to time in accordance with the Current Issuer
Transaction Documents);

"Current Issuer Pre-Liquidity Payments" means the payments set out in items
(A) through (G) under the Current Issuer Pre-Enforcement Revenue Priority of
Payments (or the relevant payments in the equivalent items under such other
Current Issuer Priority of Payments as may apply on that Payment Date);

"Current Issuer Pre-Reserve Payments".  Not applicable to this transaction;

"Current Issuer Principal Deficiency Ledger" means the ledger maintained by
the Current Issuer Cash Manager in the name of the Current Issuer which will
be established on the Closing Date and will be sub-divided into sub ledgers
corresponding to the Class A Notes, the Class B Notes, the Class M Notes and
the Class C Notes in order to record Losses on Mortgage Loans allocated to the
Current Issuer Intercompany Loan which are to be applied to such Current
Issuer Notes, the application of Current Issuer Available Principal Receipts
in paying interest on such Current Issuer Notes and certain amounts ranking in
priority thereto in accordance with the Current Issuer Pre-Enforcement Revenue
Priority of Payments and the application by Funding of Issuer Allocable
Principal Receipts of the Current Issuer to fund or replenish the Current
Issuer Liquidity Reserve Fund (if any);

"Current Issuer Principal Deficiency Sub Ledger" means any of the Class A
Principal Deficiency Sub Ledger, the Class B Principal Deficiency Sub Ledger,
the Class M Principal Deficiency Sub Ledger, or the Class C Principal
Deficiency Sub Ledger;

"Current Issuer Principal Ledger" means the ledger maintained by the Current
Issuer Cash Manager pursuant to the Current Issuer Cash Management Agreement
to record the Current Issuer Principal Receipts standing to the credit of each
of the Current Issuer Transaction Accounts from time to time;

"Current Issuer Principal Payments" means the payments set forth in items (A)
through (G) under the Current Issuer Pre-Enforcement Principal Priority of
Payments (or the relevant payments set forth in the equivalent items in such
other Current Issuer Priority of Payments as may apply on that Payment Date);

"Current Issuer Principal Receipts" means on any Payment Date principal
amounts repaid by Funding in respect of the Current Issuer Intercompany Loan
on such Payment Date;

                                      11
<PAGE>

"Current Issuer Priority of Payments" means, as applicable, any of the Current
Issuer Pre-Enforcement Revenue Priority of Payments, the Current Issuer
Pre-Enforcement Principal Priority of Payments or the Current Issuer
Post-Enforcement Priority of Payments;

"Current Issuer Reserve Fund" means the reserve fund established in the name
of Funding in respect of the Current Issuer as required under the terms of the
Current Issuer Intercompany Loan on the Closing Date in an amount up to the
Current Issuer Reserve Required Amount;

"Current Issuer Reserve Fund Ledger" means a ledger maintained by the Current
Issuer Cash Manager in the name of Funding to record the amount credited to
the Current Issuer Reserve Fund held by Funding in respect of the Current
Issuer on the Closing Date, and subsequent withdrawals and deposits in respect
of the Current Issuer Reserve Fund;

"Current Issuer Reserve Required Amount" means an amount equal to
(GBP)33,400,000;

"Current Issuer Reserve Requirement" means the Current Issuer Reserve
Requirement as the same relates to the Current Issuer and the
Current Issuer Reserve Fund;

"Current Issuer Revenue Ledger" means the ledger maintained by the Current
Issuer Cash Manager pursuant to the Current Issuer Cash Management Agreement
to record the Current Issuer Revenue Receipts standing to the credit of the
Current Issuer Transaction Accounts from time to time;

"Current Issuer Revenue Receipts" means for the Current Issuer in respect of
any Payment Date an amount equal to the sum of:

(1)      interest, fees and any other amount (not including principal), if
         any, paid by Funding on such Payment Date under the terms of the
         Current Issuer Intercompany Loan Agreement;

(2)      other net income of the Current Issuer (not otherwise included in (1)
         above or (3) below) including amounts received by the Current Issuer
         under or in accordance with the Basis Rate Swap Agreement (excluding
         Swap Collateral Excluded Amounts) and any early termination amounts
         (other than such early termination amounts applied or to be applied
         by the Current Issuer in the purchase of one or more replacement
         hedge transactions) received by the Current Issuer under the Current
         Issuer Swap Agreements;

(3)      interest received on the Current Issuer Bank Accounts and any income
         from Authorised Investments made with funds standing to the credit of
         the Current Issuer Bank Accounts, in each case which has been or will
         be received on or before such Payment Date,

(in each case for the avoidance of doubt not including amounts received in
respect of principal);

"Current Issuer Secured Creditors" means the Note Trustee (and any Receiver
appointed pursuant to the Current Issuer Deed of Charge), the Current Issuer
Swap Providers, the Current Issuer Corporate Services Provider, the Current
Issuer Account Bank, the Current Issuer Cash Manager, the Paying Agents, the
Agent Bank, the Registrar, the Transfer Agent and the Noteholders;

"Current Issuer Secured Obligations" means any and all of the monies,
obligations and liabilities which the Current Issuer covenants to pay or
discharge under or pursuant to Clause 2 of the Current Issuer Deed of Charge
and all other amounts owed by it to the Current Issuer Secured Creditors under
and pursuant to the Current Issuer Transaction Documents;

                                      12
<PAGE>

"Current Issuer Security" means the security granted by the Current Issuer
under or pursuant to the Current Issuer Deed of Charge in favour of the Note
Trustee for the benefit of the Current Issuer Secured Creditors;

"Current Issuer Start-up Loan" means the start-up loan that the Current Issuer
Start-up Loan Provider shall make available to Funding pursuant to the Current
Issuer Start-up Loan Agreement;

"Current Issuer Start-up Loan Agreement" means the agreement entered into on
or about the Closing Date between Funding, the Current Issuer Start-up Loan
Provider and the Security Trustee relating to the provision of the Current
Issuer Start-up Loan to Funding as may be amended, restated, varied or
supplemented from time to time and shall include any additional and/or
replacement start-up loan agreement entered into by such parties in accordance
with the Current Issuer Transaction Documents;

"Current Issuer Start-up Loan Provider" means Northern Rock, in its capacity
as provider of the Current Issuer Start-up Loan and/or such other person or
persons for the time being the lender under the Current Issuer Start-up Loan
Agreement;

"Current Issuer Sterling Account" means the account of the Current Issuer
(sort code 18-50-08, account number 10138266) held with the Current Issuer
Account Bank, denominated in Sterling and maintained subject to the terms of
the Current Issuer Bank Account Agreement and the Current Issuer Deed of
Charge, or any additional or replacement account denominated in Sterling as
may for the time being be in place with the prior consent of the Note Trustee;

"Current Issuer Subscription Agreement" means with respect to the Current
Issuer Notes, the subscription agreement relating to the sale of the Reg S
Notes, dated 19 September 2003 between the Current Issuer, Funding, the
Mortgages Trustee and the Managers;

"Current Issuer Swap Agreements" means the Current Issuer Basis Rate Swap
Agreement, the Current Issuer Dollar Currency Swap Agreements and the Current
Issuer Euro Currency Swap Agreements and "Current Issuer Swap Agreement" means
any one of them;

"Current Issuer Swap Providers" means the Current Issuer Basis Rate Swap
Provider, the Current Issuer Dollar Currency Swap Provider and the Current
Issuer Euro Currency Swap Provider and "Current Issuer Swap Provider" means
any one of them;

"Current Issuer Transaction Accounts" means the day to day bank accounts of
the Current Issuer, held with the Current Issuer Account Bank and comprising
the Current Issuer Euro Account, the Current Issuer Sterling Account and the
Current Issuer Dollar Account as at the Closing Date, or any other account of
the Current Issuer that may be opened, with the prior approval of the Note
Trustee, after the Closing Date, and maintained subject to the terms of the
Current Issuer Bank Account Agreement and the Current Issuer Deed of Charge;

"Current Issuer Transaction Document" means any of the following documents:

(a)      the Current Issuer Subscription Agreement;

(b)      the Current Issuer Underwriting Agreement;

(c)      the Current Issuer Intercompany Loan Agreement;

(d)      the Current Issuer Deed of Charge;

(e)      the Current Issuer Deed of Accession;

                                      13
<PAGE>

(f)      the Current Issuer Basis Rate Swap Agreement;

(g)      the Current Issuer Dollar Currency Swap Agreements;

(h)      the Current Issuer Euro Currency Swap Agreements;

(i)      the Current Issuer Trust Deed;

(j)      the Current Issuer Paying Agent and Agent Bank Agreement;

(k)      the Current Issuer Cash Management Agreement;

(l)      the Current Issuer Post-Enforcement Call Option Agreement;

(m)      the Current Issuer Bank Account Agreement;

(n)      the Current Issuer Notes;

(o)      the Current Issuer Corporate Services Agreement

(p)      the Current Issuer Start-up Loan Agreement;

(q)      any Swap Collateral Ancillary Document; and

(r)      each other document entered into or to be entered into by the Current
         Issuer pursuant to or in connection with any of the above documents
         (including any agreement entered into by the Current Issuer as a
         replacement of any of the above agreements upon the termination
         thereof);

"Current Issuer Trust Deed" means the trust deed entered into on or about the
Closing Date between the Current Issuer and the Note Trustee constituting the
Current Issuer Notes;

"Current Issuer Underwriting Agreement" means in relation to the Current
Issuer Notes, the underwriting agreement relating to the sale of the US Notes,
dated 19 September 2003, among the Current Issuer, Funding, the Mortgages
Trustee and the Underwriters;

"Cut-Off Date" means 31 July 2003;

"Deferred Interest" in relation to the Current Issuer Notes has the meaning
given to it under Condition 4 of the Current Issuer Notes;

"Designated Subsidiary" means a designated subsidiary of the Current Issuer
Post-Enforcement Call Option Holder, to be designated by notice from the
Current Issuer Post-Enforcement Call Option Holder to the Note Trustee at the
discretion of the Current Issuer Post-Enforcement Call Option Holder;

"Determination Date" means the first Business Day of any calendar month which
includes a Payment Date;

"Determination Period" means the period from (and including) the Closing Date
to (but excluding) the first Determination Date and thereafter from (and
including) one Determination Date to (but excluding) the next Determination
Date;

"Distribution Compliance Period" means, in relation to the Current Issuer
Notes, 40 days after the later of the commencement of the offering of the
Current Issuer Notes and the Closing Date;

"Dollar Currency Swap Agreements" means, in relation to the Current Issuer,
the Current Issuer Dollar Currency Swap Agreements and for any other Issuer,
the ISDA Master Agreements, Schedules, Confirmations and any Credit Support
Annexes or other credit support documents thereto entered into

                                      14
<PAGE>

among such Issuer, the related Dollar Currency Swap Provider, the Note Trustee
and/or any credit support provider, as may be amended, restated, varied or
supplemented from time to time and shall include any additional and/or
replacement dollar currency swap agreements entered into by such Issuer from
time to time in connection with the Notes issued by such Issuer;

"Dollar Currency Swap Provider" means, in relation to the Current Issuer, the
Current Issuer Dollar Currency Swap Provider and for any other Issuer, the
Dollar Currency Swap Provider for such Issuer appointed from time to time in
accordance with the relevant Issuer Transaction Documents;

"Dollar Currency Swap Provider Default" means, in relation to the Current
Issuer, the occurrence of an Event of Default (as defined in the Current
Issuer Dollar Currency Swap Agreements) or a Downgrade Termination Event under
the Current Issuer Dollar Currency Swap Agreements where the Current Issuer
Dollar Currency Swap Provider is the Defaulting Party or the Affected Party
(as defined in the Current Issuer Dollar Currency Swap Agreements);

"Dollar Currency Swap Rates" means, in relation to the Current Issuer, the
Current Issuer Dollar Currency Swap Rates;

"Dollar Currency Swaps" means, in relation to the Current Issuer, the Current
Issuer Dollar Currency Swaps and for any other Issuer, the swap transaction(s)
documented under the Dollar Currency Swap Agreements for such Issuer;

"Dollar Global Note Certificates" means the Global Note Certificates issued in
respect of the Dollar Notes and the "Dollar Global Note Certificate" means any
one of them;

"Dollar Interest Determination Date" means two London Business Days before the
first day of the Interest Period for which the rate will apply;

"Dollar Notes" means, in relation to the Current Issuer, the Series 1 Notes
and, in relation to any other Issuer, the Notes issued by such Issuer in U.S.
Dollars;

"Downgrade Termination Event" in relation to the Current Issuer Basis Rate
Swap Provider, has the meaning given to it in the Current Issuer Basis Rate
Swap Agreement and in relation to any Current Issuer Currency Swap Provider,
has the meaning given to it in the relevant Current Issuer Currency Swap
Agreement;

"Drawdown Date" means, in respect of the Current Issuer Intercompany Loan, the
Closing Date and, in respect of an Intercompany Loan made by any other Issuer,
the date on which the relevant Intercompany Loan was made to Funding by such
Issuer;

"DTC Custodian" means Citibank, N.A. in its capacity as custodian for DTC in
respect of the Dollar Global Note Certificates;

"Euro Currency Swap Agreements" means, in relation to the Current Issuer, the
Current Issuer Euro Currency Swap Agreements and for any other Issuer, the
ISDA Master Agreements, Schedules, Confirmations, and any Credit Support
Annexes or other credit support documents thereto entered into among such
Issuer, the related Euro Currency Swap Provider, the Note Trustee and/or any
credit support provider, as may be amended, restated, varied or supplemented
from time to time and shall include any additional and/or replacement euro
currency swap agreements entered into by such Issuer from time to time in
connection with the Notes issued by such Issuer;

                                      15
<PAGE>

"Euro Currency Swap Provider" means, in relation to the Current Issuer, the
Current Issuer Euro Currency Swap Provider and for any other Issuer, the Euro
Currency Swap Provider for such Issuer appointed from time to time in
accordance with the relevant Issuer Transaction Documents;

"Euro Currency Swap Provider Default" means the occurrence of an Event of
Default (as defined in the Current Issuer Euro Currency Swap Agreements) or a
Downgrade Termination Event under the Current Issuer Euro Currency Swap
Agreements where the Current Issuer Euro Currency Swap Provider is the
Defaulting Party or Affected Party (as defined in the Current Issuer Euro
Currency Swap Agreements);

"Euro Currency Swap Rate" means, in relation to the Current Issuer, the
Current Issuer Euro Currency Swap Rate;

"Euro Currency Swaps" means, in relation to the Current Issuer, the Current
Issuer Euro Currency Swaps and for any other Issuer, the swap transaction(s)
documented under the Euro Currency Swap Agreements for such Issuer;

"Euro Global Note Certificates" means the Global Note Certificates issued in
respect of the Euro Notes and the "Euro Global Note Certificate" means any one
of them;

"Euro Interest Determination Date" means two TARGET Business Days before the
first day of the Interest Period for which the rate will apply;

"Euro Notes" means in relation to the Current Issuer, the Series 2 Notes and,
in relation to any other Issuer, the Notes issued by such Issuer in Euro;

"Event of Default" means, as the context requires, any of the following:

(a)      in relation to the Current Issuer Notes, a Current Issuer Note Event
         of Default;

(b)      in relation to Previous Issuer Notes issued by a Previous Issuer, a
         Note Event of Default pursuant to the Terms and Conditions of such
         Previous Issuer Notes;

(c)      in relation to the New Notes issued by any New Issuer, a Note Event
         of Default pursuant to the Terms and Conditions of such New Notes;

(d)      in relation to the Current Issuer Intercompany Loan Agreement, a
         Current Issuer Intercompany Loan Event of Default;

(e)      in relation to the Previous Issuer Intercompany Loan Agreements, the
         occurrence of an event of default pursuant to the Intercompany Loan
         Terms and Conditions of the such Previous Issuer;

(f)      in relation to any New Intercompany Loan Agreement, the occurrence of
         an event of default pursuant to the Intercompany Loan Terms and
         Conditions of such New Issuer;

"Exchange Date" has the meaning specified in each form of Global Note
Certificate attached as Schedule 1 to the Current Issuer Trust Deed;

"Extraordinary Resolution" in relation to the Current Issuer Notes has the
meaning set out in Schedule 4 to the Current Issuer Trust Deed;

"Final Maturity Date" means:

(a)      in respect of the Series 1 Class A1 Notes, the Payment Date falling
         in January 2019;

                                      16
<PAGE>

(b)      in respect of the Series 1 Class A2 Notes, the Payment Date falling
         in January 2024; and

(c)      and in respect of any other Current Issuer Notes, the Payment Date
         falling in January 2044;

"Final Repayment Date" means, in respect of the Current Issuer Intercompany
Loan, the Payment Date falling in January 2044 and in relation to any other
Intercompany Loan the date specified under the relevant Issuer Transaction
Documents;

"Financial Year" means, in relation to the Current Issuer, Holdings, the
Mortgages Trustee, Funding and the Current Issuer Post Enforcement Call Option
Holder, each twelve month period ending on the last day of the calendar year;

"Fixed Rate Ratio" has the meaning given to it in the Current Issuer Basis
Rate Swap Agreement;

"Fixed Rate Spread" has the meaning given to it in the Current Issuer Basis
Rate Swap Agreement;

"Flexible Ratio" has the meaning given to it in the Current Issuer Basis Rate
Swap Agreement;

"Flexible Spread" has the meaning given to it in the Current Issuer Basis Rate
Swap Agreement;

"Flexible Swap Rate" has the meaning given to it in the Current Issuer Basis
Rate Swap Agreement;

"Form of Proxy" has the meaning specified in Schedule 4 to the Current Issuer
Trust Deed;

"Funding (Current Issuer) Bank Account Agreement" means the agreement entered
into on the Closing Date among the Account Bank, Funding and others which
governs the operation of the Funding (Current Issuer) GIC Account;

"Funding (Current Issuer) Guaranteed Investment Contract" means the guaranteed
investment contract entered into with respect to the Current Issuer among
Funding, the Funding GIC Provider and others under which the Funding GIC
Provider agrees to pay Funding a guaranteed rate of interest on the balance
from time to time of the Funding (Current Issuer) GIC Account;

"Funding (Current Issuer) GIC Account" means the account in the name of
Funding into which will be deposited amounts in respect of the related Current
Issuer Reserve Fund and the Current Issuer Liquidity Reserve Fund, if any,
established for the benefit of the Current Issuer, which account is held at
the Account Bank and maintained subject to the terms of the related Funding
(Current Issuer) Guaranteed Investment Contract, the related Funding (Current
Issuer) Bank Account Agreement and the Funding Deed of Charge, or any
additional or replacement account as may for the time being be in place with
the prior consent of the Security Trustee;

"Further Mortgage Loans" means any Mortgage Loan which was assigned by the
Seller to the Mortgages Trustee on 26 March 2001 under the terms of the
Mortgage Sale Agreement and referenced by its Mortgage Loan identifier number
and comprising the aggregate of all principal sums, interest, costs, charges,
expenses and other monies (including all Further Advances) due or owing with
respect to that Mortgage Loan under the relevant Mortgage Conditions by a
Borrower on the security of a Mortgage from time to time outstanding or, as
the context may require, the Borrower's obligations in respect of the same;

                                      17
<PAGE>

"Global Note Certificates" means the note certificates in global form issued
in respect of the Current Issuer Notes, initially in the form of the US Global
Note Certificates and the Reg S Global Note Certificates or any of them and
"Global Note Certificate" means any one of them;

"Holder" or "holder" means, in relation to the Current Issuer Notes, the
person in whose name a Current Issuer Note, for the time being is registered
in the Register (or in the case of joint holders, the first named thereof);

"Individual Note Certificates" means the note certificates representing the
Current Issuer Notes in definitive form;

"Initial Relevant Screen Rate" has the meaning specified in Condition 4(C) of
the Current Issuer Notes;

"Insolvency Event" in respect of the Seller, the Administrator, the Cash
Manager or the Current Issuer Cash Manager (each, for the purposes of this
definition, a "Relevant Entity") means:

(a)      an order is made or an effective resolution passed for the winding up
         of the Relevant Entity (except, in any such case, a winding-up or
         dissolution for the purpose of a reconstruction or amalgamation the
         terms of which have been previously approved by the Security
         Trustee);

(b)      the Relevant Entity ceases or threatens to cease to carry on its
         business or stops payment or threatens to stop payment of its debts
         or is deemed unable to pay its debts within the meaning of section
         123(a), (b), (c) or (d) of the Insolvency Act 1986 (as amended,
         modified or re-enacted) or becomes unable to pay its debts as they
         fall due or the value of its assets falls to less than the amounts of
         its liabilities (taking into account, for both these purposes,
         contingent and prospective liabilities) or otherwise becomes
         insolvent;

(c)      proceedings are initiated against the Relevant Entity under any
         applicable liquidation, administration, reorganisation (other than a
         reorganisation where the Relevant Entity is solvent) or other similar
         laws, save where such proceedings are being contested in good faith;
         or an administrative or other receiver, administrator or other
         similar official is appointed in relation to the whole or any
         substantial part of the undertaking or assets of the Relevant Entity;
         or a distress, execution or diligence or other process is enforced
         upon the whole or any substantial part of the undertaking or assets
         of the Relevant Entity and in any of the foregoing cases it is not
         discharged within 30 London Business Days; or if the Relevant Entity
         initiates or consents to judicial proceedings relating to itself
         under any applicable liquidation, administration, insolvency,
         reorganisation or other similar laws or makes a conveyance or
         assignment for the benefit of its creditors generally;

and in respect of the Current Issuer and Funding (for the purposes of this
definition, a "Relevant Entity"), means:

(a)      except for the purposes of an amalgamation or restructuring as
         described in sub-clause (b) below, the Relevant Entity ceases or
         threatens to cease to carry on all or a substantial part of its
         business or the Relevant Entity is deemed unable to pay its debts
         within the meaning of section 123(1)(a), (b), (c) or (d) of the
         Insolvency Act 1986 (as amended, modified or re-enacted) or becomes
         unable to pay its debts within the meaning of section 123(2) of the
         Insolvency Act 1986 (as amended, modified or re-enacted); or

(b)      an order is made or an effective resolution is passed for the winding
         up of the Relevant Entity (except for the purposes of or pursuant to
         an amalgamation, restructuring or merger previously approved by the
         Note Trustee or the Security Trustee, as the case may be (or as
         approved in writing by an Extraordinary Resolution (as defined in the
         Current Issuer Trust Deed) of the Class A Noteholders); or

                                      18
<PAGE>

(c)      proceedings are otherwise initiated against the Relevant Entity under
         any applicable liquidation, insolvency, composition, reorganisation
         or other similar laws (including, but not limited to, presentation of
         a petition for an administration order) and (except in the case of
         presentation of a petition for an administration order) such
         proceedings are not, in the opinion of the Note Trustee or the
         Security Trustee (as the case may be), being disputed in good faith
         with a reasonable prospect of success; or an administration order
         being granted or an administrative receiver or other receiver,
         liquidator or other similar official being appointed in relation to
         the Relevant Entity or in relation to the whole or any substantial
         part of the undertaking or assets of the Relevant Entity; or an
         encumbrancer taking possession of the whole or any substantial part
         of the undertaking or assets of the Relevant Entity, or a distress,
         execution, diligence or other process being levied or enforced upon
         or sued out against the whole or any substantial part of the
         undertaking or assets of the Relevant Entity and such possession or
         process (as the case may be) not being discharged or not otherwise
         ceasing to apply within 30 days; or the Relevant Entity initiating or
         consenting to judicial proceedings relating to itself under
         applicable liquidation, insolvency, composition, reorganisation or
         other similar laws or making a conveyance or assignment for the
         benefit of its creditors generally;

"Interest Amounts" has the meaning given to it under Condition 4(d) of the
Current Issuer Notes;

"Interest Determination Date" means, in relation to the Current Issuer Notes:

(a)      in respect of the US Notes, the date which is two London Business
         Days before the first day of the Interest Period for which the
         relevant interest rate will apply;

(b)      in respect of the Sterling Notes, in respect of the first Interest
         Period, the Closing Date, and in respect of subsequent Interest
         Periods, the first day of the Interest Period for which the relevant
         interest rate will apply; and

(c)      in respect of the Euro Notes, the date which is two TARGET Business
         Days before the first day of the Interest Period for which the
         relevant interest rate will apply;

"Interest Period" means:

(a)      in relation to each of the Current Issuer Notes and any Payment Date,
         the period from (and including) the immediately preceding Payment
         Date for such Current Issuer Note (or in respect of the first
         Interest Period, the Closing Date) to (but excluding) the next
         following (or first) Payment Date for such Current Issuer Note; and

(b)      in relation to the Current Issuer Start-up Loan and any Payment Date,
         the period from (and including) the immediately preceding Payment
         Date (or in respect of the first Interest Period, the Closing Date)
         to (but excluding) the next following (or first) Payment Date.

"Issuer Amount" has the meaning given to it in the Current Issuer Basis Rate
Swap Agreement;

"Jersey Secured Property" means, as the context requires, the Current Issuer
Jersey Secured Property or the Funding Jersey Secured Property;

"Jersey Security Interest" means a Security Interest created in accordance
with Jersey law pursuant to any relevant Transaction Document;

"Junior Noteholders" means the holders for the time being of the Class C
Notes;

"Junior Notes" means, in relation to the Current Issuer, the Class C Notes;

                                      19
<PAGE>

"Lead Managers" means, in relation to the Current Issuer Notes (1) in respect
of the US Notes, J.P. Morgan Securities Inc. and Lehman Brothers Inc. and (2)
in respect of the Reg S Notes, Barclays Bank PLC, J.P. Morgan Securities Ltd
and Lehman Brothers International (Europe);

"Managers" means, in relation to the Reg S Notes issued by the Current Issuer,
J.P. Morgan Securities Ltd, Lehman Brothers International (Europe), ING
Belgium SA/NV., Barclays Bank PLC and Deutsche Bank AG London;

"Master Definitions Schedule" means the master definitions schedule signed for
the purposes of identification by Brown & Wood and Clifford Chance Limited
Liability Partnership on or about 26 March 2001, as has been and may be
amended, restated, varied or supplemented from time to time, which is a
schedule of the definitions used in the Transaction Documents;

"Mezzanine Noteholders" means the holders for the time being of the Class B
Notes;

"Mezzanine Notes" means, in relation to the Current Issuer, the Class B Notes;

"Note Certificates" means any Global Note Certificates or Individual Note
Certificates;

"Note Determination Date" means, in relation to the Current Issuer Notes, the
Current Issuer Note Determination Date, in relation to Notes issued by any
other Issuer, the Distribution Date immediately preceding the relevant Payment
Date;

"Note Enforcement Notice" means, in relation to the Current Issuer, the
Current Issuer Note Enforcement Notice and in relation to any other Issuer, a
notice issued by the Note Trustee to such Issuer and the Security Trustee on
the occurrence of a Note Event of Default, declaring the Notes issued by that
Issuer or any class of such Notes to be due and repayable pursuant to the
Conditions of such Notes;

"Note Event of Default" means, in relation to the Current Issuer, a Current
Issuer Note Event of Default and, in relation to any other Issuer, the
occurrence of an event of default by such Issuer as specified in the relevant
Conditions of the Notes issued by such Issuer;

"Noteholders" means, in relation to the Current Issuer Notes, the Class A
Noteholders, the Class B Noteholders, the Class M Noteholders and the Class C
Noteholders or any of them, in relation to Notes issued by any other Issuer,
the holders for the time being of such Notes;

"Notes" means, in relation to the Current Issuer, the Current Issuer Notes
and, in relation to any other Issuer, the notes issued by such Issuer;

"notice" means, in respect of notice being given to the Noteholders, a notice
duly given in accordance with, in the case of the Current Issuer Notes,
Condition 14 of the Current Issuer Notes and, in the case of Notes issued by
any other Issuer, the relevant equivalent Condition of such Notes;

"Offering Circular" means, in relation to the Current Issuer Notes, the
offering circular dated 19 September 2003 relating to the issue of the Reg S
Notes and, in relation to Notes issued by any other Issuer, the offering
circular relating to the Reg S Notes issued by such Issuer including, in each
case, the Prospectus attached thereto;

"Officers' Certificate" means with respect to any Person, a certificate signed
by any director or equivalent officer of such Person. Each such certificate
shall include the statements provided for in Clause 16 of the Current Issuer
Trust Deed if and to the extent required by the provisions thereof;

                                      20
<PAGE>

"Opinion of Counsel" means an opinion in writing signed by legal counsel who
shall be acceptable to the Note Trustee and who may be counsel to the Current
Issuer or to an affiliate of the Current Issuer or to such other party as the
Note Trustee may from time to time agree. Each such opinion shall include the
statements provided for in Clause 16 of the Current Issuer Trust Deed if and
to the extent required by the provisions hereof;

"Paying Agent and Agent Bank Agreement" means, in relation to the Current
Issuer, the Current Issuer Paying Agent and Agent Bank Agreement, in relation
to any other Issuer, the Paying Agent and Agent Bank Agreement with respect to
such Issuer as defined in the Issuer Master Definitions Schedule relating to
such Issuer;

"Paying Agents" means the Principal Paying Agent and the US Paying Agent
initially appointed as paying agents pursuant to the Current Issuer Paying and
Agent Bank Agreement or, if applicable, any successor paying agents;

"Payment Date" means, in relation to the Current Issuer Notes, the 20th day of
January, April, July and October in each year beginning in January 2004 or, if
such day is not a Business Day, the next succeeding Business Day;

"Pool Factor" has the meaning specified in Condition 5(C) of the Current
Issuer Notes;

"Potential Current Issuer Event of Default" has the same meaning as "Potential
Note Event of Default";

"Preliminary Offering Circular" means, in relation to the Current Issuer
Notes, the preliminary offering circular dated 4 September 2003 relating to
the Reg S Notes and, in relation to Notes issued by any other Issuer, the
preliminary offering circular relating to the Reg S Notes issued by such
Issuer including, in each case, the Preliminary Prospectus attached thereto;

"Preliminary Prospectus" means, in relation to the Current Issuer Notes, the
preliminary prospectus dated 4 September 2003 relating to the US Notes and, in
relation to Notes issued by any other Issuer, the preliminary prospectus
relating to the US Notes issued by such Issuer;

"Principal Amount Outstanding" in relation to the Current Issuer Notes, has
the meaning set out in Condition 5(C) of the Current Issuer Notes and, in
relation to Notes issued by any other Issuer, has the meaning set out in the
Conditions of such Notes;

"Principal Paying Agent" means in relation to the Current Issuer Notes,
Citibank, N.A., whose principal office is 5 Carmelite Street, London EC4Y 0PA,
in its capacity as principal paying agent at its specified office initially
appointed as a principal paying agent pursuant to the Current Issuer Principal
Paying and Agent Bank Agreement or, if applicable, any successor principal
paying agent at its specified office;

"Prospectus" means, in relation to the Current Issuer Notes, the prospectus
dated 19 September 2003 relating to the US Notes and, in relation to Notes
issued by any other Issuer, the prospectus relating to the US Notes issued by
such Issuer;

"Proxy" has the meaning specified in Schedule 4 to the Current Issuer Trust
Deed;

"Rate of Interest" in relation to the Current Issuer Notes, has the meaning
given in Condition 4 of the Current Issuer Notes and, in relation to Notes
issued by any other Issuer, has the meaning set out in the Conditions of such
Notes;

"Rating Agencies" means S&P, Moody's and Fitch, and "Rating Agency" means any
of them;

                                      21
<PAGE>

"Reasonable Prudent Mortgage Lender" or "reasonable prudent mortgage lender"
means a reasonably prudent prime residential mortgage lender lending to
Borrowers in England and Wales who generally satisfy the lending criteria of
traditional sources of residential mortgage capital;

"Record Date" means the fifteenth day before the due date for any payment on
the Notes;

"Reference Banks" means the principal London office of each of Citibank N.A.,
ABN AMRO Bank N.V., Barclays Bank plc and The Royal Bank of Scotland plc or
any bank that replaces such bank;

"Reference Lenders" has the meaning given to it in the Current Issuer Basis
Rate Swap Agreement;

"Reg S Notes" means, in relation to the Current Issuer, the Series 2 Notes and
the Series 3 Notes;

"Register" means the register of Noteholders kept by the Registrar and which
records the identity of each Noteholder and the number of Notes that each
Noteholder owns;

"Registrar" in respect of the Current Issuer Notes, means Citibank, N.A.,
acting through its office at 5 Carmelite Street, London EC4Y 0PA appointed
initially pursuant to the Current Issuer Paying Agent and Agent Bank Agreement
or, if applicable, any successor registrar at its specified office, and
procured by the Current Issuer to maintain the Register;

"Registration Statement" means the registration statement on Form S-11 (No.
333-107463) as filed with the SEC;

"Regulation S Legend" has the meaning given to it in Section 16 of Schedule 2
to the Current Issuer Paying Agent and Agent Bank Agreement;

"Regulations" means as the context may require either (i) the Unfair Terms in
Consumer Contracts Regulations 1999 and/or, as applicable, the Unfair Terms in
Consumer Contracts Regulations 1994 or (ii) the Regulations set out in
Schedule 2 to the Current Issuer Paying Agent and Agent Bank Agreement;

"Relevant Margin" has the meaning specified in Condition 4 of the Current
Issuer Notes;

"Relevant Note" has the meaning specified in Schedule 4 to the Current Issuer
Trust Deed;

"Relevant Screen Rate" has the meaning specified in Condition 4 of the Current
Issuer Notes;

"Representative" has the meaning specified in Schedule 4 to the Current Issuer
Trust Deed;

"Security Documents" means the Current Issuer Deed of Charge, the Funding Deed
of Charge and each Deed of Accession entered into pursuant to the Funding Deed
of Charge and any other security document entered into pursuant to any of the
foregoing;

"Senior Noteholders" means the holders for the time being of the Class A
Notes;

"Senior Notes" means, in relation to the Current Issuer, the Class A Notes;

"Series 1 Class A1 Dollar Currency Swap" means, in relation to the Current
Issuer, the Sterling-Dollar currency swap transaction which enables the
Current Issuer to receive and pay amounts under the Current Issuer
Intercompany Loan in Sterling and to receive and pay amounts under the Series
1 Class A1 Notes in Dollars;

"Series 1 Class A2 Dollar Currency Swap" means, in relation to the Current
Issuer, the Sterling-Dollar currency swap transaction which enables the
Current Issuer to receive and pay amounts under the Current Issuer
Intercompany Loan in Sterling and to receive and pay amounts under the Series
1 Class A2 Notes in Dollars;

                                      22
<PAGE>

"Series 1 Class A3 Dollar Currency Swap" means, in relation to the Current
Issuer, the Sterling-Dollar currency swap transaction which enables the
Current Issuer to receive and pay amounts under the Current Issuer
Intercompany Loan in Sterling and to receive and pay amounts under the Series
1 Class A3 Notes in Dollars;

"Series 1 Class A1 Dollar Currency Swap Provider" means the Current Issuer
Dollar Currency Swap Provider;

"Series 1 Class A2 Dollar Currency Swap Provider" means the Current Issuer
Dollar Currency Swap Provider;

"Series 1 Class A3 Dollar Currency Swap Provider" means the Current Issuer
Dollar Currency Swap Provider;

"Series 1 Class A1 Global Note Certificate" means the Global Note Certificate
to be issued in respect of the Series 1 Class A1 Notes pursuant to Clause 3.1
(Global Note Certificates) of the Current Issuer Trust Deed in the form or
substantially in the form set out in Schedule 1 of the Current Issuer Trust
Deed;

"Series 1 Class A2 Global Note Certificate" means the Global Note Certificate
to be issued in respect of the Series 1 Class A2 Notes pursuant to Clause 3.1
(Global Note Certificates) of the Current Issuer Trust Deed in the form or
substantially in the form set out in Schedule 1 of the Current Issuer Trust
Deed;

"Series 1 Class A3 Global Note Certificate" means the Global Note Certificate
to be issued in respect of the Series 1 Class A3 Notes pursuant to Clause 3.1
(Global Note Certificates) of the Current Issuer Trust Deed in the form or
substantially in the form set out in Schedule 1 of the Current Issuer Trust
Deed;

"Series 1 Class A Global Note Certificates" means the Series 1 Class A1 Global
Note Certificate, the Series 1 Class A2 Global Note Certificate and the Series
1 Class A3 Global Note Certificate and the "Series 1 Class A Global Note
Certificate" means any one of them;

"Series 1 Class A Noteholders" means the Series 1 Class A1 Noteholders, the
Series 1 Class A2 Noteholders and the Series 1 Class A3 Noteholders or any of
them;

"Series 1 Class A1 Noteholders" means the holders for the time being of the
Series 1 Class A1 Notes;

"Series 1 Class A2 Noteholders" means the holders for the time being of the
Series 1 Class A2 Notes;

"Series 1 Class A3 Noteholders" means the holders for the time being of the
Series 1 Class A3 Notes;

"Series 1 Class A Notes" means the Series 1 Class A1 Notes and the Series 2
Class A2 Notes or any of them;

"Series 1 Class A1 Notes" means the notes comprising the $750,000,000 Floating
Rate Notes due January 2019 constituted by the Current Issuer Trust Deed in or
substantially in the forms set out in Schedules 1 and 2 thereto and for the
time being outstanding or, as the case may be, a specific number thereof and
including any replacement Series 1 Class A1 Notes issued pursuant to Condition
13 and (except for the purposes of Clause 3.1 (Global Note Certificates) and
Clause 3.2 (Forms of Global

                                      23
<PAGE>

Note Certificates) of the Current Issuer Trust Deed) the Series 1 Class A1
Global Note Certificate for so long as it has not been exchanged in accordance
with the terms thereof;

"Series 1 Class A2 Notes" means the notes comprising the $750,000,000 Floating
Rate Notes due January 2024 constituted by the Current Issuer Trust Deed in or
substantially in the forms set out in Schedules 1 and 2 thereto and for the
time being outstanding or, as the case may be, a specific number thereof and
including any replacement Series 1 Class A2 Notes issued pursuant to Condition
13 and (except for the purposes of Clause 3.1 (Global Note Certificates) and
Clause 3.2 (Forms of Global Note Certificates) of the Current Issuer Trust
Deed) the Series 1 Class A2 Global Note Certificate for so long as it has not
been exchanged in accordance with the terms thereof;

"Series 1 Class A3 Notes" means the notes comprising the $500,000,000 Floating
Rate Notes due January 2044 constituted by the Current Issuer Trust Deed in or
substantially in the forms set out in Schedules 1 and 2 thereto and for the
time being outstanding or, as the case may be, a specific number thereof and
including any replacement Series 1 Class A3 Notes issued pursuant to Condition
13 and (except for the purposes of Clause 3.1 (Global Note Certificates) and
Clause 3.2 (Forms of Global Note Certificates) of the Current Issuer Trust
Deed) the Series 1 Class A3 Global Note Certificate for so long as it has not
been exchanged in accordance with the terms thereof;

"Series 1 Class B Dollar Currency Swap" means, in relation to the Current
Issuer, the Sterling-Dollar currency swap transaction, which enables the
Current Issuer to receive and pay amounts under the Current Issuer
Intercompany Loan in Sterling and to receive and pay amounts under the Series
1 Class B Notes in Dollars;

"Series 1 Class B Dollar Currency Swap Provider" means the Current Issuer
Dollar Currency Swap Provider;

"Series 1 Class B Global Note Certificate" means the Global Note Certificate
to be issued in respect of the Series 1 Class B Notes pursuant to Clause 3.1
(Global Note Certificates) of the Current Issuer Trust Deed in the form or
substantially in the form set out in Schedule 1 of the Current Issuer Trust
Deed;

"Series 1 Class B Noteholders" means the holders for the time being of the
Series 1 Class B Notes;

"Series 1 Class B Notes" means the notes comprising the $72,000,000 Floating
Rate Notes due January 2044 constituted by the Current Issuer Trust Deed in or
substantially in the forms set out in Schedules 1 and 2 thereto and for the
time being outstanding or, as the case may be, a specific number thereof and
including any replacement Series 1 Class B Notes issued pursuant to Condition
13 and (except for the purposes of Clause 3.1 (Global Note Certificates) and
Clause 3.2 (Form of Global Note Certificates) of the Current Issuer Trust
Deed) the Series 1 Class B Global Note Certificate for so long as it has not
been exchanged in accordance with the terms thereof;

"Series 1 Class M Dollar Currency Swap" means, in relation to the Current
Issuer, the Sterling-Dollar currency swap transaction, which enables the
Current Issuer to receive and pay amounts under the Current Issuer
Intercompany Loan in Sterling and to receive and pay amounts under the Series
1 Class M Notes in Dollars;

"Series 1 Class M Dollar Currency Swap Provider" means the Current Issuer
Dollar Currency Swap Provider;

"Series 1 Class M Global Note Certificate" means the Global Note Certificate
to be issued in respect of the Series 1 Class M Notes pursuant to Clause 3.1
(Global Note Certificates) of the Current Issuer

                                      24
<PAGE>

Trust Deed in the form or substantially in the form set out in Schedule 1 of
the Current Issuer Trust Deed;

"Series 1 Class M Noteholders" means the holders for the time being of the
Series 1 Class M Notes;

"Series 1 Class M Notes" means the notes comprising the $27,000,000 Floating
Rate Notes due January 2044 constituted by the Current Issuer Trust Deed in or
substantially in the forms set out in Schedules 1 and 2 thereto and for the
time being outstanding or, as the case may be, a specific number thereof and
includes any replacement Series 1 Class M Notes issued pursuant to Condition
13 and (except for the purposes of Clause 3.1 (Global Note Certificates) and
Clause 3.2 (Forms of Global Note Certificates) of the Current Issuer Trust
Deed) the Series 1 Class M Global Note Certificate for so long as it has not
been exchanged in accordance with the terms thereof;

"Series 1 Class C Dollar Currency Swap" means, in relation to the Current
Issuer, the Sterling-Dollar currency swap transaction, which enables the
Current Issuer to receive and pay amounts under the Current Issuer
Intercompany Loan in Sterling and to receive and pay amounts under the Series
1 Class C Notes in Dollars;

"Series 1 Class C Dollar Currency Swap Provider" means the Current Issuer
Dollar Currency Swap Provider;

"Series 1 Class C Global Note Certificate" means the Global Note Certificate
to be issued in respect of the Series 1 Class C Notes pursuant to Clause 3.1
(Global Note Certificates) of the Current Issuer Trust Deed in the form or
substantially in the form set out in Schedule 1 of the Current Issuer Trust
Deed;

"Series 1 Class C Noteholders" means the holders for the time being of the
Series 1 Class C Notes;

"Series 1 Class C Notes" means the notes comprising the $50,000,000 Floating
Rate Notes due January 2044 constituted by the Current Issuer Trust Deed in or
substantially in the forms set out in Schedules 1 and 2 thereto and for the
time being outstanding or, as the case may be, a specific number thereof and
includes any replacement Series 1 Class C Notes issued pursuant to Condition
13 and (except for the purposes of Clause 3.1 (Global Note Certificates) and
Clause 3.2 (Forms of Global Note Certificates) of the Current Issuer Trust
Deed) the Series 1 Class C Global Note Certificate for so long as it has not
been exchanged in accordance with the terms thereof;

"Series 1 Global Note Certificates" means collectively the Series 1 Class A
Global Note Certificates, the Series 1 Class B Global Note Certificate, the
Series 1 Class M Global Note Certificate and the Series 1 Class C Global Note
Certificate and "Series 1 Global Note Certificate" means any one of them;

"Series 1 Notes" means collectively the Series 1 Class A Notes, the Series 1
Class B Notes, the Series 1 Class M Notes and the Series 1 Class C Notes;

"Series 2 Class A Euro Currency Swap" means, in relation to the Current
Issuer, the Sterling-Euro currency swap transaction which enables the Current
Issuer to receive and pay amounts under the Current Issuer Intercompany Loan
in Sterling and to receive and pay amounts under the Series 2 Class A Notes in
Euro;

"Series 2 Class A Euro Currency Swap Provider" means the Current Issuer Euro
Currency Swap Provider;

                                      25
<PAGE>

"Series 2 Class A Global Note Certificate" means the Global Note Certificate
to be issued in respect of the Series 2 Class A Notes pursuant to Clause 3.1
(Global Note Certificates) of the Current Issuer Trust Deed in the form or
substantially in the form set out in Schedule 1 of the Current Issuer Trust
Deed;

"Series 2 Class A Noteholders" means the holders for the time being of the
Series 2 Class A Notes;

"Series 2 Class A Notes" means the notes comprising the (Euro)640,000,000
Floating Rate Notes due January 2044 constituted by the Current Issuer Trust
Deed in or substantially in the forms set out in Schedules 1 and 2 thereto and
for the time being outstanding or, as the case may be, a specific number
thereof and including any replacement Series 2 Class A Notes issued pursuant
to Condition 13 and (except for the purposes of Clause 3.1 (Global Note
Certificates) and Clause 3.2 (Forms of Global Note Certificates) of the
Current Issuer Trust Deed) the Series 2 Class A Global Note Certificate for so
long as it has not been exchanged in accordance with the terms thereof;

"Series 2 Class B Euro Currency Swap" means, in relation to the Current
Issuer, the Sterling-Euro currency swap transaction which enables the Current
Issuer to receive and pay amounts under the Current Issuer Intercompany Loan
in Sterling and to receive and pay amounts under the Series 2 Class B Notes in
Euro;

"Series 2 Class B Euro Currency Swap Provider" means the Current Issuer Euro
Currency Swap Provider;

"Series 2 Class B Global Note Certificate" means the Global Note Certificate
to be issued in respect of the Series 2 Class B Notes pursuant to Clause 3.1
(Global Note Certificates) of the Current Issuer Trust Deed in the form or
substantially in the form set out in Schedule 1 of the Current Issuer Trust
Deed;

"Series 2 Class B Noteholders" means the holders for the time being of the
Series 2 Class B Notes;

"Series 2 Class B Notes" means the notes each comprising the (Euro)23,000,000
Floating Rate Notes due January 2044 constituted by the Current Issuer Trust
Deed in or substantially in the forms set out in Schedules 1 and 2 thereto and
for the time being outstanding or, as the case may be, a specific number
thereof and including any replacement Series 2 Class B Notes issued pursuant
to Condition 13 and (except for the purposes of Clause 3.1 (Global Note
Certificates) and Clause 3.2 (Forms of Global Note Certificates) of the
Current Issuer Trust Deed) the Series 2 Class B Global Note Certificate for so
long as it has not been exchanged in accordance with the terms thereof;

"Series 2 Class M Euro Currency Swap" means, in relation to the Current
Issuer, the Sterling-Euro currency swap transaction which enables the Current
Issuer to receive and pay amounts under the Current Issuer Intercompany Loan
in Sterling and to receive and pay amounts under the Series 2 Class M Notes in
Euro;

"Series 2 Class M Euro Currency Swap Provider" means the Current Issuer Euro
Currency Swap Provider;

"Series 2 Class M Global Note Certificate" means the Global Note Certificate
to be issued in respect of the Series 2 Class M Notes pursuant to Clause 3.1
(Global Note Certificates) of the Current Issuer Trust Deed in the form or
substantially in the form set out in Schedule 1 of the Current Issuer Trust
Deed;

"Series 2 Class M Noteholders" means the holders for the time being of the
Series 2 Class M Notes;

                                      26
<PAGE>

"Series 2 Class M Notes" means the notes each comprising the (Euro)7,500,000
Floating Rate Notes due January 2044 constituted by the Current Issuer Trust
Deed in or substantially in the forms set out in Schedules 1 and 2 thereto and
for the time being outstanding or, as the case may be, a specific number
thereof and including any replacement Series 2 Class M Notes issued pursuant
to Condition 13 and (except for the purposes of Clause 3.1 (Global Note
Certificates) and Clause 3.2 (Forms of Global Note Certificates) of the
Current Issuer Trust Deed) the Series 2 Class M Global Note Certificate for so
long as it has not been exchanged in accordance with the terms thereof;

"Series 2 Class C Euro Currency Swap" means, in relation to the Current
Issuer, the Sterling-Euro currency swap transaction which enables the Current
Issuer to receive and pay amounts under the Current Issuer Intercompany Loan
in Sterling and to receive and pay amounts under the Series 2 Class C Notes in
Euro;

"Series 2 Class C Euro Currency Swap Provider" means the Current Issuer Euro
Currency Swap Provider;

"Series 2 Class C Global Note Certificate means the Global Note Certificate to
be issued in respect of the Series 2 Class C Notes pursuant to Clause 3.1
(Global Note Certificates) of the Current Issuer Trust Deed in the form or
substantially in the form set out in Schedule 1 of the Current Issuer Trust
Deed;

"Series 2 Class C Noteholders" means the holders for the time being of the
Series 2 Class C Notes;

"Series 2 Class C Notes" means the notes comprising the (Euro)55,000,000
Floating Rate Notes due January 2044 constituted by the Current Issuer Trust
Deed in or substantially in the forms set out in Schedules 1 and 2 thereto and
for the time being outstanding or, as the case may be, a specific number
thereof and including any replacement Series 2 Class C Notes issued pursuant
to Condition 13 and (except for the purposes of Clause 3.1 (Global Note
Certificates) and Clause 3.2 (Forms of Global Note Certificates) of the
Current Issuer Trust Deed) the Series 2 Class C Global Note Certificate for so
long as it has not been exchanged in accordance with the terms thereof;

"Series 2 Global Note Certificates" means collectively the Series 2 Class A
Global Note Certificate, the Series 2 Class B Global Note Certificate, the
Series 2 Class M Global Note Certificate and the Series 2 Class C Global Note
Certificate and "Series 2 Global Note Certificate" means any one of them;

"Series 2 Notes" means collectively the Series 2 Class A Notes, the Series 2
Class B Notes, the Series 2 Class M Notes and the Series 2 Class C Notes;

"Series 3 Class A Global Note Certificate" means the Global Note Certificate
to be issued in respect of the Series 3 Class A Notes pursuant to Clause 3.1
(Global Note Certificates) of the Current Issuer Trust Deed in the form or
substantially in the form set out in Schedule 1 of the Current Issuer Trust
Deed;

"Series 3 Class A Noteholders" means the holders for the time being of the
Series 3 Class A Notes;

"Series 3 Class A Notes" means the notes comprising the (GBP)340,000,000
Floating Rate Notes due January 2044 constituted by the Current Issuer Trust
Deed in or substantially in the forms set out in Schedules 1 and 2 thereto and
for the time being outstanding or, as the case may be, a specific number
thereof and including any replacement Series 3 Class A Notes issued pursuant
to Condition 13 and (except for the purposes of Clause 3.1 (Global Note
Certificates) and Clause 3.2 (Forms of Global

                                      27
<PAGE>

Note Certificates) of the Current Issuer Trust Deed) the Series 3 Class A
Global Note Certificate for so long as it has not been exchanged in accordance
with the terms thereof;

"Series 3 Class B Global Note Certificate" means the Global Note Certificate
to be issued in respect of the Series 3 Class B Notes pursuant to Clause 3.1
(Global Note Certificates) of the Current Issuer Trust Deed in the form or
substantially in the form set out in Schedule 1 of the Current Issuer Trust
Deed;

"Series 3 Class B Noteholders" means the holders for the time being of the
Series 3 Class B Notes;

"Series 3 Class B Notes" means the notes comprising the (GBP)28,500,000
Floating Rate Notes due January 2044 constituted by the Current Issuer Trust
Deed in or substantially in the forms set out in Schedules 1 and 2 thereto and
for the time being outstanding or, as the case may be, a specific number
thereof and including any replacement Series 3 Class B Notes issued pursuant
to Condition 13 and (except for the purposes of Clause 3.1 (Global Note
Certificates) and Clause 3.2 (Forms of Global Note Certificates) of the
Current Issuer Trust Deed) the Series 3 Class B Global Note Certificate for so
long as it has not been exchanged in accordance with the terms thereof;

"Series 3 Class M Global Note Certificate" means the Global Note Certificate
to be issued in respect of the Series 3 Class M Notes pursuant to Clause 3.1
(Global Note Certificates) of the Current Issuer Trust Deed in the form or
substantially in the form set out in Schedule 1 of the Current Issuer Trust
Deed;

"Series 3 Class M Noteholders" means the holders for the time being of the
Series 3 Class M Notes;

"Series 3 Class M Notes" means the notes comprising the (GBP)11,500,000
Floating Rate Notes due January 2044 constituted by the Current Issuer Trust
Deed in or substantially in the forms set out in Schedules 1 and 2 thereto and
for the time being outstanding or, as the case may be, a specific number
thereof and including any replacement Series 3 Class M Notes issued pursuant
to Condition 13 and (except for the purposes of Clause 3.1 (Global Note
Certificates) and Clause 3.2 (Forms of Global Note Certificates) of the
Current Issuer Trust Deed) the Series 3 Class M Global Note Certificate for so
long as it has not been exchanged in accordance with the terms thereof;

"Series 3 Class C Global Note Certificate means the Global Note Certificate to
be issued in respect of the Series 3 Class C Notes pursuant to Clause 3.1
(Global Note Certificates) of the Current Issuer Trust Deed in the form or
substantially in the form set out in Schedule 1 of the Current Issuer Trust
Deed;

"Series 3 Class C Noteholders" means the holders for the time being of the
Series 3 Class C Notes;

"Series 3 Class C Notes" means the notes comprising the (GBP)7,500,000
Floating Rate Notes due January 2044 constituted by the Current Issuer Trust
Deed in or substantially in the forms set out in Schedules 1 and 2 thereto and
for the time being outstanding or, as the case may be, a specific number
thereof and including any replacement Series 3 Class C Notes issued pursuant
to Condition 13 and (except for the purposes of Clause 3.1 (Global Note
Certificates) and Clause 3.2 (Forms of Global Note Certificates) of the
Current Issuer Trust Deed) the Series 3 Class C Global Note Certificate for so
long as it has not been exchanged in accordance with the terms thereof;

"Series 3 Global Note Certificates" means collectively the Series 3 Class A
Global Note Certificate, the Series 3 Class B Global Note Certificate, the
Series 3 Class M Global Note Certificate and the Series 3 Class C Global Note
Certificate and "Series 3 Global Note Certificate" means any one of them;

                                      28
<PAGE>

"Series 3 Notes" means collectively the Series 3 Class A Notes, the Series 3
Class B Notes, the Series 3 Class M Notes and the Series 3 Class C Notes;

"Specified Office" means, as the context may require, in relation to any of
the Agents, the office specified against the name of such Agent in the Current
Issuer Paying Agent and Agent Bank Agreement or such other specified notice as
may be notified to the Current Issuer and the Note Trustee pursuant to the
Current Issuer Paying Agent and Agent Bank Agreement;

"Step-up Date" means the Payment Date in respect of an Issuer on which the
interest rate on the Notes issued by such Issuer increases by a pre-determined
amount following the payment made by such Issuer on such Payment Date, which
date in respect of the Current Issuer is the Payment Date occurring in January
2009;

"Sterling Global Note Certificates" means the Global Note Certificates issued
in respect of the Sterling Notes and the "Sterling Global Note Certificate"
means any one of them;

"Sterling Notes" means, in relation to the Current Issuer, the Series 3 Notes
and, in relation to any other Issuer, the Notes issued by such Issuer in
Sterling;

"Subordinated Principal Test":

(a)      in respect of the Current Issuer Notes, means the test which is
         satisfied (1) on any Payment Date occurring on or after the fourth
         anniversary of the Closing Date; and (2) on any Payment Date on which
         the percentage equal to the aggregate Principal Amount Outstanding of
         the Class B Notes, the Class M Notes and the Class C Notes as at that
         Payment Date over the aggregate Principal Amount Outstanding of the
         Current Issuer Notes as at that Payment Date is greater than the
         product of (i) 2 and (ii) the percentage equal to the aggregate
         Principal Amount Outstanding of the Class B Notes, the Class M Notes
         and the Class C Notes as at the Closing Date over the aggregate
         Principal Amount Outstanding of the Current Issuer Notes as at the
         Closing Date;

(b)      in respect of any Previous Issuer Notes, has the meaning given to it
         in the Issuer Master Definitions Schedule relating to that Previous
         Issuer; or

(c)      in respect of any New Notes issued by any New Issuer, has the meaning
         given to it in the Issuer Master Definitions Schedule relating to
         that New Issuer;

"Swap Collateral" means any asset (including, without limitation, Cash and/or
securities) paid or transferred to the Current Issuer by a Current Issuer Swap
Provider in accordance with the terms of the relevant Current Issuer Swap
Agreement as collateral to secure the performance of that Current Issuer Swap
Provider's obligations under the relevant Current Issuer Swap Agreement
together with any income or distributions received in respect of such asset
and any equivalent of or replacement of such asset into which such asset is
transformed;

"Swap Collateral Accounts" means the Swap Collateral Cash Account and the Swap
Collateral Securities Account;

"Swap Collateral Ancillary Document" means any document (including, without
limitation, any custodial agreement or bank account agreement but excluding
the Current Issuer Swap Agreements,

                                      29
<PAGE>

the Current Issuer Cash Management Agreement and the Current Issuer Deed of
Charge) as may be entered into by the Issuer from to time in connection with
Swap Collateral;

"Swap Collateral Available Principal Amount" means, at any time, the amount of
Swap Collateral which under the terms of the relevant Current Issuer Swap
Agreement may be applied at that time in satisfaction of the relevant Current
Issuer Swap Provider's obligations to the Current Issuer to the extent that
such obligations relate to payments to be made in connection with the Current
Issuer Pre-Enforcement Principal Priority of Payments or Current Issuer
Post-Enforcement Priority of Payments, as the case may be;

"Swap Collateral Available Revenue Amount" means, at any time, the amount of
Swap Collateral which under the terms of the relevant Current Issuer Swap
Agreement may be applied at that time in satisfaction of the relevant Current
Issuer Swap Provider's obligations to the Current Issuer to the extent that
such obligations relate to payments to be made in connection with the Current
Issuer Pre-Enforcement Revenue Priority of Payments or Current Issuer
Post-Enforcement Priority of Payments, as the case may be;

"Swap Collateral Cash Account" means an account opened in the name of the
Current Issuer for the purpose of holding Swap Collateral in Cash and
maintained in accordance with the terms of the Current Issuer Cash Management
Agreement;

"Swap Collateral Excluded Amount" means, at any time, the amount of Swap
Collateral which may not be applied at that time in satisfaction of the
relevant Current Issuer Swap Provider's obligations to the Current Issuer
under the terms of the relevant Current Issuer Swap Agreement;

"Swap Collateral Ledger" means the ledger and any sub-ledgers maintained by
the Current Issuer Cash Manager in the books of the Current Issuer in
accordance with Clause 5.6 (Posted Collateral) of the Current Issuer Cash
Management Agreement;

"Swap Collateral Securities Account" means a securities account opened in the
name of the Current Issuer for the purpose of holding Swap Collateral in the
form of securities and maintained in accordance with the terms of the Current
Issuer Cash Management Agreement;

"Swap Provider Amount" has the meaning given to it in the Current Issuer Basis
Rate Swap Agreement;

"Swap Replacement Payment" means any amount received by the Current Issuer
from a replacement to any of the Current Issuer Swap Providers upon entry by
the Current Issuer into an agreement with such replacement swap provider
replacing a Current Issuer Swap Agreement which has terminated following the
occurrence of a Downgrade Termination Event;

"Tax Credit" has the meaning, where applicable, given to it in each Current
Issuer Swap Agreement;

"Telerate Page No. 3750" means the display designated as Page 3750 on the
Dow-Jones/Telerate Monitor Service (or such other page as may replace Telerate
Page No. 3750 on that service or such other service as may be nominated by the
British Bankers' Association (including the Reuters Screen) as the information
vendor for the purposes of displaying British Bankers' Association Interest
Settlement Rates for deposits in the currency concerned);

"Three Month LIBOR" has the meaning given to it in the Current Issuer Basis
Rate Swap Agreement;

"Transaction Document" means any of the following documents:

                                      30
<PAGE>

(a) the Mortgages Trust Deed;

(b) the Mortgage Sale Agreement;

(c) the Funding Deed of Charge;

(d) the Administration Agreement;

(e) the Cash Management Agreement;

(f) the Funding Guaranteed Investment Contract;

(g) the Mortgages Trustee Guaranteed Investment Contract;

(h) the Bank Account Agreement;

(i) the Collection Bank Agreement;

(j) the Share Trust Deed;

(k) Corporate Services Agreement; and

(l) Current Issuer Transaction Documents;

"Transfer Agent" means Citibank, N.A., acting through its Specified Office at
5 Carmelite Street, London EC4Y 0PA, and initially appointed by the Current
Issuer under the Current Issuer Paying Agent and Agent Bank Agreement to
administer the transfer of Current Issuer Notes, or such other person for the
time being acting as Transfer Agent under the Current Issuer Paying Agent and
Agent Bank Agreement;

"Trust Deed" means, in relation to the Current Issuer, the Current Issuer
Trust Deed and, in relation to any other Issuer, the trust deed entered into
on the relevant Closing Date constituting the Notes issued by such Issuer;

"Trustee Acts" means both the Trustee Act 1925 and the Trustee Act 2000 of
England and Wales;

"Underwriters" means, in relation to the US Notes issued by the Current
Issuer, Lehman Brothers Inc., Merrill Lynch, Pierce, Fenner & Smith
Incorporated, Citigroup Global Markets Inc., J.P. Morgan Securities Inc. and
UBS Securities LLC;

"US Notes" means, in relation to the Current Issuer, the Series 1 Notes;

"US Paying Agent" means Citibank N.A. acting through its New York office as
paying agent in the United States of America;

"Variable Rate Ratio" has the meaning given to it in the Current Issuer Basis
Rate Swap Agreement;

"Variable Rate Spread" has the meaning given to it in the Current Issuer Basis
Rate Swap Agreement;

"Variable Rate Swap SVR" has the meaning given to it in the Current Issuer
Basis Rate Swap Agreement; and

"Weighted Average Fixed Rate" has the meaning given to it in the Current
Issuer Basis Rate Swap Agreement.

                                      31
<PAGE>

2.       Interpretation and Construction

Any reference in this Issuer Master Definitions Schedule or any Transaction
Document to:

         "agreed form" means, in relation to any document, the draft of that
         document the form of which has been agreed between the parties
         thereto (or if such document is delivered pursuant to another
         Transaction Document, between the parties to such Transaction
         Document) and initialled on their behalf for the purpose of
         identification;

         the "assets" of any person shall be construed as a reference to the
         whole or any part of its business, undertakings, property,
         intellectual property, shares, securities, debts, accounts, revenues
         (including any right to receive revenues), goodwill, shareholdings
         and uncalled capital including premium whether now or hereafter
         acquired and any other assets whatsoever;

         "disposal" shall be construed as any sale, lease, transfer,
         conveyance, assignment, assignation, licence, sub-licence or other
         disposal and "dispose" shall be construed accordingly;

         a "guarantee" means any guarantee, bond, indemnity, letter of credit,
         third party security or other legally binding assurance against
         financial loss granted by one person in respect of any indebtedness
         of another person, or any agreement to assume any indebtedness of any
         other person or to supply funds or to invest in any manner whatsoever
         in such other person by reason of, or otherwise in relation to,
         indebtedness of such other person;

         "indebtedness" shall be construed so as to include any obligation
         (whether incurred as principal or as surety) for the payment or
         repayment of money, whether present or future, actual or contingent;

         a "month" is a reference to a period starting on one day in a
         calendar month and ending on the numerically corresponding day in the
         next calendar month save that, where any such period would otherwise
         end on a day which is not a business day, it shall end on the next
         business day, unless that day falls in the calendar month succeeding
         that in which it would otherwise have ended, in which case it shall
         end on the preceding business day, provided that, if a period starts
         on the last business day in a calendar month or if there is no
         numerically corresponding day in the month in which that period ends,
         that period shall end on the last business day in that later month
         (and references to "months" shall be construed accordingly);

         "party" shall be construed as a party to a particular agreement, as
         the case may be;

         "subsidiary" means, (a) a subsidiary within the meaning of Section
         736 of the Companies Act 1985, and (b) unless the context requires
         otherwise, a subsidiary undertaking within the meaning of Section 258
         of the Companies Act 1985;

         "VAT" means value added tax imposed by the United Kingdom as referred
         to in the Value Added Tax Act 1994 and legislation (whether delegated
         or otherwise) replacing the same or supplemental thereto or in any
         primary or subordinate legislation promulgated by the European Union
         or any official body or agency thereof, and any similar turnover tax
         replacing or introduced in addition to any of the same;

                                      32
<PAGE>

         a "wholly-owned subsidiary" of a company or corporation shall be
         construed as a reference to any company or corporation which has no
         other members except that other company or corporation and that other
         company's or corporation's wholly-owned subsidiaries or persons
         acting on behalf of that other company or corporation or its
         wholly-owned subsidiaries; and

         the "winding-up" or "administration" of a company or corporation
         shall be construed so as to include any equivalent or analogous
         proceedings under the law of the jurisdiction in which such company
         or corporation is incorporated or any jurisdiction in which such
         company or corporation carries on business including the seeking of
         liquidation, winding-up, bankruptcy, reorganisation, dissolution,
         administration, arrangement, adjustment, protection or relief of
         debtors.

2.1      "(GBP)", "sterling", "Sterling" or "pounds sterling" denotes the
         lawful currency for the time being of the United Kingdom of Great
         Britain and Northern Ireland; "(Euro)", "euro" or "Euro" denotes the
         lawful currency for the time being of the member states of the
         European Union that adopt the single currency introduced at the start
         of the third stage of European Economic Monetary Union pursuant to
         the Treaty of Rome of 25th March, 1957, establishing the European
         Community as amended from time to time and as amended by, inter alia,
         the Treaty of European Union of 7th February, 1992; "$", "US$", "US
         dollars", "dollars" or "Dollars" denotes the lawful currency for the
         time being of the United States of America.

2.2      In this Issuer Master Definitions Schedule and in any of the
         Transaction Documents in which this Issuer Master Definitions
         Schedule is expressed to be incorporated or to which this Issuer
         Master Definitions Schedule is expressed to apply:

         (a)      words denoting the singular number only shall include the
                  plural number also and vice versa;

         (b)      words denoting one gender only shall include the other
                  genders;

         (c)      words denoting persons only shall include firms and
                  corporations and vice versa;

         (d)      references to any statutory provision shall be deemed also
                  to refer to any statutory modification or re-enactment
                  thereof or any statutory instrument, order or regulation
                  made thereunder or under any such re-enactment;

         (e)      references to any agreement or other document (including any
                  of the Transaction Documents) shall be deemed also to refer
                  to such agreement or document as amended, varied,
                  supplemented or novated from time to time;

         (f)      clause, paragraph and schedule headings are for ease of
                  reference only;

         (g)      reference to a statute shall be construed as a reference to
                  such statute as the same may have been, or may from time to
                  time be, amended or re-enacted to the extent such amendment
                  or re-enactment is substantially to the same effect as such
                  statute on the date hereof;

         (h)      unless stated otherwise reference to a time of day shall be
                  construed as a reference to London (GMT) time; and

         (i)      references to any person shall include references to his
                  successors, transferees and assigns and any person deriving
                  title under or through him.

                                      33
<PAGE>

2.3      Save as provided otherwise, where any obligation in a Transaction
         Document is owed to more than one party that obligation is owed to
         each of them separately and may be enforced by any of them.

2.4      Where a term is used but not defined in this Issuer Master
         Definitions Schedule, that term shall have the meaning indicated in
         the Master Definitions Schedule.

3.       Governing Law

This Issuer Master Definitions Schedule is governed by, and shall be construed
in accordance with, the laws of England.

                                      34
<PAGE>

                                  SCHEDULE 1

                            STANDARD DOCUMENTATION

         Part 1 Documents Used in the Origination of any Mortgage Type
<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------------------------------------------
SABW       Document                                          Reference                      Usage period and notes
------------------------------------------------------------------------------------------------------------------------------------
<S>        <C>                                               <C>                            <C>
A          Mortgage Brochures
------------------------------------------------------------------------------------------------------------------------------------
A1         Hard to beat - Mortgages - An Introduction        Dev 3  1.6.95                  From 1 Jun 1995 to Apr 1997
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
A2         Hard to Beat - Keeping the Benefits Once Your     DEV 93                         From 19 Jun 1995
           Mortgage Ends                                     19.06.1995
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
A3         Mortgages - A guide to costs                      Dev 143 1.7.95                 From 1 Jul 1995 to Jul 1995
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
A4         Mortgages - A guide to costs                      Dev 143  14.7.95               From 14 Jul 1995 to Sep 1995
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
A5         Mortgages - A guide to costs                      Dev 143  4.9.95                From 4 Sep 1995 to Nov 1995
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
A6         Mortgages - A guide to costs                      Dev 143 30.11.95               From 30 Nov 1995 to Dec 1995
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
A7         Mortgages - A guide to costs                      Dev 143 13.12.95               From 13 Dec 1995 to Mar 1996
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
A8         Mortgages - A guide to costs                      Dev 143 8.3.96                 From 8 Mar 1996 to Jun 1996
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
A9         Mortgages - A guide to costs                      Dev 143 10.6.96                From 10 Jun 1996 to Feb 1997
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
A10        Hard to Beat - Keeping the Benefits Once Your     DEV 93                         From 1 Sept 1996
           Mortgage Ends                                     01.9.1996
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
A11        Mortgages - A guide to costs                      Dev 143 11.2.97                From 11 Feb 1997 to Mar 1997
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
A12        You and your mortgage - The Mortgage Code
           [Introductory leaflet]
------------------------------------------------------------------------------------------------------------------------------------
A13        The Mortgage Code                                 First Edition: March 1997      From Mar 1997
------------------------------------------------------------------------------------------------------------------------------------
A14        Mortgages - A guide to costs                      Dev 143 27.3.97                From 27 Mar 1997 to May 1997
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
A15        Hard to beat - Mortgages - An Introduction        Dev 3  10.4.97                 From 10 Apr 1997 to Jul 1997
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
A16        Mortgages - A guide to costs                      Dev 143 6.5.97                 From 6 May 1997 to Jul 1997
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
A17        Hard to beat - Mortgages - An Introduction        Dev 3  1.7.97                  From 1 Jul 1997 to Oct 1997
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
A18        Mortgages - A guide to costs - Hard to Beat       Dev 143 11.7.97                From 11 Jul 1997 to Oct 1997
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------

                                      35
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
SABW       Document                                          Reference                      Usage period and notes
------------------------------------------------------------------------------------------------------------------------------------
A19        Hard to beat - Mortgages - An Introduction        MAR 1  1.10.97                 From 1 Oct 1997 to Dec 1997
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A20        Mortgages - A guide to costs - Hard to Beat       MAR 2 1.10.97                  From 1 Oct 1997 to Nov 1997
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A21        Hard to Beat - Keeping the Benefits Once Your     MAR 9                          From 1 Oct 1997
           Mortgage Ends                                     01.10.1997
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A22        Mortgages - A guide to costs - Hard to Beat       MAR 2 12.11.97                 From 12 Nov 1997 to Feb 1998
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A23        Hard to beat - Mortgages - An Introduction        MAR 1 15.12.97                 From 15 Dec 1997 to Feb 1998
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A24        Hard to beat - Mortgages - An Introduction        MAR 1  12.2.98                 From 12 Feb 1998 to Oct 1998
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A25        Mortgages - A guide to costs - Hard to Beat       MAR 2 12.2.98                  From 12 Feb 1998 to Jun 1998
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A26        Hard to Beat - Keeping the Benefits Once Your     MAR 9                          From 12 Feb 1998
           Mortgage Ends                                     12.2.1998
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A27        The Mortgage Code                                 Second Edition: April 1998     From Apr 1998
------------------------------------------------------------------------------------------------------------------------------------
A28        Mortgages - A guide to costs - Hard to Beat       MAR 2/8267 17.6.98             From 17 Jun 1998 to Oct 1998
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A29        Hard to Beat - Keeping the Benefits Once Your     MAR 9/8375                     From 1 Aug 1998
           Mortgage Ends                                     01.8.1998
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A30        Mortgages - A guide to costs - Hard to Beat       MAR 2/8528 8.10.98             From 8 Oct 1998 to Nov 1998
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A31        Hard to beat - Mortgages - An Introduction        MAR 1 23.10.98                 From 23 Oct 1998 to Feb 1999
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A32        Mortgages - A guide to costs - Hard to Beat       MAR 2/8600 5.11.98             From 5 Nov 1998 to Jan 1999
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A33        Mortgages - A guide to costs - Hard to Beat       MAR 2/8729 7.1.99              From 7 Jan 1999 to Feb 1999
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A34        Mortgages - A guide to costs - Hard to Beat       MAR 2/8789 4.2.99              From 4 Feb 1999 to Apr 1999
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A35        Mortgages - An Introduction                       MAR 1  25.2.99                 From 25 Feb 1999 to Jun 1999
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A36        Mortgages - A guide to costs - Hard to Beat       MAR 2/8923 13.4.99             From 13 Apr 1999 to Jun 1999
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A37        Mortgages - the details                           MAR 23/8958 16.6.99            From 16 Jun 1999 to Jan 2000
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A38        Mortgages - the costs                             MAR 244/8958 16.6.99           From 16 Jun 1999 to Jun 1999
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A39        Mortgages - the costs                             MAR 244/9115 28.6.99           From 28 Jun 1999 to Nov 1999
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A40        Mortgages - the costs                             MAR 244/9489 9.11.99           From 9 Nov 1999 to Jan 2000
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A41        Mortgages - the details                           MAR 235/9611 4.1.2000          From 4 Jan 2000 to May 2000
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------

                                      36
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
SABW       Document                                          Reference                      Usage period and notes
------------------------------------------------------------------------------------------------------------------------------------
A42        Mortgages - the costs                             MAR 244/9679 17.1.2000         From 17 Jan 2000 to Mar 2000
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A43        Be straight with me - Mortgage costs in black     MAR 244/9815 4.3.2000          From 4 Mar 2000 to Apr 2000
           and white
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A44        Safe & Sure - Keeping the Benefits Once Your      MAR 9/9895                     From 14 Mar 2000
           Mortgage Ends                                     14.3.2000
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A45        Be straight with me - Mortgage costs in black     MAR 244/10029 27.4.2000        From 27 Apr 2000 to Jan 2001
           and white
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A46        Give me the facts - Mortgage details explained    MAR 235/9666 and 5.2000        From 1 May 2000 to Oct 2000
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A47        Give me a choice - Mortgage deals to suit         MAR 236/10198 and 28.6.2000    From 28 Jun 2000 to Aug 2000
           everyone
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A48        Give me a choice - Mortgage deals to suit         MAR 236/10332 4.8.2000         From 4 Aug 2000
           everyone
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A49        Give me the facts - Mortgage details explained    MAR 235/10554 and 10.2000      From Oct 2000 to Jan 2001
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A50        Give me the facts                                 MAR 235/10899                  From 10 Jan 2001 to Sep 2001
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A51        Be straight with me - Mortgage costs in black     MAR 244/10868 10.1.2001        From 10 Jan 2001 to Feb 2001
           and white
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A52        Be straight with me - Mortgage costs in black     MAR 244/10998 8.2.2001         From 8 Feb 2001 to Apr 2001
           and white
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A53        Be straight with me - Mortgage costs in black     MAR 244/11170 5.4.2001         From 5 Apr 2001 to May 2001
           and white
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A54        Be straight with me - Mortgage costs in black     MAR 244/11281 10.5.2001        From 10 May 2001 to Aug 2001
           and white
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A55        Be straight with me - Mortgage costs in black     MAR 244/11592 2.8.2001         From 2 Aug 2001 to Sep 2001
           and white
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A56        Give me the facts                                 MAR 235/11679 3.9.2001         From 3 Sep 2001
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A57        Be straight with me - Mortgage costs in black     MAR 244/11592 3.9.2001         From 3 Sep 2001 to Sep 2001
           and white
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A58        Be straight with me - Mortgage costs in black     MAR 244/11807 19.9.2001        From 19 Sep 2001 to Oct 2001
           and white
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A59        Be straight with me - Mortgage costs in black     MAR 244/11855 4.10.2001        From 4 Oct 2001 to Nov 2001
           and white
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------

                                      37
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
SABW       Document                                          Reference                      Usage period and notes
------------------------------------------------------------------------------------------------------------------------------------
A60        Be straight with me - Mortgage costs in black     MAR 244/11973 8.11.2001        From 8 Nov 2001
           and white
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A61        Safe & Sure - Keeping the Benefits Once Your      MAR 9/12119                    From 12 Dec 2001
           Mortgage Ends                                     12.12.2001
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A62        Give me the facts                                 MAR 235/12189 9.1.2002         From 9 Jan 2002
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A63        All you need to know about mortgages              MAR 235/12275 21.1.2002        From 21 Jan 2002
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A64        Be straight with me - Mortgage costs in black     MAR 244/12486 1.4.2002         From 1 Apr 2002
           and white
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A65        All you need to know about mortgages              MAR 235/12537 9.5.2002         From 9 May 2002
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A66        Be straight with me - Mortgage costs in black     MAR 244/12539 9.5.2002         From 9 May 2002
           and white
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A67        Be straight with me - Mortgage costs in black     MAR 244/12859 26.7.2002        From 26 Jul 2002
           and white
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A68        All you need to know about mortgages              MAR 235/13039 10.10.2002       From 10 Oct 2002
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A69        I want a shorter mortgage, and I want             MAR 617/13070                  From 10 Oct 2002
           guarantees - Mortgages Guaranteed Repayment       10.10.2002
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A70        Be straight with me - Mortgage costs in black     MAR 244/12123 10.10.2002       From 10 Oct 2002
           and white
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A71        Hard to Beat - Keeping the Benefits Once Your     MAR 9                          From 1 Oct 1997
           Mortgage Ends                                     01.10.1997
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
A72        Mortgage costs in black and white                 MAR 244/13280                  From 6 Jan 2003
           Northern Rock plc                                 06.01.2003
------------------------------------------------------------------------------------------------------------------------------------
A73        All you need to know about Mortgages              MAR 235/13279                  From 9 Jan 2003
           Northern Rock plc                                 09.01.2003
------------------------------------------------------------------------------------------------------------------------------------
A74        I want a shorter mortgage, and guarantee          MAR 617/13371                  From 10 Jan 2003
------------------------------------------------------------------------------------------------------------------------------------
A75        Mortgage costs in black and white                 MAR 244/13437                  From 27 Jan 2003
           Northern Rock plc                                 27.01.2003
------------------------------------------------------------------------------------------------------------------------------------
A76        Mortgage costs in black and white                 MAR 244/13501                  From 8 Feb 2003
           Northern Rock plc                                 08.02.2003
------------------------------------------------------------------------------------------------------------------------------------
A77        Mortgages - safe and sure - keep the benefits     MAR 9/12337                    Valid until further notice 1.2.2003
           once your mortgage is paid off                    1.3.2003
------------------------------------------------------------------------------------------------------------------------------------
A78        Mortgage Deals to Suit Everyone - Update 18       MAR 236                        Valid until further notice - 18.6.2003
           June 2003                                         18.6.2003
------------------------------------------------------------------------------------------------------------------------------------
A79        I want a Shorter Mortgage, and I want Guarantees  MAR 617/13538                  Valid until further notice - 18.6.2003
                                                             18.6.2003
------------------------------------------------------------------------------------------------------------------------------------
A80        What's it going to Cost?                          MAR 302                        Valid until further notice - 18.6.2003
                                                             18.6.2003
------------------------------------------------------------------------------------------------------------------------------------

                                      38
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
SABW       Document                                          Reference                      Usage period and notes
------------------------------------------------------------------------------------------------------------------------------------
A81        I want to Buy to Let                              MAR 466/13927                  Valid until further notice - 18.6.2003
                                                             18.6.2003
------------------------------------------------------------------------------------------------------------------------------------
A82        Intermediaries - Mortgage Product Update - No. 6  MAR 035                        Valid until further notice - 18.6.2003
                                                             18.6.2003
------------------------------------------------------------------------------------------------------------------------------------
A83        Mortgage Costs in Black and White                 MAR 244/14005                  Valid until further notice - 14.7.2003
                                                             14.7.2003
------------------------------------------------------------------------------------------------------------------------------------
A84        Mortgage Deals to Suit Everyone - Update 14       MAR 236                        Valid until further notice - 14.7.2003
           July 2003                                         14.7.2003
------------------------------------------------------------------------------------------------------------------------------------
A85        I want a Shorter Mortgage, and I want Guarantees  MAR 617/14008                  Valid until further notice - 14.7.2003
                                                             14.7.2003
------------------------------------------------------------------------------------------------------------------------------------
A86        I want to Buy to Let                              MAR 466/14007                  Valid until further notice - 14.7.2003
                                                             14.7.2003
------------------------------------------------------------------------------------------------------------------------------------
A87        What's it going to Cost?                          MAR 302                        Valid until further notice - 14.7.2003
                                                             14.7.2003
------------------------------------------------------------------------------------------------------------------------------------
A88        Intermediaries - Mortgage Product Update - No. 7  MAR 035/14031                  Valid until further notice - 14.7.2003
                                                             14.7.2003
------------------------------------------------------------------------------------------------------------------------------------
A89        Mortgage Costs in Black and White                 MAR 244/14055                  Valid until further notice - 25.7.2003
                                                             25.7.2003
------------------------------------------------------------------------------------------------------------------------------------
A90        Mortgage Deals to Suit Everyone - Update 25       MAR 236                        Valid until further notice - 25.7.2003
           July 2003                                         25.7.2003
------------------------------------------------------------------------------------------------------------------------------------
A91        I want to Buy to Let                              MAR 466/14056                  Valid until further notice - 25.7.2003
                                                             25.7.2003
------------------------------------------------------------------------------------------------------------------------------------
A92        What's it going to Cost?                          MAR 302                        Valid until further notice - 25.7.2003
                                                             25.7.2003
------------------------------------------------------------------------------------------------------------------------------------
A93        Intermediaries - Mortgage Product Update - No. 8  MAR 035/14031                  Valid until further notice - 25.7.2003
                                                             25.7.2003
------------------------------------------------------------------------------------------------------------------------------------
A94        Mortgage Deals to Suit Everyone - Update 8        MAR 236                        Valid until further notice - 8.8.2003
           August 2003                                       8.8.2003
------------------------------------------------------------------------------------------------------------------------------------
A95        I want to Buy to Let                              MAR 466/14133                  Valid until further notice - 8.8.2003
                                                             8.8.2003
------------------------------------------------------------------------------------------------------------------------------------
A96        What's it going to Cost?                          MAR 302                        Valid until further notice - 8.8.2003
                                                             8.8.2003
------------------------------------------------------------------------------------------------------------------------------------
A97        Intermediaries - Mortgage Product Update - No. 9  MAR 035/14104                  Valid until further notice - 8.8.2003
                                                             8.8.2003
------------------------------------------------------------------------------------------------------------------------------------
A98        All you need to know about mortgages              MAR 235/13729                  Valid until further notice -
                                                             1.5.2003                       1.5.2003
------------------------------------------------------------------------------------------------------------------------------------
B          Mortgage Summary Information - Borrowers                                         (i.e. given to Borrowers dealing
                                                                                            directly with Northern Rock)
------------------------------------------------------------------------------------------------------------------------------------
B1         Update 18th September 2000                        MAR 236 18.9.2000              From 18 Sept 2000
------------------------------------------------------------------------------------------------------------------------------------
B2         Update 2nd October 2000                           MAR 236 2.10.2000              From 02 Oct 2000
------------------------------------------------------------------------------------------------------------------------------------
B3         Update 22nd November 2000                         MAR 236 22.11.2000             From 22 Nov 2000
------------------------------------------------------------------------------------------------------------------------------------
B4         Update 10th January 2001                          MAR 236 10.1.2001              From 10 Jan 2001
------------------------------------------------------------------------------------------------------------------------------------
B5         Update 1st February 2001                          MAR 236 1.2.2001               From 01 Feb 2001
------------------------------------------------------------------------------------------------------------------------------------

                                      39
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
SABW       Document                                          Reference                      Usage period and notes
------------------------------------------------------------------------------------------------------------------------------------
B6         Update 12th February 2001                         MAR 236 12.2.2001              From 12 Feb 2001
------------------------------------------------------------------------------------------------------------------------------------
B7         Update 22nd February 2001                         MAR 236 22.2.2001              From 22 Feb 2001
------------------------------------------------------------------------------------------------------------------------------------
B8         Update 6th April 2001                             MAR 236 6.4.2001               From 06 Apr 2001
------------------------------------------------------------------------------------------------------------------------------------
B9         Update 10th May 2001                              MAR 236 10.5.2001              From 10 May 2001
------------------------------------------------------------------------------------------------------------------------------------
B10        Update 22nd June 2001                             MAR 236 22.6.2001              From 22 June 2001
------------------------------------------------------------------------------------------------------------------------------------
B11        Update 2nd August 2001                            MAR 236 2.8.2001               From 02 Aug 2001
------------------------------------------------------------------------------------------------------------------------------------
B12        Update 3rd September 2001                         MAR 236 3.9.2001               From 03 Sept 2001
------------------------------------------------------------------------------------------------------------------------------------
B13        Update 19th September 2001                        MAR 236 19.9.2001              From 19 Sept 2001
------------------------------------------------------------------------------------------------------------------------------------
B14        Update 4th October 2001                           MAR 236 4.10.2001              From 04 Oct 2001
------------------------------------------------------------------------------------------------------------------------------------
B15        Update 5th December 2001                          MAR 236 5.12.2001              From 05 Dec 2001
------------------------------------------------------------------------------------------------------------------------------------
B16        Update 7th January 2002                           MAR 236 7.1.2002               From 07 Jan 2002
------------------------------------------------------------------------------------------------------------------------------------
B17        Update 15th January 2002                          MAR 236 15.1.2002              From 15 Jan 2002
------------------------------------------------------------------------------------------------------------------------------------
B18        Update 25th January 2002                          MAR 236 25.1.2002              From 25 Jan 2002
------------------------------------------------------------------------------------------------------------------------------------
B19        Update 9th February 2002                          MAR 236 09.2.2002              From 9 Feb 2002
------------------------------------------------------------------------------------------------------------------------------------
B20        Update 20th March 2002                            MAR 236 20.3.2002              From 20 Mar 2002
-----------------------------------------------------------------------------------------------------------------------------------
B21        Update 10th May 2002                              MAR 236 10.5.2002              From 10 May 2002
------------------------------------------------------------------------------------------------------------------------------------
B22        Update 26th July 2002                             MAR 236 26.7.2002              From 26 Jul 2002
------------------------------------------------------------------------------------------------------------------------------------
B23        Update 7th August 2002                            MAR 236 07.8.2002              From 7 Aug 2002
------------------------------------------------------------------------------------------------------------------------------------
B24        Update 30th August 2002                           MAR 236 30.8.2002              From 30 Aug 2002
------------------------------------------------------------------------------------------------------------------------------------
B25        Update 21st October 2002                          MAR 236 21.10.2002             From 21 Oct 2002
------------------------------------------------------------------------------------------------------------------------------------
B26        Update 8th November 2002                          MAR 236 08.11.2002             From 8 Nov 2002
------------------------------------------------------------------------------------------------------------------------------------
B27        Update 27th November 2002                         MAR 236 27.11.2002             From 27 Nov 2002
------------------------------------------------------------------------------------------------------------------------------------
B28        Update 10th Jan 2003                              MAR 236 10.01.2003             From 10 Jun 2003
------------------------------------------------------------------------------------------------------------------------------------
B29        Update 8th Feb 2003                               MAR 236 08.02.2003             From 8 Feb 2003
------------------------------------------------------------------------------------------------------------------------------------

                                      40
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
SABW       Document                                          Reference                      Usage period and notes
------------------------------------------------------------------------------------------------------------------------------------
C          Mortgage Summary Information - Brokers                                           (i.e. given to Borrowers dealing
                                                                                            directly with Northern Rock)
------------------------------------------------------------------------------------------------------------------------------------
C1         Mortgage Update                                                                  Regular editions from 17 Nov 1994
                                                                                            onwards
------------------------------------------------------------------------------------------------------------------------------------
C2         Mortgage Update 9th December 1994                 Dev 291                        From 09 Dec 1994
------------------------------------------------------------------------------------------------------------------------------------
C3         Mortgage Update 19th December 1994                Dev 291                        From 19 Dec 1994
------------------------------------------------------------------------------------------------------------------------------------
C4         Mortgage Update 11th January 1995                 Dev 291                        From 11 Jan 1995
------------------------------------------------------------------------------------------------------------------------------------
C5         Mortgage Update 1st February 1995                 Dev 291                        From 01 Feb 1995
------------------------------------------------------------------------------------------------------------------------------------
C6         Mortgage Update 24th March 1995                   Dev 291                        From 24 Mar 1995
------------------------------------------------------------------------------------------------------------------------------------
C7         Mortgage Update 18th April 1995                   Dev 291                        From 18 April 1995
------------------------------------------------------------------------------------------------------------------------------------
C8         Mortgage Update 17th May 1995                     Dev 291                        From 17 May 1995
------------------------------------------------------------------------------------------------------------------------------------
C9         Mortgage Update 5th June 1995                     Dev 291                        From 05 Jun 1995
------------------------------------------------------------------------------------------------------------------------------------
C10        Mortgage Update 19th June 1995                    Dev 291                        From 19 Jun 1995
------------------------------------------------------------------------------------------------------------------------------------
C11        Mortgage Update 17th July 1995                    Dev 291                        From 17 Jul 1995
------------------------------------------------------------------------------------------------------------------------------------
C12        Mortgage Update 1st September 1995                Dev 291                        From 01 Sep 1995
------------------------------------------------------------------------------------------------------------------------------------
C13        Mortgage Update 4th September 1995                Dev 291                        From 04 Sep 1995
------------------------------------------------------------------------------------------------------------------------------------
C14        Mortgage Update 16th October 1995                 Dev 291                        From 16 Oct 1995
------------------------------------------------------------------------------------------------------------------------------------
C15        Mortgage Update 30th November 1995                Dev 291                        From 30 Nov 1995
------------------------------------------------------------------------------------------------------------------------------------
C16        Mortgage Update 13th December 1995                Dev 291                        From 13 Dec 1995
------------------------------------------------------------------------------------------------------------------------------------
C17        Mortgage Update 3rd January 1996                  Dev 291                        From 03 Jan 1996
------------------------------------------------------------------------------------------------------------------------------------
C18        Mortgage Update 18th January 1996                 Dev 291                        From 18 Jan 1996
------------------------------------------------------------------------------------------------------------------------------------
C19        Mortgage Update 25th January 1996                 Dev 291                        From 25 Jan 1996
------------------------------------------------------------------------------------------------------------------------------------
C20        Mortgage Update 12th March 1996                   Dev 291                        From 12 Mar 1996
------------------------------------------------------------------------------------------------------------------------------------
C21        Mortgage Update 22nd April 1996                   Dev 291                        From 22 Apr 1996
------------------------------------------------------------------------------------------------------------------------------------
C22        Mortgage Update 10th June 1996                    Dev 291                        From 10 Jun 1996
------------------------------------------------------------------------------------------------------------------------------------
C23        Mortgage Update 2nd September 1996                Dev 291                        From 02 Sep 1996
------------------------------------------------------------------------------------------------------------------------------------
C24        Mortgage Update 21st October 1996                 Dev 291                        From 21 Oct 1996
------------------------------------------------------------------------------------------------------------------------------------
C25        Mortgage Update 11th November 1996                Dev 291                        From 11 Nov 1996
------------------------------------------------------------------------------------------------------------------------------------
C26        Mortgage Update 3rd January 1997                  Dev 291                        From 03 Jan 1997
------------------------------------------------------------------------------------------------------------------------------------
C27        Mortgage Update 11th February 1997                Dev 291                        From 11 Feb 1997
------------------------------------------------------------------------------------------------------------------------------------
C28        Guide to Mortgages                                Dev 434                        From 04 Apr 1997
------------------------------------------------------------------------------------------------------------------------------------
C29        Mortgage Update                                   Dev 435                        From 04 Apr 1997
------------------------------------------------------------------------------------------------------------------------------------
C30        Mortgage Update 28.5.97                           Dev 435                        From 28 May 1997
------------------------------------------------------------------------------------------------------------------------------------
C31        Mortgage Update 9.6.97                            Dev 435                        From 09 Jun 1997
------------------------------------------------------------------------------------------------------------------------------------
C32        Mortgage Update 25.6.97                           Dev 435                        From 25 Jun 1997
------------------------------------------------------------------------------------------------------------------------------------
C33        Mortgage Update 11.8.97                           Dev 435                        From 11 Aug 1997
------------------------------------------------------------------------------------------------------------------------------------
C34        Mortgage Update 3.9.97                            Dev 435                        From 03 Sep 1997
------------------------------------------------------------------------------------------------------------------------------------
C35        Mortgage Update 17.9.97                           Dev 435                        From 17 Sep 1997
------------------------------------------------------------------------------------------------------------------------------------
C36        Mortgage Update - Issue No 1                      MAR 35                         From 03 Nov 1997
------------------------------------------------------------------------------------------------------------------------------------
C37        Mortgage Update - Issue No 2                      MAR 35                         From 12 Nov 1997
------------------------------------------------------------------------------------------------------------------------------------
C38        Mortgage Update - Issue No 3                      MAR 35                         From 16 Dec 1997
------------------------------------------------------------------------------------------------------------------------------------
C39        Mortgage Update - Issue No 5                      MAR 35                         From 29 Jan 1998
------------------------------------------------------------------------------------------------------------------------------------

                                      41
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
SABW       Document                                          Reference                      Usage period and notes
------------------------------------------------------------------------------------------------------------------------------------
C40        Mortgage Update - Issue No 6                      MAR 35                         From 12 Feb 1998
------------------------------------------------------------------------------------------------------------------------------------
C41        Mortgage Update - Issue No 7                      MAR 35                         From 01 Apr 1998
------------------------------------------------------------------------------------------------------------------------------------
C42        Mortgage Update - Issue No 8                      MAR 35                         From 06 May 1998
------------------------------------------------------------------------------------------------------------------------------------
C43        Mortgage Update - Issue No 9                      MAR 35                         From 17 Jun 1998
------------------------------------------------------------------------------------------------------------------------------------
C44        Mortgage Update - Issue No 9                      MAR 35                         From 01 Jul 1998
------------------------------------------------------------------------------------------------------------------------------------
C45        Mortgage Update - Issue No 10                     MAR 35                         From 08 Aug 1998
------------------------------------------------------------------------------------------------------------------------------------
C46        Mortgage Update - Issue No 11                     MAR 35                         From 19 Sep 1998
------------------------------------------------------------------------------------------------------------------------------------
C47        Mortgage Update - Issue No 12                     MAR 35                         From 08 Oct 1998
------------------------------------------------------------------------------------------------------------------------------------
C48        Mortgage Update - Issue No 13                     MAR 35                         From 05 Nov 1998
------------------------------------------------------------------------------------------------------------------------------------
C49        Mortgage Update - Issue No 14                     MAR 35                         From 07 Dec 1998
------------------------------------------------------------------------------------------------------------------------------------
C50        Mortgage Update - Issue No 15                     MAR 35                         From 22 Jan 1999
------------------------------------------------------------------------------------------------------------------------------------
C51        Mortgage Update - Issue No 16                     MAR 35                         From 04 Feb 1999
------------------------------------------------------------------------------------------------------------------------------------
C52        Mortgage Update - Issue No 17                     MAR 35                         From 06 Mar 1999
------------------------------------------------------------------------------------------------------------------------------------
C53        Mortgage Update - Issue No 18                     MAR 35                         From 13 Apr 1999
------------------------------------------------------------------------------------------------------------------------------------
C54        Mortgage Update - Issue No 19                     MAR 35                         From 16 Jun 1999
------------------------------------------------------------------------------------------------------------------------------------
C55        Mortgage Update - Issue No 20                     MAR 35                         From 28 Jul 1999
------------------------------------------------------------------------------------------------------------------------------------
C56        Mortgage Update - Issue No 21                     MAR 35                         From 26 Aug 1999
------------------------------------------------------------------------------------------------------------------------------------
C57        Together Flexible - Total Flexibility in One
           Loan
------------------------------------------------------------------------------------------------------------------------------------
C58        Mortgage Update - Issue No 22                     MAR 35                         From 09 Sep 1999
------------------------------------------------------------------------------------------------------------------------------------
C59        Mortgage Update - Issue No 23                     MAR 35                         From 29 Sep 1999
------------------------------------------------------------------------------------------------------------------------------------
C60        Mortgage Update - Issue No 24                     MAR 35                         From 09 Nov 1999
------------------------------------------------------------------------------------------------------------------------------------
C61        Mortgage Update - Issue No 25                     MAR 35                         From 01 Dec 1999
------------------------------------------------------------------------------------------------------------------------------------
C62        Mortgage Update - Issue No 26                     MAR 35                         From 04 Jan 2000
------------------------------------------------------------------------------------------------------------------------------------
C63        Mortgage Update - Issue No 27                     MAR 35                         From 17 Jan 2000
------------------------------------------------------------------------------------------------------------------------------------
C64        Mortgage Update - Issue No 28                     MAR 35                         From 10 Mar 2000
------------------------------------------------------------------------------------------------------------------------------------
C65        Mortgage Update - Issue No 29                     MAR 35                         From 27 Apr 2000
------------------------------------------------------------------------------------------------------------------------------------
C66        Mortgage Update - Issue No 30                     MAR 35                         From 07 Jun 2000
------------------------------------------------------------------------------------------------------------------------------------
C67        Mortgage Update - Issue No 31                     MAR 35                         From 28 Jun 2000
------------------------------------------------------------------------------------------------------------------------------------
C68        Mortgage Update - Issue No 32                     MAR 35                         From 04 Aug 2000
------------------------------------------------------------------------------------------------------------------------------------
C69        Mortgage Update - Issue No 33                                                    From 18 Sep 2000
------------------------------------------------------------------------------------------------------------------------------------
C70        Mortgage Update - Issue No 34                                                    From 02 Oct 2000
------------------------------------------------------------------------------------------------------------------------------------
C71        Mortgage Update - Issue No 47                     MAR035                         From 08 Nov 2001
------------------------------------------------------------------------------------------------------------------------------------
C72        Mortgage Update - Issue No 48                     MAR035                         From 05 Dec 2001
------------------------------------------------------------------------------------------------------------------------------------
C73        Mortgage Update - Issue No 49                     MAR035                         From 07 Jan 2002
------------------------------------------------------------------------------------------------------------------------------------
C74        Mortgage Update - Issue No 49                     MAR035                         From 16 Jan 2002
------------------------------------------------------------------------------------------------------------------------------------
C75        Mortgage Update - Insert to be used in            MAR035                         From 16 Jan 2002
           conjunction with Issue No 49
------------------------------------------------------------------------------------------------------------------------------------
C76        Mortgage Update - Insert to be used in            MAR035                         From 16 Jan 2002
           conjunction with Issue No 49
------------------------------------------------------------------------------------------------------------------------------------
C77        Mortgage Update - Issue No 50                     MAR035                         From 23 Mar 2002
------------------------------------------------------------------------------------------------------------------------------------
C78        Mortgage Update - Issue No 51                     MAR035                         From 10 May 2002
------------------------------------------------------------------------------------------------------------------------------------
C79        Mortgage Update - dated 10 May 2002
------------------------------------------------------------------------------------------------------------------------------------

                                      42
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
SABW       Document                                          Reference                      Usage period and notes
------------------------------------------------------------------------------------------------------------------------------------
C80        Mortgage Update - Issue No 52                     MAR035                         From 26 Jul 2002
------------------------------------------------------------------------------------------------------------------------------------
C81        Mortgage Update - Issue No 53                     MAR035                         From 7 Aug 2002
------------------------------------------------------------------------------------------------------------------------------------
C82        Mortgage Update - Issue No 54                     MAR035                         From 30 Aug 2002
------------------------------------------------------------------------------------------------------------------------------------
C83        Mortgage Update - Issue No 55                     MAR035                         From 4 Sep 2002
------------------------------------------------------------------------------------------------------------------------------------
C84        Mortgage Update - Issue No 56                     MAR035                         From 8 Oct 2002
------------------------------------------------------------------------------------------------------------------------------------
C85        Mortgage Update - Issue No 57                     MAR035                         From 21 Oct 2002
------------------------------------------------------------------------------------------------------------------------------------
C86        Mortgage Update - Issue No 58                     MAR035                         From 8 Nov 2002
------------------------------------------------------------------------------------------------------------------------------------
C87        Mortgage Update - Issue No 59                     MAR035                         From 27 Nov 2002
------------------------------------------------------------------------------------------------------------------------------------
C88        Intermediaries - Mortgage Product Update -        MAR035                         From 10 Jun 2003
           Issue No 1
------------------------------------------------------------------------------------------------------------------------------------
C89        Intermediaries - Mortgage Product Update -        MAR035                         From 8 Mar 2003
           Issue No 2
------------------------------------------------------------------------------------------------------------------------------------
D          Mortgage Advice - Borrowers                                                      (i.e. given to Borrowers dealing
                                                                                            directly with Northern Rock)
------------------------------------------------------------------------------------------------------------------------------------
D1         Mortgage Product Advice and Recommendation        Valid September 2000           From Sep 2000
------------------------------------------------------------------------------------------------------------------------------------
E          Offers of Advance
------------------------------------------------------------------------------------------------------------------------------------
E1         Offer of Advance                                  ADV6F/0396                     From Mar 1996
           (with General Conditions on reverse)
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
E2         Offer of Advance                                  ADV6B/0300                     From Mar 2000
           (with General Conditions on reverse)                                             In triplicate - white, blue and green
           Northern Rock plc                                                                copies.
------------------------------------------------------------------------------------------------------------------------------------
E3         Revised Offer of Loan [Northern Rock copy]                                       From July 2001 - used in conjunction
           Northern Rock plc                                                                with General Conditions introduced on
                                                                                            same date - Most of the content of the
                                                                                            document is variable and is specific
                                                                                            to individual customers/mortgage
                                                                                            products
------------------------------------------------------------------------------------------------------------------------------------
F          General Conditions (used on reverse of Offer of
           Advance)
------------------------------------------------------------------------------------------------------------------------------------
F1         General Conditions                                [ADV6/1094]                    From Oct 1994 to Jun 1995
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
F2         General Conditions                                ADV6/0695                      From Jun 1995 to Jul 1995
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
F3         General Conditions                                ADV6/0795                      From Jul 1995 to Jan 1996
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
F4         General Conditions                                ADV6/0196                      From Jan 1996 to Dec 1996
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
F5         General Conditions                                ADV6/1296                      From Dec 1996 to ?
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
F6         General Conditions                                ADV6B/1296                     From Dec 1996 to Oct 1997
           Northern Rock Building Society                                                   [Offer of Advance ADV6F/0396 on the
                                                                                            reverse]
------------------------------------------------------------------------------------------------------------------------------------
F7         General Conditions                                ADV6B/1097                     From Oct 1997 to Dec 1997
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
F8         General Conditions                                ADV6B/1297                     From Dec 1997 to Jan 1998
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------

                                      43
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
SABW       Document                                          Reference                      Usage period and notes
------------------------------------------------------------------------------------------------------------------------------------
F9         General Conditions                                ADV6B/0198                     From Jan 1998 to Jun 1998
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
F10        General Conditions                                ADV6B/0698                     From Jun 1998 to Jan 1999
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
F11        General Conditions                                ADV6B/0199                     From Jan 1999 to Sep 1999
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
F12        General Conditions                                ADV6B/0999                     From Sep 1999 to Mar 2000
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
F13        General Conditions                                ADV6B/0300                     From Mar 2000
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
F14        Terms and Conditions - Applicant Copy             OBA1/0900 on cover             From Sep 2000
           Northern Rock plc                                 OBA2/0900 on reverse
------------------------------------------------------------------------------------------------------------------------------------
F15        Terms and Conditions - Solicitor Copy             OBS1/0900 on cover             From Sep 2000
           Northern Rock plc                                 OBS2/0900 on reverse
------------------------------------------------------------------------------------------------------------------------------------
F16        Terms and Conditions - Applicant Copy             OBA1/0101 on cover             From Jan 2001
           Northern Rock plc                                 OBA2/0101 on reverse
------------------------------------------------------------------------------------------------------------------------------------
F17        Terms and Conditions - Solicitor Copy             OBA1/0101 on cover             From Jan 2001
           Northern Rock plc                                 OBA2/0101 on reverse
------------------------------------------------------------------------------------------------------------------------------------
F18        General Conditions                                ADV282/ July 2001              From July 2001
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
F19        Product Transfer - General Conditions (Flexible)  SB/T&C/FLEX/05/02              From May 2002
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
G          Mortgage Conditions/Building Society Rules
------------------------------------------------------------------------------------------------------------------------------------
G1         Rules of Northern Rock Building Society           GEN 128/1.94                   From 28 Apr 1992
------------------------------------------------------------------------------------------------------------------------------------
G2         Mortgage Conditions 1995                          ADV72 06/95                    From Jun 1995
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
G3         Mortgage Conditions 1997                          ADV 72 08/97                   From Aug 1997
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
G4         Mortgage Conditions 2001                          ADV 276 07/2001                From Oct 2001
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
H          Occupiers Undertakings
------------------------------------------------------------------------------------------------------------------------------------
H1         Agreement and Undertaking                         scjh0404/stand                 ?
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
H2         Agreement and Undertaking                         (LIF)LIFE30                    From Aug 1997
           Northern Rock
------------------------------------------------------------------------------------------------------------------------------------
H3         Agreement and Undertaking                         st/peps                        From Oct 1997
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
H4         Agreement and Undertaking                         JAGO3/0500                     From May 2000
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
H5         Agreement and Undertaking                         UNDERTAKE June 2000            From June 2000
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------

                                      44
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
SABW       Document                                          Reference                      Usage period and notes
------------------------------------------------------------------------------------------------------------------------------------
I          Miscellaneous Mortgage Documentation
------------------------------------------------------------------------------------------------------------------------------------
I1         Mortgage of Life Policy                           SEC 16 /02.94                  From Feb 1994
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
I2         Mortgage of Life Policy                           SEC 16 /06.95                  From Jun 1995
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
I3         Valuations and Surveys - hard to beat             DEV 125                        From 19 Jun 1995
           Northern Rock Building Society                    19.6.1995
------------------------------------------------------------------------------------------------------------------------------------
I4         Valuations and Surveys - hard to beat             DEV 125                        From 14 Aug 1995
           Northern Rock Building Society                    14.8.1995
------------------------------------------------------------------------------------------------------------------------------------
I5         Guarantors Confirmation (Existing Borrowers)      ADV 266.7/97                   From Jul 1997
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
I6         Mortgage of Life Policy                           SEC 16T /10.97                 From Oct 1997
           Northern Rock Building Society/Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
I7         Mortgage of Life Policy                           SEC 16 /10.97                  From Oct 1997
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
I8         Guarantors Confirmation (Existing Borrowers)      ADV 266.10/97                  From Oct 1997
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
I9         Guarantors Confirmation                           ADV 265.10/97                  From Oct 1997
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
I9(a)      Guarantors Confirmation                           ADV 265.06/00                  From Jun 2000
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
I10        Application for Transfer of Ownership of a        MA 31/10.97                    From Oct 1997
           Mortgaged Property
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
I11        Notice of Assignment of Life Policy               ADV 29 /11.99                  From Nov 1999
------------------------------------------------------------------------------------------------------------------------------------
I12        Individual Savers Account (ISA) Policy            JAGO2/0500                     From May 2000
           Arrangements form
------------------------------------------------------------------------------------------------------------------------------------
I13        Application for Transfer of Ownership of a        MA 31/Feb.01                   From Feb 2001
           Mortgaged Property
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
I14        Deed of Guarantee                                 SOL013 / July 2001             From Jul 2001
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
I15        Guarantors Confirmation                           NRDGC 05/02                    From May 2002 - This document is only
           Northern Rock plc                                                                used by Northern Rock Direct
------------------------------------------------------------------------------------------------------------------------------------
I16        Confirmation of Identity                          GASelfCert - Aug 2003          From Aug 2003
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
J          Mortgage Origination and Completion -
           Solicitors/Other Third Party Documentation
------------------------------------------------------------------------------------------------------------------------------------
J1         Valuations and Surveys - Helping you ensure       DEV 125                        From 1 Oct 1992
           your home is a solid investment                   01.10.1992
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
J2         Report on Title and Funds Request (including      MA55 01/94                     From Jan 1994
           Instructions to Solicitors/Licensed
           Conveyancers) Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------

                                      45
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
SABW       Document                                          Reference                      Usage period and notes
------------------------------------------------------------------------------------------------------------------------------------
J3         Report on Title and Funds Request (including      MA55 /04.96                    From Apr 1996
           Instructions to Solicitors/Licensed
           Conveyancers) Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
J4         Changes of Ownership in Mortgaged Property -      ADV 54 /05.96                  From May 1996
           Note to Solicitors
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
J5         Report on Title and Funds Request (including      MA55 /01.97                    From Jan 1997
           Instructions to Solicitors/Licensed
           Conveyancers) Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
J6         Changes of Ownership in Mortgaged Property -      ADV 54 02.97                   From Feb 1997
           Note to Solicitors
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
J7         Changes of Ownership in Mortgaged Property -      ADV 54 07.97                   From Jul 1997
           Note to Solicitors
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
J8         Report on Title and Funds Request (including      MA55 /10.97                    From Oct 1997
           Instructions to Solicitors/Licensed
           Conveyancers) Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
J9         Changes of Ownership in Mortgaged Property -      ADV 54 10.97                   From Oct 1997
           Note to Solicitors
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
J10        Valuations and Surveys - hard to beat             MAR 6                          From 1 Oct 1997
           Northern Rock plc                                 1.10.1997
------------------------------------------------------------------------------------------------------------------------------------
J11        Report and Valuation for Mortgages Purposes on    ADV 155 10.97                  From Oct 1997
           behalf of Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
J12        Report and Valuation for Mortgages Purposes on    ADV 179 10.97                  From Oct 1997
           behalf of Northern Rock plc - Sheet 2
------------------------------------------------------------------------------------------------------------------------------------
J13        Report and Valuation for Mortgages Purposes on    ADV 267 10.97                  From Oct 1997
           behalf of Northern Rock plc - Sheet 2 in
           respect of loans exceeding (GBP)150,000
------------------------------------------------------------------------------------------------------------------------------------
J14        Report and Valuation for Mortgages Purposes on    ADV 7a 10.97                   From Oct 1997
           behalf of Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
J15        Reinspection Report                               ADV 76 10.97                   From Oct 1997
           Northern Rock plc (2 versions)
------------------------------------------------------------------------------------------------------------------------------------
J16        Additional Advance Valuation Report               ADV 127B 10.97                 From Oct 1997
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
J17        Report and Valuation for Mortgages Purposes on    ADV 155 12.98                  From Dec 1998
           behalf of Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
J18        Part 2 Instructions (in relation to the CML                                      Offers of Advance issued from 01 Jun
           Lenders' Handbook for England & Wales)                                           2000[?]
------------------------------------------------------------------------------------------------------------------------------------
J19        Certificate of Title                              JAGO4/0700                     From Jul 2000
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
J20        Certificate of Title                              COT/0700                       From Jul 2000
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
J21        Part 2 Instructions (in relation to the CML                                      Offers of Advance issued from late
           Lenders' Handbook for England & Wales)                                           Summer 2000[?]
------------------------------------------------------------------------------------------------------------------------------------
J22        Deeds Dematerialisation [Notice to solicitors]                                   [From Apr 2000?]
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------

                                      46
<PAGE>
------------------------------------------------------------------------------------------------------------------------------------
SABW       Document                                          Reference                      Usage period and notes
------------------------------------------------------------------------------------------------------------------------------------
J23        Valuations and Surveys - Property                 MAR 6/10550                    From Oct 2000
           Northern Rock plc                                 Oct 2000
------------------------------------------------------------------------------------------------------------------------------------
J24        Changes of Ownership in Mortgaged Property -      ADV 54 11/00                   From Nov 2000
           Note to Solicitors
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
J25        Certificate of Title (including Drawdown Loan     COT/0502                       From May 2002
           Certificate)
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
J26        Valuations and Surveys - Property                 MAR 6/12661                    From May 2002
           Northern Rock plc                                 May 2002
------------------------------------------------------------------------------------------------------------------------------------
J27        Report and Valuation for Mortgages Purposes on    AL/SAS/267/  (500+) 09.02      From Sep 2002
           behalf of Northern Rock plc - Sheet 2 in
           respect of loans exceeding (GBP)1,000,000
------------------------------------------------------------------------------------------------------------------------------------
J28        Certificates of Title                             COT/1102                       From Nov 2002
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
J29        Report and Valuation for Mortgage Purposes on     ADV 155/07.03                  From July 2003
           behalf of Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
K          Completion Documentation
------------------------------------------------------------------------------------------------------------------------------------
K1         Schedule of Documents of Title                    SEC 28/11.94                   From Nov 1994
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
K2         Schedule of Documents of Title                    SEC 28/01.96                   From Jan 1996
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
K3         Schedule of Documents of Title                    SEC28 /10.97                   From Oct 1997
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
K4         Schedule of Documents of Title                    SEC 28/01.96                   From Jan 1996
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
K5         Schedule of Documents of Title                    SEC28 /10.97                   From Oct 1997
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
K6         Schedule of Documents of Title                    JAGO1/0500                     From May 2000
           Northern Rock plc                                 JAGO1B/0500
------------------------------------------------------------------------------------------------------------------------------------
K7         Deeds Schedule                                    SODT/0201                      From Feb 2001
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
K8         Completion Advice                                 A146F - representative         Completions advices are in a flexible
           Northern Rock plc                                 sample                         format - content is variable depending
                                                                                            upon circumstances of loan and product
                                                                                            applied for.  Permutations are vast
                                                                                            and it is impractical to maintain an
                                                                                            archive of each scenario.
------------------------------------------------------------------------------------------------------------------------------------
K9         Additional Advance Cheque Request                 ADV 133 01/94                  From Jan 1994
           Northern Rock Building Society
------------------------------------------------------------------------------------------------------------------------------------
K10        Re-Advance/Further Advance Receipt                SEC 37 /10.97                  From Oct 1997
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
K11        Additional Advance Funds Request                  ADV 271 /10.97                 From Oct 1997
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
K12        Additional Advance Funds Request                  ADV 271 1/98                   From Jan 1998
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
K13        Additional Advance Funds Request                  AAFR/0802                      From Aug 2002
           Northern Rock plc
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      47
<PAGE>

               Part 2 Documents Used Only in the Origination of
    Standard Fixed Rate, Standard Variable Rate, Cashback, Capped, Tracker,
            CAT Standard, Discount and Discount for Life Mortgages
<TABLE>
<CAPTION>

---------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
---------------------------------------------------------------------------------------------------------------------
<S>        <C>                                                <C>                 <C>
L          Mortgage Application Forms - General
---------------------------------------------------------------------------------------------------------------------
L1         Mortgage Application Form                          ADV 4. 05/95        From May 1995 to Mar 1996
           Northern Rock Building Society
---------------------------------------------------------------------------------------------------------------------
L2         Mortgage Application Form                          ADV 4. 03/96        From Mar 1996 to Jul 1997
           Northern Rock Building Society
---------------------------------------------------------------------------------------------------------------------
L3         Mortgage Application Form                          ADV 4. 07/97        From Jul 1997 to Oct 1997
           Northern Rock Building Society
---------------------------------------------------------------------------------------------------------------------
L4         Mortgage Application Form                          ADV 4. 10/97        From Oct 1997 to Dec 1997
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
L5         Mortgage Application Form                          ADV 4. 12/97        From Dec 1997 to Mar 1998
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
L6         Mortgage Application Form                          ADV 4 DRTV 3/98     From Mar 1998 to Apr 1998
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
L7         Mortgage Application Form                          ADV 4. 4/98         From Apr 1998 to Jan 1999
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
L8         Mortgage Application Form                          ADV 4. 1/99         From Jan 1999 to Feb 2000
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
L9         Mortgage Application Form                          ADV 4. 2/00         From Feb 2000 to Jun 2000
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
L10        Mortgage Application Form                          ADV 4. 6/00         From Jun 2000 to Dec 2000
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
L11        Mortgage Application Form                          ADV4. 12/00         From Dec 2000 to Jan 2001
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
L12        Mortgage Application Form                          ADV4. 01/01         From Jan 2001 to May 2001
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
L13        Mortgage Application Form                          ADV4. 05/01         From May 2001 to Sept 2001
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
L14        Mortgage Application Form                          ADV4. 09/01         From Sept 2001 to Oct 2001
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
L15        Mortgage Application Form                          ADV4. 10/01         From Oct 2001 to Aug 2002
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
           NB From this point onwards the Mortgage
           Application Forms appear to also be used for the
           Together/Together Connections products.
---------------------------------------------------------------------------------------------------------------------
L16        Mortgage Application Form                          ADV4. 08.02         From Aug 2002 to Oct 2002
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
L17        Mortgage Application Form                          ADV4. 10.02         From Oct 2002 to
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
L18        Your Personal Quotation and Transfer Declaration   19 Sep 2002         (Sample re Mr and Mrs Kapke)
           for a Flexible Fixed Rate
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
L19        Your Personal Quotation and Transfer Declaration   19 Sep 2002         (Sample re Mr Mcparland and Miss
           for a Together Mortgage                                                Davis)
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------

                                      48
<PAGE>
---------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
---------------------------------------------------------------------------------------------------------------------
L20        Mortgage Application Form                          ADV4.02.03          From Feb 2003 to
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
M          Mortgage Application Forms - Northern Rock Direct
---------------------------------------------------------------------------------------------------------------------
M1         Your Direct Mortgage Application Form              Dev 439 4/97        From Apr 1997 to Oct 1997
           Northern Rock Direct/Northern Rock Building
           Society
---------------------------------------------------------------------------------------------------------------------
M2         Your Direct Mortgage Application Form              MAR 17b 1.10.97     From Oct 1997 to Dec 1997
           Northern Rock Direct/Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
M3         Your Direct Mortgage Application Form              MAR 17b 15.12.97    From Dec 1997 to May 1998
           Northern Rock Direct/Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
M4         Your Direct Mortgage Application Form              MAR 124 31 May      From May 1998 to ?
           Northern Rock Direct/Northern Rock plc             1998
---------------------------------------------------------------------------------------------------------------------
N          Application Forms - Specialist
---------------------------------------------------------------------------------------------------------------------
N1         Secured Personal Loan Application Form             ADV 31. 1/99        From Jan 1999
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
N2         Secured Personal Loan Application Form             ADV031 (8.5.2000)   From May 2000
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
N3         Secured Personal Loan Application Form             ADV031              From Oct 2001
           Northern Rock plc                                  (22.10.2001)
---------------------------------------------------------------------------------------------------------------------
N4         Secured Personal Loan Application Form             ADV031              From Aug 2002
           Northern Rock plc                                  (01.8.2002)
---------------------------------------------------------------------------------------------------------------------
O          Special Conditions for Fixed Rate Mortgages
           (used with Offer of Advance)
---------------------------------------------------------------------------------------------------------------------
O1         5 year Fixed Rate Mortgage                         AY                  From 15 Jul 1997
---------------------------------------------------------------------------------------------------------------------
O2         5 year Fixed Rate Mortgage                         BA                  From 26 Jun 1997
---------------------------------------------------------------------------------------------------------------------
O3         5 year Fixed Rate Mortgage                         BH                  From 03 Sep 1997
---------------------------------------------------------------------------------------------------------------------
O4         5 year Fixed Rate Mortgage                         BQ                  From 17 Sep 1997
---------------------------------------------------------------------------------------------------------------------
O5         5 year Fixed Rate Mortgage                         BS                  From 01 Jan 1997
                                                                                  [Query date - should be Nov?]
---------------------------------------------------------------------------------------------------------------------
O6         5 year Fixed Rate Mortgage                         BT                  From 01 Nov 1997
                                                                                  [Other dates?]
---------------------------------------------------------------------------------------------------------------------
O7         5 year Fixed Rate Mortgage                         CF                  From 22 Jan 1998
---------------------------------------------------------------------------------------------------------------------
O8         5 year Fixed Rate Mortgage                         CJ                  From 01 Apr 1998
---------------------------------------------------------------------------------------------------------------------
O9         5 year Fixed Rate Mortgage                         CK                  From 01 Apr 1998
---------------------------------------------------------------------------------------------------------------------
O10        5 year Fixed Rate Mortgage                         CM                  From 06 May 1998
---------------------------------------------------------------------------------------------------------------------
O11        5 year Fixed Rate Mortgage                         CP                  From 17 Jun 1998
---------------------------------------------------------------------------------------------------------------------
O12        5 year Fixed Rate Mortgage                         CU                  From 01 Jul 1998
---------------------------------------------------------------------------------------------------------------------
O13        5 year Fixed Rate Mortgage                         CZ                  From 08 Aug 1998
---------------------------------------------------------------------------------------------------------------------
O14        5 year Fixed Rate Mortgage                         EA                  From 08 Aug 1998
---------------------------------------------------------------------------------------------------------------------
O15        5 year Fixed Rate Mortgage                         EU                  From 22 Jan 1999
---------------------------------------------------------------------------------------------------------------------
O16        5 year Fixed Rate Mortgage                         FD
---------------------------------------------------------------------------------------------------------------------
O17        5 year Fixed Rate Mortgage                         FL                  From 13 Mar 1999
---------------------------------------------------------------------------------------------------------------------
O18        5 year Fixed Rate Mortgage                         FM                  From 13 Apr 1999
---------------------------------------------------------------------------------------------------------------------
O19        5 year Fixed Rate Mortgage                         FN                  From 13 Apr 1999
---------------------------------------------------------------------------------------------------------------------
O20        5 year Fixed Rate Mortgage                         FP                  From 23 Apr 1999
---------------------------------------------------------------------------------------------------------------------

                                      49
<PAGE>
---------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
---------------------------------------------------------------------------------------------------------------------
O21        5 year Fixed Rate Mortgage                         KZ                  From 29 Nov 1999
---------------------------------------------------------------------------------------------------------------------
O22        2 year Fixed Rate Mortgage                                             From 9 Jan 2003
---------------------------------------------------------------------------------------------------------------------
O23        10 year Fixed Rate Mortgage                                            from 9 Jan 2003
---------------------------------------------------------------------------------------------------------------------
O24        15 year Fixed Rate Mortgage                                            from 9 Jan 2003
---------------------------------------------------------------------------------------------------------------------
O25        Guaranteed Repayment Mortgage 10 year Fixed Rate                       from 9 Jan 2003
           Mortgage
---------------------------------------------------------------------------------------------------------------------
O26        Guaranteed Repayment Mortgage 15 year Fixed Rate                       from 9 Jan 2003
           Mortgage
---------------------------------------------------------------------------------------------------------------------
O27        Help with Costs Special Condition Wording - for
           Guaranteed Repayment Mortgage 10 year Fixed Rate
           Mortgage (2 versions)
---------------------------------------------------------------------------------------------------------------------
O28        Help with Costs Special Condition Wording - for
           Guaranteed Repayment Mortgage 15 year Fixed Rate
           Mortgage (2 versions)
---------------------------------------------------------------------------------------------------------------------
O29        Help with Costs Special Condition Wording - for
           10 year Fixed Rate (2 versions)
---------------------------------------------------------------------------------------------------------------------
O30        Help with Costs Special Condition Wording - for
           15 year Fixed Rate (2 versions)
---------------------------------------------------------------------------------------------------------------------
P          Special Conditions for Variable Rate Mortgages
           (used with Offer of Advance)
---------------------------------------------------------------------------------------------------------------------
P1         Variable Rate Mortgage - Cashback                  6B                  From 30 Nov 1995
---------------------------------------------------------------------------------------------------------------------
P2         Variable Rate Mortgage - Cashback without          9B                  From 03 Jan 1996
           insurance
---------------------------------------------------------------------------------------------------------------------
P3         Variable Rate Mortgage - Cashback without          C5                  From 11 Aug 1997
           insurance                                                              [Query date - should be 1996?]
---------------------------------------------------------------------------------------------------------------------
P4         Variable Rate Mortgage - Cashback without          C7                  From 02 Sep 1996
           insurance
---------------------------------------------------------------------------------------------------------------------
P5         Variable Rate Mortgage - Cashback without          C9                  From 02 Sep 1996
           insurance
---------------------------------------------------------------------------------------------------------------------
P6         3 year Discounted Variable Rate Mortgage           J9 and J0           From 25 Jun 1998
                                                                                  [Other dates ?]
---------------------------------------------------------------------------------------------------------------------
P7         Variable Rate Mortgage - 5% Cashback               P5                  From 25 Jun 1997
                                                                                  [Other dates ?]
---------------------------------------------------------------------------------------------------------------------
P8         Variable Rate Mortgage - 6% Cashback               P6                  From 03 Sep 1997
                                                                                  [Other date ?]
---------------------------------------------------------------------------------------------------------------------
P9         Variable Rate Mortgage - Cashback                  7P and 8P           From 22 Jan 1998
---------------------------------------------------------------------------------------------------------------------
P10        3 year Discounted Variable Rate Mortgage           M1 to [M6 ?]        From 22 Jan 1998
---------------------------------------------------------------------------------------------------------------------
P11        Variable Rate Mortgage - Cashback                  S1 and S2           From 22 Jan 1998
---------------------------------------------------------------------------------------------------------------------
P12        3 year Discounted Variable Rate Mortgage           M7 and M8           From 01 Apr 1998
---------------------------------------------------------------------------------------------------------------------
P13        Variable Rate Mortgage - Cashback                  S4 and S5           From 06 May 1998
---------------------------------------------------------------------------------------------------------------------
P14        Variable Rate Mortgage - Cashback                  7S                  From 10 Jun 1996
---------------------------------------------------------------------------------------------------------------------
P15        Variable Rate Mortgage - Cashback                  3T                  From 07 Dec 1998
                                                                                  [Other date?]
---------------------------------------------------------------------------------------------------------------------
P16        Variable Rate Mortgage - Cashback                  6T and 7T           From 22 Jan 1999
                                                                                  [Other date?]
---------------------------------------------------------------------------------------------------------------------
P17        Variable Rate Mortgage - 8%/7% Cashback            GB and GC           From 06 Mar 1999
---------------------------------------------------------------------------------------------------------------------
P18        Variable Rate Mortgage - 8% Cashback               GF                  From 13 Apr 1999
---------------------------------------------------------------------------------------------------------------------

                                      50
<PAGE>
---------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
---------------------------------------------------------------------------------------------------------------------
P19        Variable Rate Mortgage - 7% Cashback               GG                  From 13 Apr 1999
---------------------------------------------------------------------------------------------------------------------
P20        Variable Rate Mortgage - 7% Cashback               GH                  From 13 Apr 1999
---------------------------------------------------------------------------------------------------------------------
P21        Variable Rate Mortgage - 6% Cashback               GI                  From 13 Apr 1999
---------------------------------------------------------------------------------------------------------------------
P22        Variable Rate Mortgage - 8% Cashback               GT                  From 16 Jun 1999
---------------------------------------------------------------------------------------------------------------------
P23        Variable Rate Mortgage - 7% Cashback               GU
---------------------------------------------------------------------------------------------------------------------
P24        Variable Rate Mortgage - 7% Cashback               JG                  From 28 Jul 1999
---------------------------------------------------------------------------------------------------------------------
P25        Variable Rate Mortgage - 6% Cashback               JN                  From 29 Aug 1999
---------------------------------------------------------------------------------------------------------------------
P26        Variable Rate Mortgage - 7% Cashback               JQ                  From 29 Sep 1999
                                                                                  [Other dates?]
---------------------------------------------------------------------------------------------------------------------
P27        Variable Rate Mortgage - 6% Cashback               JR                  From 29 Sep 1999
                                                                                  [Other dates?]
---------------------------------------------------------------------------------------------------------------------
P28        Variable Rate Mortgage - 5% Cashback               JS                  From 29 Sep 1999
                                                                                  [Other dates?]
---------------------------------------------------------------------------------------------------------------------
P29        Variable Rate Mortgage - 7% Cashback               JU                  From 04 Jan 2000
---------------------------------------------------------------------------------------------------------------------
P30        Variable Rate Mortgage 6% Cashback                                     From 9 Jan 2003
---------------------------------------------------------------------------------------------------------------------
P31
---------------------------------------------------------------------------------------------------------------------
Q          Special Conditions for Tracker, CAT Standard,
           Capped and Discount for Life Mortgages (used
           with Offer of Advance)
---------------------------------------------------------------------------------------------------------------------
Q1         Discount for Life Variable Rate Mortgage           X9 and X0
---------------------------------------------------------------------------------------------------------------------
Q2         Discount for Life Variable Rate Mortgage           1X and 2X
---------------------------------------------------------------------------------------------------------------------
Q3         Discount for Life Variable Rate Mortgage           3X and 4X
---------------------------------------------------------------------------------------------------------------------
Q4         Discount for Life Variable Rate Mortgage           5X and 6X
---------------------------------------------------------------------------------------------------------------------
Q5         Discount for Life Variable Rate Mortgage           7X and 8X
---------------------------------------------------------------------------------------------------------------------
Q6         Capped Variable Rate Mortgage                      CB
---------------------------------------------------------------------------------------------------------------------
Q7         Discount for Life Variable Rate Mortgage           L1 and L2
---------------------------------------------------------------------------------------------------------------------
Q8         Discount for Life Variable Rate Mortgage           L3 and L4
---------------------------------------------------------------------------------------------------------------------
Q9         Discount for Life Variable Rate Mortgage           L5 and L6
---------------------------------------------------------------------------------------------------------------------
Q10        Discount for Life Variable Rate Mortgage           L7 and L8
---------------------------------------------------------------------------------------------------------------------
Q11        Discount for Life Variable Rate Mortgage           1L and 2L
---------------------------------------------------------------------------------------------------------------------
Q12        Discount for Life Variable Rate Mortgage           3L and 4L
---------------------------------------------------------------------------------------------------------------------
Q13        Discount for Life Variable Rate Mortgage           5L and 6L
---------------------------------------------------------------------------------------------------------------------
Q14        4 year Capped Variable Rate Mortgage               EG
---------------------------------------------------------------------------------------------------------------------
Q15        4 year Capped Variable Rate Mortgage               EF
---------------------------------------------------------------------------------------------------------------------
Q16        4 year Capped Variable Rate Mortgage               ER
---------------------------------------------------------------------------------------------------------------------
Q17        Discount for Life Variable Rate Mortgage           8L
---------------------------------------------------------------------------------------------------------------------
Q18        4 year Capped Variable Rate Mortgage               EQ
---------------------------------------------------------------------------------------------------------------------
Q19        4 year Capped Variable Rate Mortgage               EQ
---------------------------------------------------------------------------------------------------------------------
Q20        Equity Release Capped Variable Rate Mortgage       YB
---------------------------------------------------------------------------------------------------------------------
Q21        5 year Capped Variable Rate Mortgage               EY
---------------------------------------------------------------------------------------------------------------------
Q22        Discount for Life Variable Rate Mortgage           9L and 0L
---------------------------------------------------------------------------------------------------------------------
Q23        Discount for Life Variable Rate Mortgage           DX
---------------------------------------------------------------------------------------------------------------------
Q24        Discount for Life Variable Rate Mortgage           DY
---------------------------------------------------------------------------------------------------------------------

                                      51
<PAGE>
---------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
---------------------------------------------------------------------------------------------------------------------
Q25        Discount for Life Variable Rate Mortgage           DX and DY
---------------------------------------------------------------------------------------------------------------------
Q26        Discount for Life Variable Rate Mortgage           HG
---------------------------------------------------------------------------------------------------------------------
Q27        Discount for Life Variable Rate Mortgage           HH
---------------------------------------------------------------------------------------------------------------------
Q28        Discount for Life Variable Rate Mortgage           HQ
---------------------------------------------------------------------------------------------------------------------
Q29        Discount for Life Variable Rate Mortgage           HV
---------------------------------------------------------------------------------------------------------------------
Q30        Tracker Variable Rate Mortgage                     YT
---------------------------------------------------------------------------------------------------------------------
Q31        Tracker Variable Rate Mortgage                     YU
---------------------------------------------------------------------------------------------------------------------
Q32        Tracker Variable Rate Mortgage                     YW
---------------------------------------------------------------------------------------------------------------------
Q33        Tracker Variable Rate Mortgage                     YX
---------------------------------------------------------------------------------------------------------------------
Q34        Discount for Life Variable Rate Mortgage           JP
---------------------------------------------------------------------------------------------------------------------
Q35        2 year Capped Variable Rate Mortgage               MV
---------------------------------------------------------------------------------------------------------------------
Q36        2 year Capped Variable Rate Mortgage               MW
---------------------------------------------------------------------------------------------------------------------
Q37        Discount for Life Variable Rate Mortgage           HR
---------------------------------------------------------------------------------------------------------------------
Q38        2 year Capped Variable Rate Mortgage               EM
---------------------------------------------------------------------------------------------------------------------
Q39        CAT Standard Variable Mortgage                     [SJB/08/11/00]      [Query the reference]
---------------------------------------------------------------------------------------------------------------------
Q40        2 year Tracker Variable Rate Mortgage              ER                  ?
---------------------------------------------------------------------------------------------------------------------
Q41        CAT Standard Variable Mortgage                                         from 9 Jan 2003
---------------------------------------------------------------------------------------------------------------------
Q42        2 year Flexible Fixed (extending Early Repayment                       from 9 Jan 2003
           Charge)
---------------------------------------------------------------------------------------------------------------------
Q43        2 year Flexible Fixed (extending Early Repayment                       from 9 Jan 2003
           Charge - no Help with Costs option)
---------------------------------------------------------------------------------------------------------------------
Q44        2 year Flexible Fixed                                                  from 9 Jan 2003
---------------------------------------------------------------------------------------------------------------------
Q45        2 year Flexible Fixed (no Help with Costs option)                      from 9 Jan 2003
---------------------------------------------------------------------------------------------------------------------
Q46        3 year Flexible Fixed                                                  from 9 Jan 2003
---------------------------------------------------------------------------------------------------------------------
Q47        5 year Flexible Fixed                                                  from 9 Jan 2003
---------------------------------------------------------------------------------------------------------------------
Q48        Help with Costs Special Condition Wording (2
           versions)
---------------------------------------------------------------------------------------------------------------------
R          Credit/Loan Agreements
---------------------------------------------------------------------------------------------------------------------
R1         Credit Agreement Regulated by the Consumer         ACR1A/1097 on       From Oct 1997
           Credit Act 1974 - Flexible Plan                    "Original"
           ("Original" and "Copy" versions each with          ACR1B/1097 on
           Conditions on the reverse)                         "Copy"
           Northern Rock plc                                  ACR1Z/1097 on
           [Used for Flexible Plan Loans up to (GBP)25,000]   "Conditions"
---------------------------------------------------------------------------------------------------------------------
R2         Copy of Proposed Agreement Containing Your Right   ACR1Z/1097 on       From Oct 1997
           to Withdraw - Flexible Plan                        "Conditions"
           (including Conditions on the reverse)
           Northern Rock plc
           [Used for Flexible Plan Loans up to (GBP)25,000]
---------------------------------------------------------------------------------------------------------------------
R3         Loan Agreement - Flexible Plan                     [ACR2A/1097 on      From Oct 1997
           (including Conditions on the reverse)              "Original" /        [Check reference of "Original"]
           Northern Rock plc                                  "Copy"?]
           [Used for Flexible Plan Loans over (GBP)25,000]    ACR2Z/1097 on
                                                              "Conditions"
---------------------------------------------------------------------------------------------------------------------

                                      52
<PAGE>
---------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
---------------------------------------------------------------------------------------------------------------------
R4         Credit Agreement Regulated by the Consumer         ADV135 10/97 on     From Oct 1997
           Credit Act 1974 - Personal Secured Loan            "Original" and
           ("Original" and "Copy" versions each with          "Copy"
           Conditions on the reverse)                         no ref on
           Northern Rock plc                                  "Conditions")
           [Used for Personal Secured Loans up to
           (GBP)25,000 - Variable Rate]
---------------------------------------------------------------------------------------------------------------------
R5         Copy of Proposed Credit Agreement Containing       ADV135 10/97 on     From Oct 1998
           Notice of Your Right to Withdraw - Personal        "Advance Copy"
           Secured Loan                                       no ref on
           ("Advance Copy" version including Conditions on    "Conditions")
           the reverse)
           Northern Rock plc
           [Used for Personal Secured Loans up to
           (GBP)25,000 - Variable Rate]
---------------------------------------------------------------------------------------------------------------------
R6         Credit Agreement Regulated by the Consumer         ADV135 10/97 on     From Feb 1998
           Credit Act 1974 - Personal Secured Loan            "Original" and
           ("Original" and "Copy" versions each with          "Copy"
           Conditions on the reverse)                         ADV135 /02.98 on
           Northern Rock plc                                  "Conditions")
           [Used for Personal Secured Loans up to
           (GBP)25,000 - Variable Rate]
---------------------------------------------------------------------------------------------------------------------
R7         Credit Agreement Regulated by the Consumer         MAR 126 6/98 on     From Jun 1998
           Credit Act 1974                                    "Original" and
           ("Original" and "Copy" versions including          "Copy" no ref on
           Conditions on the reverse)                         "Conditions"
           Northern Rock plc
           [Used for Personal Secured Loans up to
           (GBP)25,000 - Fixed Rate]
---------------------------------------------------------------------------------------------------------------------
R8         Copy of Proposed Credit Agreement Containing       MAR 126 6/98 on     From Jun 1998
           Notice of Your Right to Withdraw                   "Advance Copy"
           ("Advance Copy" version including Conditions on    no ref on
           the reverse)                                       "Conditions"
           Northern Rock plc
           [Used for Personal Secured Loans up to
           (GBP)25,000 - Fixed Rate]
---------------------------------------------------------------------------------------------------------------------
R9         Copy of Proposed Agreement Containing Your Right   ACR2A/1097 on       From Mar 2000
           to Withdraw - Flexible Plan                        "Original"
           (including Conditions on the reverse)              ACR2Z/0300 on
           Northern Rock plc                                  "Conditions"
           [Used for Flexible Plan Loans up to (GBP)25,000]
---------------------------------------------------------------------------------------------------------------------
R10        Credit Agreement Regulated by the Consumer         MAR 126 4/00 on     From Apr 2000
           Credit Act 1974                                    "Original" no
           ("Original" version including Conditions on the    ref on
           reverse) Northern Rock plc [Used for               "Conditions"
           Personal Secured Loans up to (GBP)25,000 - Fixed
           Rate]
---------------------------------------------------------------------------------------------------------------------
R11        Credit Agreement Regulated by the Consumer         CA135A/0900 on      From Sep 2000
           Credit Act 1974                                    "Original"
           ("Original" and "Copy" versions each with          CA135B/0900 on
           Conditions on the reverse)                         "Copy"
           Northern Rock plc                                  CA135Z/0900 on
           [Used for Personal Secured Loans up to             "Conditions"
           (GBP)25,000 - Variable Rate]
---------------------------------------------------------------------------------------------------------------------

                                      53
<PAGE>

---------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
---------------------------------------------------------------------------------------------------------------------
R12        Copy of Proposed Agreement Containing Notice of    CA135C/0900 on      From Sep 2000
           Your Right to Withdraw                             "Advance Copy"
           ("Advance Copy" version with Conditions on the     CA135Z/0900 on
           reverse)                                           "Conditions"
           Northern Rock plc
           [Used for Personal Secured Loans up to
           (GBP)25,000 - Variable Rate]
---------------------------------------------------------------------------------------------------------------------
R13        Credit Agreement Regulated by the Consumer         CA126A/0900 on      From Sep 2000
           Credit Act 1974                                    "Original"
           ("Original" and "Copy" versions each with          CA126B/0900 on
           Conditions on the reverse)                         "Copy"
           Northern Rock plc                                  CA126Z/0900 on
           [Used for Personal Secured Loans - Variable Rate]  "Conditions"
---------------------------------------------------------------------------------------------------------------------
R14        Copy of Proposed Agreement Containing Notice of    CA126C/0900 on      From Sep 2000
           Your Right to Withdraw                             "Advance Copy"
           ("Advance Copy" version with Conditions on the     CA126Z/0900 on
           reverse)                                           "Conditions"
           Northern Rock plc
           [Used for Personal Secured Loans - Variable Rate]
---------------------------------------------------------------------------------------------------------------------
R15        Credit Agreement Regulated by the Consumer         ACR1A/1000 on       From Oct 2000
           Credit Act 1974 - Flexible Plan                    "Original"
           ("Original" and "Copy" versions each with          ACR1B/1097 on
           Conditions on the reverse)                         "Copy"
           Northern Rock plc                                  ACR1Z/1097 on
           [Used for Flexible Plan Loans up to (GBP)25,000]   "Conditions"
---------------------------------------------------------------------------------------------------------------------
R16        Loan Agreement - Flexible Plan                     ACR2B/1000 on       From Oct 2000
           ("Original" version with Conditions on the         "Original"
           reverse)                                           ACR2Z/1000 on
           Northern Rock plc                                  "Conditions"
           [Used for Flexible Plan Loans over (GBP)25,000]
---------------------------------------------------------------------------------------------------------------------
R17        Loan Agreement - Flexible Plan                     ACR2C/1000 on       From Oct 2000
           ("Original" version with Conditions on the         "Original"
           reverse)                                           ACR2Z/1000 on
           Northern Rock plc                                  "Conditions"
           [Used for Flexible Plan Loans over (GBP)25,000]
---------------------------------------------------------------------------------------------------------------------
S          Mortgage Deeds - General
---------------------------------------------------------------------------------------------------------------------
S1         Mortgage Deed (HMLR filing ref MD 144 E)           SEC 8/11.93         From Nov 1993
           Northern Rock Building Society
---------------------------------------------------------------------------------------------------------------------
S2         Mortgage Deed (HMLR filing ref MD 144 F)           SEC 8/06.95         From Jun 1995
           Northern Rock Building Society
---------------------------------------------------------------------------------------------------------------------
S3         Mortgage Deed (HMLR filing ref MD542A)             SEC 8T /08.97       From Aug 1997
           Northern Rock Building Society/Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
S4         Mortgage Deed (HMLR filing ref MD542A)             SEC 8 /10.97        From Oct 1997
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
S5         Mortgage Deed (HMLR filing ref MD542B)             SEC 8 /10.97        From Oct 1997
           Northern Rock plc [Old logo]
---------------------------------------------------------------------------------------------------------------------
S6         Mortgage Deed (HMLR filing ref MD542B)             SEC 8 /10.97        From Oct 1997
           Northern Rock plc [New logo]
---------------------------------------------------------------------------------------------------------------------
S7         Mortgage Deed (HMLR filing ref MD691A)             SEC 070 07/01       From July 2001
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------

                                      54
<PAGE>

---------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
---------------------------------------------------------------------------------------------------------------------
S8         Mortgage Deed - Standard (HMLR filing ref MD691D)  SOL 11 07/01        From July 2001
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
T          Mortgage Deeds - Specialist
---------------------------------------------------------------------------------------------------------------------
T1         Mortgage Deed (HMLR filing ref MD 144 G)           SEC 54/06/95        From Jun 1995
           Northern Rock Building Society
           [Used for Flexible Plan - Non-CCA Loans]
---------------------------------------------------------------------------------------------------------------------
T2         Mortgage Deed (relating to a Regulated Agreement   SEC 52/06/95        From Jun 1995
           under the Consumer Credit Act 1974) (HMLR filing
           ref MD 144 H) Northern Rock Building Society
           [Used for Flexible Plan CCA Loans]
---------------------------------------------------------------------------------------------------------------------
T3         Mortgage Deed (HMLR filing ref MD 144 J)           SEC 44/06/95        From Jun 1995
           Northern Rock Building Society
           [Used for Flexible Plan - Non-CCA Loans]
---------------------------------------------------------------------------------------------------------------------
T4         Mortgage Deed (relating to a Regulated Agreement   SEC 52. 10/97       From Oct 1997
           under the Consumer Credit Act 1974) (HMLR filing
           ref MD 542 M) Northern Rock plc [Used for Flexible
           Plan CCA Loans]
---------------------------------------------------------------------------------------------------------------------
T5         Mortgage Deed (HMLR filing ref MD 542 L)           SEC 44. 10/97       From Oct 1997
           Northern Rock plc
           [Used for Flexible Plan - Non-CCA Loans]
---------------------------------------------------------------------------------------------------------------------
T6         Mortgage Deed (HMLR filing ref 542 N)              SEC 54. 10/97       From Oct 1997
           Northern Rock plc
           [Used for Flexible Plan - Non-CCA Loans]
---------------------------------------------------------------------------------------------------------------------
T7         Deed of Variation of Mortgage and Receipt for      SEC 40. 10/97       From Oct 1997
           Further Advance (HMLR filing ref MD 542 P)
           Northern Rock plc
---------------------------------------------------------------------------------------------------------------------
T8         Mortgage Deed (HMLR filing ref MD542 N)            SEC 54. 04.98       From Apr 1998
           Northern Rock plc
           [Used for Flexible Plan - Non-CCA Loans]
---------------------------------------------------------------------------------------------------------------------
T9         Mortgage Deed (relating to a Regulated Agreement   SEC 52. 03/00       From Mar 2000
           under the Consumer Credit Act 1974) (HMLR filing
           ref MD 542 M) Northern Rock plc [Used for Flexible
           Plan CCA Loans]
---------------------------------------------------------------------------------------------------------------------
T10        Mortgage Deed (HMLR filing ref MD 542L)            MD2/0900 on         From Sep 2000
           Northern Rock plc                                  cover and
           [Used for Flexible Plan - Non-CCA Loans]           MD2B/0900 on
                                                              reverse
---------------------------------------------------------------------------------------------------------------------
T11        Mortgage Deed (relating to a Regulated Agreement   MD1/0900 on         From Sep 2000
           under the Consumer Credit Act 1974)                cover and
           (HMLR filing ref MD 542 M)                         MD1B/0900 on
           Northern Rock plc                                  reverse
           [Used for Flexible Plan CCA Loans]
---------------------------------------------------------------------------------------------------------------------
T12        Mortgage Deed (HMLR filing ref MD 542 N)           MD3/0900            From Sep 2000
           Northern Rock plc
           [Used for Flexible Plan - Non-CCA Loans]
---------------------------------------------------------------------------------------------------------------------

                                      55
<PAGE>

---------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
---------------------------------------------------------------------------------------------------------------------
T13        Deed of Variation of Mortgage and Receipt for      SOL005 09/00        From Sep 2000.  Not used by
           Further Advance (HMLR filing ref MD 542 X)                             further advance dept.  Used by
           Northern Rock plc                                                      product transfer dept. where
                                                                                  borrower is switching product and
                                                                                  increasing borrowing at same time (only
                                                                                  used on older forms of mortgage conditions
                                                                                  switching from annual rest mortgage to a
                                                                                  daily rest version.
----------------------------------------------------------------------------------------------------------------------
T14        Deed of Variation of Mortgage and Receipt for      SOL008 09/00        From Sep 2000.  Not used by
           Further Advance (HMLR filing ref MD 542 Y)                             further advance dept.  Used by
           Northern Rock plc                                                      product transfer dept. where
                                                                                  borrower is switching product and
                                                                                  increasing borrowing at same time (only
                                                                                  used on older forms of mortgage conditions
                                                                                  switching from annual rest mortgage to a
                                                                                  daily rest version.
----------------------------------------------------------------------------------------------------------------------
T15        Deed of Variation of Mortgage and Receipt for      SEC071 July 2001    From Jul 2001
           Further Loan (HMLR filing ref MD 691 B)
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
T16        Deed of Variation of Mortgage and Receipt for      SOL012/ July 2001   From Jul 2001
           Further Loan (With Guarantor) (HMLR filing ref
           MD 691 C)
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
</TABLE>
               Part 3 Documents Used Only in the Origination of
                  Together and Together Connections Mortgages
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
<S>        <C>                                                <C>                 <C>
U          Brochures
----------------------------------------------------------------------------------------------------------------------
U1         [Picture of Two Forks on cover - 1] [Together]     MAR 172 2.99        From Feb 1999
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U2         [Picture of Two Forks on cover - 1] [Together]     MAR 189 3.99        From Mar 1999
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U3         [Picture of Two Forks on cover - 2] [Together]     MAR 237 14.6.99     From Jun 1999
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U4         together flexible - one loan one rate one call     MAR 272/9255        From Sep 1999
           [Together Flexible]                                15.9.99
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U5         together flexible - one loan one rate one call     MAR 273/9255        From Sep 1999
           -all you need to know [Together Flexible]          15.9.99
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U6         take control of your money and get more out of     MAR 305/9511        From Dec 1999
           life - together [Together]                         20.12.99
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U7         all you need to know - together [Together]         MAR 303/9511        From Dec 1999
           Northern Rock plc                                  20.12.99
----------------------------------------------------------------------------------------------------------------------
U8         together - a guide to costs [Together]             MAR 174 2.99        From Feb 1999
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------

                                      56
<PAGE>

----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
U9         [all you need to know - together] [Picture of      MAR 173 2.99        From Feb 1999
           intertwined flowers on cover] [Together]
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U10        together - a guide to costs [Together]             MAR 190 3.99        From Mar 1999
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U11        [all you need to know - together] [Picture of      MAR 192 3.99        From Mar 1999
           intertwined flowers on cover] [Together]
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U12        together - a guide to costs [Together]             MAR 238 14.6.99     From Jun 1999
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U13        [all you need to know - together] [Picture of      MAR 239 16.6.99     From Jun 1999
           intertwined flowers on cover] [Together]
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U14        together - a guide to costs [Together]             MAR 302/9511        From Dec 1999
           Northern Rock plc                                  20.12.99
----------------------------------------------------------------------------------------------------------------------
U15        together flexible - a guide to costs [Together     MAR 275/9255        From Sep 1999
           Flexible]                                          15.9.99
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U16        together - variable at only 6.6.9%pa 7.6%APR       MAR 306/9657        From Jan 2000
                                                              17.1.2000
----------------------------------------------------------------------------------------------------------------------
U17        What is it going to cost? [Together]               MAR 302/9662        From Mar 2000
           Northern Rock plc                                  4.3.2000
----------------------------------------------------------------------------------------------------------------------
U18        How does it work? [Together]                       MAR 303/9662        From Mar 2000
           Northern Rock plc                                  4.3.2000
----------------------------------------------------------------------------------------------------------------------
U19        I want it all [Together]                           MAR 305/9662        From Mar 2000
           Northern Rock plc                                  4.3.2000
----------------------------------------------------------------------------------------------------------------------
U20        What is it going to cost? [Together]               MAR 302/10028       From Apr 2000
           Northern Rock plc                                  27.4.2000
----------------------------------------------------------------------------------------------------------------------
U21        I want it all [Together]                           MAR 305/10028       From Apr 2000
           Northern Rock plc                                  27.4.2000
----------------------------------------------------------------------------------------------------------------------
U22        What is it going to cost? [Together]               MAR 302/10329       From Aug 2000
           Northern Rock plc                                  4.8.2000
----------------------------------------------------------------------------------------------------------------------
U23        How does it work? [Together]                       MAR303/10141        From Aug 2000
           Northern Rock plc                                  4.8.2000
----------------------------------------------------------------------------------------------------------------------
U24        I want it all [Together]                           MAR 305/10328       From Aug 2000
           Northern Rock plc                                  4.8.2000
----------------------------------------------------------------------------------------------------------------------
U25        What is it going to cost? [Together]               MAR 302/10521       From Oct 2000
           Northern Rock plc                                  2.10.2000
----------------------------------------------------------------------------------------------------------------------
U26        What is it going to cost? [Together]               MAR 302/10715       From Nov 2000
           Northern Rock plc                                  22.11.2000
----------------------------------------------------------------------------------------------------------------------
U27        How does it work? [Together]                       MAR 303/10716       From Nov 2000
           Northern Rock plc                                  22.11.2000
----------------------------------------------------------------------------------------------------------------------
U28        I want it all [Together]                           MAR 305/10717       From Nov 2000
           Northern Rock plc                                  22.11.2000
----------------------------------------------------------------------------------------------------------------------
U29        I want it all [Together]                           MAR 305/10953       From Feb 2001
           Northern Rock plc                                  1.2.2001
----------------------------------------------------------------------------------------------------------------------
U30        What is it going to cost? [Together]               MAR 302/10999       From Feb 2001
           Northern Rock plc                                  12.2.2001
----------------------------------------------------------------------------------------------------------------------

                                      57
<PAGE>
----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
U31        How does it work? [Together]                       MAR 303/11069       From Mar 2001
           Northern Rock plc                                  1.3.2001
----------------------------------------------------------------------------------------------------------------------
U32        Together what is it going to cost? 6th April       MAR 302 6.4.2001    From Apr 2001
           2001 [Together]
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U33        I want it all [Together]                           MAR 305/11172       From Apr 2001
           Northern Rock plc                                  6.4.2001
----------------------------------------------------------------------------------------------------------------------
U34        What's it going to cost? [Together Connections]    MAR 418/10935       From May 2001
           Northern Rock plc                                  1.5.2001
----------------------------------------------------------------------------------------------------------------------
U35        OK Shrink My Mortgage [Together Connections]       MAR 419/10935       From May 2001
           Northern Rock plc                                  1.5.2001
----------------------------------------------------------------------------------------------------------------------
U36        Together what is it going to cost? 10th May        MAR 302             From May 2001
           2001 [Together]                                    10.5.2001
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U37        What's it going to cost? [Together Connections]    MAR 418/11282       From May 2001
           Northern Rock plc                                  10.5.2001
----------------------------------------------------------------------------------------------------------------------
U38        How does it work? [Together]                       MAR 303/11290       From May 2001
           Northern Rock plc                                  10.5.2001
----------------------------------------------------------------------------------------------------------------------
U39        I want it all [Together]                           MAR 305/11289       From May 2001
           Northern Rock plc                                  10.5.2001
----------------------------------------------------------------------------------------------------------------------
U40        Now Things Get Really Interesting [Together        MAR 437/11251       From Jun 2001
           Connections]                                       01.6.2001
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U41        Together what is it going to cost? 22nd June       MAR 302 22.6.2001   From Jun 2001
           2001 [Together]
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U42        What's it going to cost? [Together Connections]    MAR 418/11457       From Jun 2001
           Northern Rock plc                                  22.6.2001
----------------------------------------------------------------------------------------------------------------------
U43        Together what is it going to cost? 2nd August      MAR 302 2.8.2001    From Aug 2001
           2001 [Together]
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U44        What's it going to cost? [Together Connections]    MAR 418/11593       From Aug 2001
           Northern Rock plc                                  2.8.2001
----------------------------------------------------------------------------------------------------------------------
U45        How does it work? [Together]                       MAR 303/11577       From Aug 2001
           Northern Rock plc                                  2.8.2001
----------------------------------------------------------------------------------------------------------------------
U46        OK Shrink My Mortgage [Together Connections]       MAR 419/11578       From Aug 2001
           Northern Rock plc                                  2.8.2001
----------------------------------------------------------------------------------------------------------------------
U47        I want it all [Together]                           MAR 305/11603       From Aug 2001
           Northern Rock plc                                  7.8.2001
----------------------------------------------------------------------------------------------------------------------
U48        Together what is it going to cost? 3rd             MAR 302 3.9.2001    From Sep 2001
           September 2001 [Together]
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U49        What's it going to cost? [Together Connections]    MAR 418/11706       From Sep 2001
           Northern Rock plc                                  3.9.2001
----------------------------------------------------------------------------------------------------------------------
U50        How does it work? [Together]                       MAR 303/11756       From Sep 2001
           Northern Rock plc                                  10.9.2001
----------------------------------------------------------------------------------------------------------------------

                                      58
<PAGE>
----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference            Usage period and notes
----------------------------------------------------------------------------------------------------------------------
U51        OK Shrink My Mortgage [Together Connections]       MAR 419/11758       From Sep 2001
           Northern Rock plc                                  10.9.2001
----------------------------------------------------------------------------------------------------------------------
U52        I want it all [Together]                           MAR 305/11756       From Sep 2001
           Northern Rock plc                                  10.9.2001
----------------------------------------------------------------------------------------------------------------------
U53        Together what is it going to cost? 19th            MAR 302 19.9.2001   From Sep 2001
           September 2001 [Together]
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U54        What's it going to cost? [Together Connections]    MAR 418/11706       From Sep 2001
           Northern Rock plc                                  19.9.2001
----------------------------------------------------------------------------------------------------------------------
U55        Together what is it going to cost? 4th October     MAR 302 4.10.2001   From Oct 2001
           2001 [Together]
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U56        What's it going to cost? [Together Connections]    MAR 418/11706       From Oct 2001
           Northern Rock plc                                  4.10.2001
----------------------------------------------------------------------------------------------------------------------
U57        Together what is it going to cost? 8th November    MAR 302 8.11.2001   From Nov 2001
           2001 [Together]
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U58        What's it going to cost? [Together Connections]    MAR 418/11706       From Nov 2001
           Northern Rock plc                                  8.11.2001
----------------------------------------------------------------------------------------------------------------------
U59        Together what is it going to cost? 5th December    MAR 302 5.12.2001   From Dec 2001
           2001 [Together]
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U60        What's it going to cost? [Together Connections]    MAR 418/11706       From Dec 2001
           Northern Rock plc                                  5.12.2001
----------------------------------------------------------------------------------------------------------------------
U61        How does it work? [Together]                       MAR 303/12190       From Jan 2002
           Northern Rock plc                                  8.1.2002
----------------------------------------------------------------------------------------------------------------------
U62        I need cash with my mortgage [Together]            MAR 522/12343       From Mar 2002
                                                              11.03.2002
----------------------------------------------------------------------------------------------------------------------
U63        Options for your together connections Mortgage     MAR 472/12369       From Mar 2002
           [Together Connections]                             15.3.2002
----------------------------------------------------------------------------------------------------------------------
U64        Together - what's it going to cost [Together]      MAR 302 20.3.2002   From Mar 2002
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U65        Together - what's it going to cost [Together]      MAR 302 10.5.2002   From May 2002
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U66        Together - what's it going to cost [Together]      MAR 302 26.7.2002   From Jul 2002
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U67        Together - what's it going to cost [Together]      MAR 302 06.8.2002   From Aug 2002
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U68        i want to shrink my mortgage [Together             MAR 419/12891       From Aug 2002
           Connections]                                       30.8.2002
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U69        What's it going to cost? [Together Connections]    MAR 418/11706       From Aug 2002
           Northern Rock plc                                  30.8.2002
----------------------------------------------------------------------------------------------------------------------
U70        Together - what's it going to cost [Together]      MAR 302 30.8.2002   From Aug 2002
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
U71        I need cash with my mortgage [Together]            MAR 522/12892       From Aug 2002
                                                              30.08.2002
----------------------------------------------------------------------------------------------------------------------
U72        What's it going to cost? [Together Connections]    MAR 418/11706       From Oct 2002
           Northern Rock plc                                  21.10.2002
----------------------------------------------------------------------------------------------------------------------

                                      59
<PAGE>

----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
U73        Together - what's it going to cost [Together]      MAR 302             From Oct 2002
           Northern Rock plc                                  21.10.2002
----------------------------------------------------------------------------------------------------------------------
U74        What's it going to cost? [Together Connections]    MAR 418/11706       From Nov 2002
           Northern Rock plc                                  08.11.2002
----------------------------------------------------------------------------------------------------------------------
U75        Together - what's it going to cost [Together]      MAR 302             From Nov 2002
           Northern Rock plc                                  08.11.2002
----------------------------------------------------------------------------------------------------------------------
U76        I want to shrink my mortgage                       MAR 625/13245       From 27 Nov 2002
           [Connections]
----------------------------------------------------------------------------------------------------------------------
U77        What's it going to cost?                           MAR 630/13245       From 27 Nov 2002
           [Connections]                                      27.11.2002
----------------------------------------------------------------------------------------------------------------------
U78        What's it going to cost?                           MAR 630/13499       From 10 Jan 2003
           [Connections]                                      10.01.2003
----------------------------------------------------------------------------------------------------------------------
U79        Together - what's it going to cost [Together]      MAR 302             From 10 Jan 2003
           Northern Rock plc                                  10.01.2003
----------------------------------------------------------------------------------------------------------------------
U80        Together - what's it going to cost [Together]      MAR 302             From 8 Feb 2003
           Northern Rock plc                                  08.02.2003
----------------------------------------------------------------------------------------------------------------------
U81        I need cash with my mortgage [Together]            MAR522/13728        Valid until further notice -
                                                              1.5.2003            1.5.2003
----------------------------------------------------------------------------------------------------------------------
U82        What's it going to cost?                           MAR302/             Valid until further notice -
                                                              8.8.2003            8.8.2003
----------------------------------------------------------------------------------------------------------------------
V          Mortgage Application Forms
----------------------------------------------------------------------------------------------------------------------
V1         Get It Together Application Form - Together        MAR176 2/99         From Feb 1999
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
V2         Get It Together Application Form - Together        MAR198 3/99         From Mar 1999
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
V3         Get It Together Application Form - Together        MAR242 6/99         From Jun 1999
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
V4         Get It Together Application Form - Together        MAR271/9255 and     From Sep 1999
           Flexible                                           9/99
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
V5         Get It Together Application Form - Together        MAR304/9511 and     From Dec 1999
           Northern Rock plc                                  12/99
----------------------------------------------------------------------------------------------------------------------
V6         Get It Together Application Form                   MAR304. 6/00        From Jun 2000
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
           NB From Aug 2002 the Mortgage Application Forms
           from L16 appear to also be used for the
           Together/Together Connections products.
----------------------------------------------------------------------------------------------------------------------
W          Together Credit/Loan Agreements
----------------------------------------------------------------------------------------------------------------------
W1         Credit Agreement Regulated by the Consumer         DDL1/0299 on        From Feb 1999
           Credit Act 1974 - Drawdown Loan -Original,         Original
           First and Second Copies (each with Terms and       DDL2/0299 on
           Conditions)                                        First Copy
           Northern Rock plc                                  DDL3/0299 on
           [Used for Together Flexible Loans up to            Second Copy
           (GBP)25,000]                                       DDLB/0299 on
                                                              Conditions
----------------------------------------------------------------------------------------------------------------------

                                      60
<PAGE>
----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
W2         Credit Agreement Regulated by the Consumer         TFCA1/1099 on       From Oct 1999
           Credit Act 1974 - Drawdown Loan - Original,        Original            [In conjunction with Together
           First Copy and Second Copy (each with Terms and    TFCA2/1099 on       Flexible Mortgages.
           Conditions)                                        First Copy
           Northern Rock plc                                  TFCA3/1099 on
           [Used for Together Flexible Loans up to            Second Copy
           (GBP)25,000]                                       TFCAB/1099 on
                                                              Conditions
----------------------------------------------------------------------------------------------------------------------
W3         Credit Agreement Regulated by the Consumer         TFIX1/0200 on       From Feb 2000
           Credit Act 1974 - Together Fixed - Original,       Original            [In conjunction with Together
           First Copy and Second Copy (each with Terms and    TFIX2/0200 on       Fixed Mortgages.]
           Conditions on reverse)                             First Copy
           Northern Rock plc                                  TFIX3/0200 on
           [Used for Together Fixed Loans up to               Second Copy
           (GBP)25,000]                                       TFIXB/0200 on
                                                              Conditions
----------------------------------------------------------------------------------------------------------------------
W4         Credit Agreement Regulated by the Consumer         TVCA1/0200 on       From Feb 2000
           Credit Act 1974 - Together Variable - Original,    Original            [In conjunction with Together
           First Copy and Second Copy (each with Terms and    TVCA2/0200 on       Variable Mortgages.]
           Conditions on reverse)                             First Copy
           Northern Rock plc                                  [TVCA3/0200?] on
           [Used for Together Variable Loans up to            Second Copy
           (GBP)25,000]                                       TVCAB/0200 on
                                                              Conditions
----------------------------------------------------------------------------------------------------------------------
W5         Credit Agreement Regulated by the Consumer         TVCA1/0200 on       From Jan 2001
           Credit Act 1974 - Together Variable - Original,    Original            [In conjunction with Together
           First Copy and Second Copy (each with Terms and    TVCA2/0200 on       Variable Mortgages.]
           Conditions on reverse)                             First Copy
           Northern Rock plc                                  [TVCA3/0200?] on
           [Used for Together Variable Loans up to            Second Copy
           (GBP)25,000]                                       TVCAB/0101 on
                                                              Conditions
----------------------------------------------------------------------------------------------------------------------
W6         Credit Agreement Regulated by the Consumer         TVCA1/0200 on       From May 2001
           Credit Act 1974 - Together Variable - Original,    Original            [In conjunction with Together
           First Copy and Second Copy (each with Terms and    TVCA2/0200 on       Variable Mortgages.]
           Conditions on reverse)                             First Copy
           Northern Rock plc                                  [TVCA3/0200?] on
           [Used for Together Variable Loans up to            Second Copy
           (GBP)25,000]                                       TVCAB/0501 on
                                                              Conditions
----------------------------------------------------------------------------------------------------------------------
W7         Credit Agreement Regulated by the Consumer         TVCA1/0200 on       From Aug 2001
           Credit Act 1974 - Together Variable - Original,    Original            [In conjunction with Together
           First Copy and Second Copy (each with Terms and    TVCA2/0200 on       Variable Mortgages.]
           Conditions on reverse)                             First Copy
           Northern Rock plc                                  [TVCA3/0200?] on
           [Used for Together Variable Loans up to            Second Copy
           (GBP)25,000]                                       TVCAB/0801 on
                                                              Conditions
----------------------------------------------------------------------------------------------------------------------

                                      61
<PAGE>
----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
W8         Credit Agreement Regulated by the Consumer         TVCA1/0200 on       From Aug 2001
           Credit Act 1974 - Together Variable - Original,    Original            [In conjunction with Together
           First Copy and Second Copy (each with Terms and    TVCA2/0200 on       Variable Mortgages.]
           Conditions on reverse)                             First Copy
           Northern Rock plc                                  [TVCA3/0200?] on
           [Used for Together Variable Loans up to            Second Copy
           (GBP)25,000]                                       TVCAB/1001 on
                                                              Conditions
----------------------------------------------------------------------------------------------------------------------
W9         Credit Agreement Regulated by the Consumer         CATC/0502 on        From May 2002
           Credit Act 1974 - Drawdown Loan -Original,         Original, First
           First and Second Copies (each with Terms and       Copy, Second
           Conditions)                                        Copy and on
           Northern Rock plc                                  Conditions
           [Used for Together Flexible Loans up to
           (GBP)25,000]
----------------------------------------------------------------------------------------------------------------------
W10        Credit Agreement Regulated by the Consumer         ABTC/0802 on        From Aug 2002
           Credit Act 1974 - Together Fixed - Original,       Original, First     [In conjunction with Together
           First Copy and Second Copy (each with Terms and    Copy, Second        Fixed Mortgages.]
           Conditions on reverse)                             Copy and on
           Northern Rock plc                                  Conditions
           [Used for Together Fixed Loans up to
           (GBP)25,000]
----------------------------------------------------------------------------------------------------------------------
W11        Credit Agreement Regulated by the Consumer         TVCAB/0902 on       From Sep 2002
           Credit Act 1974 - Together Variable - Original,    Original, First     [In conjunction with Together
           First Copy and Second Copy (each with Terms and    Copy, Second        Variable Mortgages.]
           Conditions on reverse)                             Copy and on
           Northern Rock plc                                  Conditions
           [Used for Together Variable Loans up to
           (GBP)25,000]
----------------------------------------------------------------------------------------------------------------------
W12        Credit Agreement Regulated by the Consumer         03/02 on            From Mar 2002
           Credit Act 1974 - Original, First Copy and         Original, First
           Second Copy                                        Copy and Second
           "MPU" Drawdown Loan Agreement                      Copy
           Northern Rock plc                                  CATC/0502 on
                                                              Conditions
----------------------------------------------------------------------------------------------------------------------
W13        Credit Agreement Regulated by the Consumer                             From Aug 2002
           Credit Act 1974 - Together Variable - Original,
           First Copy and Second Copy
           "MPU" Unsecured Loan Agreement
           Northern Rock plc
           [Incorporates "where applicable" Together
           Connection Conditions]
----------------------------------------------------------------------------------------------------------------------
W14        Credit Agreement Regulated by the Consumer         TFWT/0703           From July 2003
           Credit Act 1974 - Together Fixed with Tracker -
           Original, First Copy, Second Copy and Terms and
           Conditions
           Northern Rock plc
           [New version of Together Credit Agreement for
           Fixed Rate with Follow on BOE Tracker - Product
           first introduced 25.7.03.  Runs alongside
           existing Together (Variable & Fixed Rate
           versions) Credit Agreement]
----------------------------------------------------------------------------------------------------------------------
X          Conditions for Together products
           (including Together Connection Options - eg
           Savings Account Applications/ Agreements etc)
----------------------------------------------------------------------------------------------------------------------

                                      62
<PAGE>

----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
X1         Together Variable - Credit Card Application        [  ]                From [   ]
           (with Terms and Conditions on reverse)                                 [In conjunction with Together
           Northern Rock plc                                                      Variable Mortgages.
----------------------------------------------------------------------------------------------------------------------
X2         Together Variable - Credit Card Application        CV4/1000            From Oct 2000
           (with Terms and Conditions on reverse)                                 [In conjunction with Together
           Northern Rock plc                                                      Variable Mortgages.
                                                                                  [REQUEST BETTER COPY]
----------------------------------------------------------------------------------------------------------------------
X3         Northern Rock Credit Card Application Form         MAR 151/M9C         From Mar 1999
           (with Terms and Conditions)                        22.3.99
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
X4         Together Connection Conditions                     MAR422 1.5.01       From Jan 2001
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
X5         Northern Rock Mortgage Credit Card                 [CCL/80A/2]         From Mar 2001
           (with Terms and Conditions on reverse)             (CCL/ATA/2
           Northern Rock plc                                  15.3.2001 on
                                                              Conditions)
----------------------------------------------------------------------------------------------------------------------
X6         together connections Save Direct Terms and         MAR 435/11676       From May 2001
           Conditions                                         1.5.2001
----------------------------------------------------------------------------------------------------------------------
X7         together connections Current Account Terms and     MAR 436/11333       From May 2001
           Conditions                                         1.5.2001
----------------------------------------------------------------------------------------------------------------------
X8         Northern Rock Credit Card Application Form         MAR 341 9.7.2001    From Jul 2001
           (with Terms and Conditions on reverse)
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
X9         Options for Your together connection Mortgage      MAR 472/12369       From Mar 2002
           [leaflet]                                          15.3.2002
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
X10        Together Connection Conditions                     MAR 422 7.8.02      From Aug 2002
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
X10(a)     Together Connection Conditions                     MAR 631             From Nov 2002
           Northern Rock plc                                  27.11.02
----------------------------------------------------------------------------------------------------------------------
X11        Sample Special Conditions for Together                                 From 30 Aug 2002
           Connections Mortgage (incorporating Doc X4 by                          (including New Mortgage Product
           reference)                                                             Statement of Requirements memo)
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
X12        Sample Special Conditions for Together Mortgage                        From 30 Aug 2002
           (5 Year Flexible Tracker Rate)                                         (including New Mortgage Product
           Northern Rock plc                                                      Statement of Requirements memo)
----------------------------------------------------------------------------------------------------------------------
X13        Together Connection Savings Options Form           MAR 635/1.03        From Jan 2003
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
X14        Covering Letter to Borrower enclosing Together
           Connections Options Docs X9 and X13
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
X15        Sample Covering Letter to Borrower regarding       31 Oct 2002         Mr P Livingstone and Miss C M
           Completion of a Together Connections Loan                              Bell (App No 10374507)
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
X16        Sample Special Conditions for Together Variable                        from 9 Jan 2003
           loans
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------

                                      63
<PAGE>

----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
X17        Sample Special Conditions for Together                                 from 9 Jan 2003
           Connections mortgage loans - 5 year discounted
           tracker
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
X18        Sample Special Conditions for Together Fixed                           from 9 Jan 2003
           mortgage loans - 2, 3, 5 and 7 year fixed
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
X19        Sample Special Conditions for Together                                 from 9 Jan 2003
           Exclusives Fixed mortgage loans - 2, 3, 5 and 7
           year fixed
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
X20        Sample Special Conditions for Together                                 from 9 Jan 2003
           Exclusives mortgage loans
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
Y          Mortgage Deeds
----------------------------------------------------------------------------------------------------------------------
Y1         Mortgage Deed (HMLR filing ref MD 542Q)                                From Feb 1999
           Northern Rock plc [Together]
----------------------------------------------------------------------------------------------------------------------
Y2         Mortgage Deed (HMLR filing ref MD 542T)            SOL 1               From Oct 1999 ?
           Northern Rock plc [Together]
----------------------------------------------------------------------------------------------------------------------
Y3         Mortgage Deed (HMLR filing ref MD542Q)                                 From Feb 1999
           Northern Rock plc [Together]
----------------------------------------------------------------------------------------------------------------------
Y4         Mortgage Deed (HMLR filing ref MD542T)             SOL 1               From Oct 1999
           Northern Rock plc [Together Flexible]
----------------------------------------------------------------------------------------------------------------------
Y5         Mortgage Deed (HMLR filing ref MD542T)             SOL 1 08/00.        From Aug 2000
           Northern Rock plc [Together]
----------------------------------------------------------------------------------------------------------------------
Y6         Mortgage Deed (HMLR filing ref MD542Z)             SOL 1 02/01.        From Feb 2001
           Northern Rock plc [Together]
----------------------------------------------------------------------------------------------------------------------
Z          Supplementary Instructions to Solicitors
----------------------------------------------------------------------------------------------------------------------
Z1         [Together Mortgage - Reminder of documents to
           be sent with Report on Title]
----------------------------------------------------------------------------------------------------------------------
Z2         [Notice - Unsecured funds not available for        UE1/0700            From Jul 2000
           purchase of property]
----------------------------------------------------------------------------------------------------------------------
Z3         "Together" Flexible Loan Drawdown Loan
           Agreement - Addendum to Instructions to
           Solicitors/Licensed Conveyancers
           (with Certificate of Solicitor/Licensed
           Conveyancer on reverse)
----------------------------------------------------------------------------------------------------------------------
Z4         "Together" Flexible Loan Drawdown Loan
           Agreement - Addendum to Instructions to
           Solicitors/Licensed Conveyancers
           (with Certificate of Solicitor/Licensed
           Conveyancer on reverse)
----------------------------------------------------------------------------------------------------------------------
Z5         "Together" Flexible Loan Drawdown Loan             TFDA/0700           From Jul 2000
           Agreement - Addendum to Instructions to
           Solicitors/Licensed Conveyancers
           (with Certificate of Solicitor/Licensed
           Conveyancer on reverse)
----------------------------------------------------------------------------------------------------------------------

                                      64
<PAGE>
----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
Z6         "Together" Loan Drawdown Loan Agreement -          TFDA/0501           From May 2001
           Addendum to Instructions to Solicitors/Licensed
           Conveyancers
           (with Certificate of Solicitor/Licensed
           Conveyancer on reverse)
----------------------------------------------------------------------------------------------------------------------
Z7         Loan Drawdown Loan Agreement - Addendum to         A2S/0502            From May 2002
           Instructions to Solicitors/Licensed
           Conveyancers
           (refers to Together Connections Mortgages)
----------------------------------------------------------------------------------------------------------------------
Z8         Drawdown Loan Agreement - Addendum to              A2S/0702            From Jul 2002
           Instructions to Solicitors/Licensed
           Conveyancers
           (refers to Together Connections Mortgages)
----------------------------------------------------------------------------------------------------------------------
</TABLE>
                                      65
<PAGE>

                             Part 5 Personal Loans
<TABLE>
<CAPTION>

----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
AA         Personal Loans
----------------------------------------------------------------------------------------------------------------------
<S>        <C>                                                <C>                 <C>
AA1        Personal Loans - An Introduction                   DEV 376             From 1 Apr 1996
           Northern Rock Building Society                     01.4.1996
----------------------------------------------------------------------------------------------------------------------
AA2        Secured Personal Loans - An Introduction           DEV 456             From 1 Jul 1997
           Northern Rock Building Society                     01.7.1997
----------------------------------------------------------------------------------------------------------------------
AA3        NOT USED
----------------------------------------------------------------------------------------------------------------------
AA4        Secured Personal Loans - An Introduction           MAR 3               From 1 Oct 1997
           Northern Rock plc                                  01.10.1997
----------------------------------------------------------------------------------------------------------------------
AA5        Secured Personal Loans - An Introduction           MAR 3               From 15 Dec 1997
           Northern Rock plc                                  15.12.1997
----------------------------------------------------------------------------------------------------------------------
AA6        Secured Personal Loans - An Introduction           MAR 3               From 12 Feb 1998
           Northern Rock plc                                  12.2.1998
----------------------------------------------------------------------------------------------------------------------
AA7        Secured Personal Loans - An Introduction           MAR 3/8208          From 1 Jun 1998
           Northern Rock plc                                  01.06.1998
----------------------------------------------------------------------------------------------------------------------
AA8        Secured Personal Loans - An Introduction           MAR 3/9195          From 20 Aug 1999
           Northern Rock plc                                  20.8.1999
----------------------------------------------------------------------------------------------------------------------
AA9        Give me the Facts - Secured Loans Explained        MAR 3/9668          From 4 Mar 2000
           Northern Rock plc                                  04.3.2000
----------------------------------------------------------------------------------------------------------------------
AA10       Give me the Facts - Secured Loans Explained        MAR 3/11279         From 10 May 2001
           Northern Rock plc                                  10.5.2001
----------------------------------------------------------------------------------------------------------------------
AA11       Secured Loans Explained                            MAR 3/12506         From 4 May 2002
           Northern Rock plc                                  04.5.2002
----------------------------------------------------------------------------------------------------------------------
AA12       We can fix it - A Secured Personal Loan            MAR 124/8813        From 1 Jun 1998
           Northern Rock plc                                  01.6.1998
----------------------------------------------------------------------------------------------------------------------
AA13       We can fix it - A Secured Personal Loan            MAR 125/8664        From 22 Jan 1999
           Northern Rock plc                                  22.1.1999
----------------------------------------------------------------------------------------------------------------------
AA14       We can fix it - A Secured Personal Loan            MAR 125/9459        From 1 Nov 1999
           Northern Rock plc                                  01.11.1999
----------------------------------------------------------------------------------------------------------------------
AA15       We can fix it - A Secured Personal Loan            MAR 125/9714        From 17 Jan 2000
           Northern Rock plc                                  17.1.2000
----------------------------------------------------------------------------------------------------------------------
AA16       Let Me Plan Ahead - Secured Loans with a Fixed     MAR 125/11038       From 21 Feb 2001
           Rate                                               21.2.2001
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
AA17       Let Me Plan Ahead - Secured Loans with a Fixed     MAR 125/11216       From 6 Apr 2001
           Rate                                               06.4.2001
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
AA18       Let Me Plan Ahead - Secured Loans with a Fixed     MAR 125/11815       From 19 Sept 2001
           Rate                                               19.9.2001
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
AA19       I Want to Plan Ahead - Secured Loans with a        MAR 125/12507       From May 2002
           Fixed Rate                                         May 2002
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
AA20       Secured Personal Loans - A guide to costs          DEV 220             From 14 Jul 1995
           Northern Rock Building Society                     14.7.1995
----------------------------------------------------------------------------------------------------------------------
AA21       Secured Personal Loans - A guide to costs          DEV 220             From 16 Oct 1995
           Northern Rock Building Society                     16.10.1995
----------------------------------------------------------------------------------------------------------------------

                                      66
<PAGE>
----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
AA22       Secured Personal Loans - A guide to costs          DEV 220             From 28 Nov 1995
           Northern Rock Building Society                     28.11.1995
----------------------------------------------------------------------------------------------------------------------
AA23       Secured Personal Loans - A guide to costs          DEV 220             From 15 Feb 1995
           Northern Rock Building Society                     15.2.1996
----------------------------------------------------------------------------------------------------------------------
AA24       Secured Personal Loans - A guide to costs          DEV 376             From 1 Apr 1996
           Northern Rock Building Society                     01.4.1996
----------------------------------------------------------------------------------------------------------------------
AA25       Secured Personal Loans - A guide to costs          DEV 377             From 22 Apr 1996
           Northern Rock Building Society                     22.4.1996
----------------------------------------------------------------------------------------------------------------------
AA26       Secured Personal Loans - A guide to costs          DEV 377             From 25 Aug 1996
           Northern Rock Building Society                     25.8.1996
----------------------------------------------------------------------------------------------------------------------
AA27       Secured Personal Loans - A guide to costs          DEV 377             From 23 Oct 1996
           Northern Rock Building Society                     23.10.1996
----------------------------------------------------------------------------------------------------------------------
AA28       Secured Personal Loans - A guide to costs          DEV 377             From 3 Jan 1997
           Northern Rock Building Society                     03.1.1997
----------------------------------------------------------------------------------------------------------------------
AA29       Secured Personal Loans - A guide to costs          DEV 377             From 1 Mar 1997
           Northern Rock Building Society                     01.3.1997
----------------------------------------------------------------------------------------------------------------------
AA30       Secured Personal Loans - A guide to costs          DEV 377             From 7 Apr 1997
           Northern Rock Building Society                     07.4.1997
----------------------------------------------------------------------------------------------------------------------
AA31       Secured Personal Loans - A guide to costs          DEV 377             From 1 May 1997
           Northern Rock Building Society                     01.5.1997
----------------------------------------------------------------------------------------------------------------------
AA32       Secured Personal Loans - A guide to costs          DEV 457             From 23 Jul 1997
           Northern Rock Building Society                     23.7.1997
----------------------------------------------------------------------------------------------------------------------
AA33       Secured Personal Loans - A guide to costs          DEV 457             From 18 Aug 1997
           Northern Rock plc                                  18.8.1997
----------------------------------------------------------------------------------------------------------------------
AA34       Secured Personal Loans - A guide to costs          MAR 4               From 1 Oct 1997
           Northern Rock plc                                  01.10.1997
----------------------------------------------------------------------------------------------------------------------
AA35       Secured Personal Loans - A guide to costs          MAR 4               From 1 Dec 1997
           Northern Rock plc                                  01.12.1997
----------------------------------------------------------------------------------------------------------------------
AA36       Secured Personal Loans - A guide to costs          MAR 4/8208          From 1 Jun 1998
           Northern Rock plc                                  01.6.1998
----------------------------------------------------------------------------------------------------------------------
AA37       Secured Personal Loans - A guide to costs          MAR 4/8267          From 3 Jul 1998
           Northern Rock plc                                  03.7.1998
----------------------------------------------------------------------------------------------------------------------
AA38       Secured Personal Loans - A guide to costs          MAR 4/8748          From 1 Jan 1999
           Northern Rock plc                                  01.2.1999
----------------------------------------------------------------------------------------------------------------------
AA39       Secured Personal Loans - A guide to costs          MAR 4/9155          From 24 Jul 1999
           Northern Rock plc                                  24.7.1999
----------------------------------------------------------------------------------------------------------------------
AA40       Secured Personal Loans - A guide to costs          MAR 4/9358          From 1 Oct 1999
           Northern Rock plc                                  01.10.1999
----------------------------------------------------------------------------------------------------------------------
AA41       Secured Personal Loans - A guide to costs          MAR 4/9680          From 5 Feb 2000
           Northern Rock plc                                  05.2.2000
----------------------------------------------------------------------------------------------------------------------
AA42       Give me the figures - Secured Loan Costs in        MAR 4/9668          From 4 Mar 2000
           Black and White                                    04.3.2000
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
AA43       Give me the figures - Secured Loan Costs in        MAR 4/11007         From 3 Mar 2001
           Black and White                                    03.3.2001
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
AA44       Give me the figures - Secured Loan Costs in        MAR 4/11138         From 1 May 2001
           Black and White                                    01.5.2001
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------

                                      67
<PAGE>
----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
AA45       Give me the figures - Secured Loan Costs in        MAR 4/11313         From 10 May 2001
           Black and White                                    10.5.2001
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
AA46       Give me the figures - Secured Loan Costs in        MAR 4/11619         From 1 Sept 2001
           Black and White                                    01.9.2001
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
AA47       Give me the figures - Secured Loan Costs in        MAR 4/11814         From 6 Oct 2001
           Black and White                                    06.10.2001
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
AA48       Give me the figures - Secured Loan Costs in        MAR 4/12015         From 8 Nov 2001
           Black and White                                    08.11.2001
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
AA49       Give me the figures - Secured Loan Costs in        MAR 4/12449         From 1 Dec 2001
           Black and White                                    01.12.2001
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
AA50       Secured Loans - Costs in Black and White           MAR4/13517          Valid until further notice
           Northern Rock plc                                  8.2.03              8.2.03
----------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>

                         Part 5 Non-material documents

----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
BB
----------------------------------------------------------------------------------------------------------------------
<S>        <C>                                                <C>                 <C>
BB1        Instructions to Solicitors - Fixed Sum Plan        ADV 269 5.98        From May 1998
           (Scotland)
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
BB2        Instructions to Solicitors - Fixed Sum Plan        ADV 269a 5.98       From May 1998
           (Scotland)
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
BB3        Deed of Variation of Security and Receipt for      SOL009 09/00        From Sep 2000.  Not used by
           Further Advance (Scotland)                                             further advance dept.  Used by
           Northern Rock plc                                                      product transfer dept. where
                                                                                  borrower is switching product and
                                                                                  increasing borrowing at same time (only
                                                                                  used on older forms of mortgage conditions
                                                                                  switching from annual rest mortgage to a
                                                                                  daily rest version.
----------------------------------------------------------------------------------------------------------------------
BB4        Help Me Buy to Let - Mortgages for Landlords       MAR 466/11665       From 3 Sep 2001
           Northern Rock plc                                  03.9.2001
----------------------------------------------------------------------------------------------------------------------
BB5        Help Me Buy to Let - Mortgages for Landlords       MAR 466/11794       From 19 Sep 2001
           Northern Rock plc                                  19.9.2001
----------------------------------------------------------------------------------------------------------------------
BB6        Help Me Buy to Let - Mortgages for Landlords       MAR 466/11856       From 4 Oct 2001
           Northern Rock plc                                  04.10.2001
----------------------------------------------------------------------------------------------------------------------
BB7        Help Me Buy to Let - Mortgages for Landlords       MAR 466/11974       From 8 Nov 2001
           Northern Rock plc                                  08.11.2001
----------------------------------------------------------------------------------------------------------------------
BB8        Help Me Buy to Let - Mortgages for Landlords       MAR 466/12222       From 7 Jan 2002
           Northern Rock plc                                  07.1.2002
----------------------------------------------------------------------------------------------------------------------

                                      68
<PAGE>
----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
BB9        I want to buy to let - Mortgages for Landlords     MAR 466/12470       From 20 Mar 2002
           Northern Rock plc                                  20.3.2002
----------------------------------------------------------------------------------------------------------------------
BB10       I want to buy to let - Mortgages for Landlords     MAR 466/12645       From 10 May 2002
           Northern Rock plc                                  10.5.2002
----------------------------------------------------------------------------------------------------------------------
BB11       I want to buy to let - Mortgages for Landlords     MAR 466/12861       From 26 Jul 2002
           Northern Rock plc                                  26.7.2002
----------------------------------------------------------------------------------------------------------------------
BB12       I want to buy to let - Mortgages for Landlords     MAR 466/12861       From 6 Aug 2002
           Northern Rock plc                                  06.8.2002
----------------------------------------------------------------------------------------------------------------------
BB13       I want to buy to let - Mortgages for Landlords     MAR 466/13148       From 21 Oct 2002
           Northern Rock plc                                  21.10.2002
----------------------------------------------------------------------------------------------------------------------
BB14       I want to buy to let - Mortgages for Landlords     MAR 466/13232       From 8 Nov 2002
           Northern Rock plc                                  08.11.2002
----------------------------------------------------------------------------------------------------------------------
BB15       Sample Special Conditions for Bradford &                               From 9 Jan 2003
           Bingley Together Exclusives (Variable)
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
BB16       Sample Special Conditions for Bradford &                               From 9 Jan 2003
           Bingley Together Exclusives Fixed mortgage
           loans - 2, 3, 5 and 7 year fixed
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
BB17       Sample Special Conditions for Buy to Let 2 year                        From 9 Jan 2003
           Fixed Rate
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
BB18       Sample Special Conditions for Buy to Let 1.5%                          From 9 Jan 2003
           5 year Tracker
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
BB19       Sample Wording - Buy to Let - Help With Costs
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
BB20       Sample Special Conditions for HERM Cashplus                            From 9 Jan 2003
           Fixed and Capped/ Exclusive HERM Cashplus Fixed
           and Capped/SIFA HERM Cashplus Fixed and Capped
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
BB21       Sample Special Conditions for HERM Standard                            From 9 Jan 2003
           Fixed and Capped/ HERM Standard Fixed and
           Capped Exclusives/ SIFA HERM Standard Fixed and
           Capped
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
BB22       Sample Special Conditions for Legal & General                          From 9 Jan 2003
           Together Exclusives (Variable)
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
BB23       Sample Special Conditions for Legal & General                          From 9 Jan 2003
           Together Exclusives Fixed mortgage loans - 2,
           3, 5 and 7 year fixed
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
BB24       I want to buy to let                               MAR 466/13372       From 10 Jan 2003
           Northern Rock plc                                  10.01.2003
----------------------------------------------------------------------------------------------------------------------
BB25       Confirmation of Identity                           Jan 2002            From Jan 2002
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
BB26       Confirmation of Identity                           Sept 2002           From Sept 2002
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------

                                      69
<PAGE>
----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
BB27       Confirmation of Identity                           28 Jan 2003         From 28 Jan 2003
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
BB28       I need you to be there sometimes [insurance]       MAR 389/12958       From Sept 2002
           Northern Rock plc
----------------------------------------------------------------------------------------------------------------------
</TABLE>

               Part 6 Documents Used Only in the Origination of
                             Connections Mortgages
<TABLE>
<CAPTION>

----------------------------------------------------------------------------------------------------------------------
SABW       Document                                           Reference           Usage period and notes
----------------------------------------------------------------------------------------------------------------------
CC         Brochures
----------------------------------------------------------------------------------------------------------------------
<S>        <C>                                                <C>                 <C>
CC1        Connections - Current Account Terms and            MAR 634/13347       Valid until further notice -
           Conditions - Small but important                   27.11.2002          27.11.2002
----------------------------------------------------------------------------------------------------------------------
CC2        Connections - Save Direct Terms and Conditions     MAR 633/13347       Valid until further notice -
           - Small but important                              27.11.2002          27.11.2002
----------------------------------------------------------------------------------------------------------------------
CC3        Mortgages - Options for your Connections           MAR 632/13363       Valid until further notice -
           Mortgage                                           27.11.2002          27.11.2002
----------------------------------------------------------------------------------------------------------------------
CC4        Mortgages - I Want to Shrink my Mortgage           MAR 625/13245       Valid until further notice -
                                                              27.11.2002          27.11.2002
----------------------------------------------------------------------------------------------------------------------
CC5        Connections - What's it going to Cost?             MAR 630/13833       Valid until further notice -
                                                              18.6.2003           18.6.2003
----------------------------------------------------------------------------------------------------------------------
CC6        Connections - What's it going to Cost?             MAR 630/13833       Valid until further notice -
                                                              14.7.2003           14.7.2003
----------------------------------------------------------------------------------------------------------------------
CC7        Connections - What's it going to Cost?             MAR 630/13833       Valid until further notice -
                                                              25/7/2003           25.7.2003
----------------------------------------------------------------------------------------------------------------------
DD         Mortgage Application Forms
----------------------------------------------------------------------------------------------------------------------
DD1
----------------------------------------------------------------------------------------------------------------------
EE         Connections Credit/Loan Agreements
----------------------------------------------------------------------------------------------------------------------
EE1
----------------------------------------------------------------------------------------------------------------------
FF         Conditions for Connections products
           (eg Savings Account Applications/ Agreements
           etc)
----------------------------------------------------------------------------------------------------------------------
FF1        Connections Conditions                             MAR 631             27.11.02
----------------------------------------------------------------------------------------------------------------------
GG         Mortgage Deeds
----------------------------------------------------------------------------------------------------------------------
GG1
----------------------------------------------------------------------------------------------------------------------
HH         Supplementary Instructions to Solicitors
----------------------------------------------------------------------------------------------------------------------
HH1
----------------------------------------------------------------------------------------------------------------------
II         Miscellaneous Mortgage Documents
----------------------------------------------------------------------------------------------------------------------
II1        Connections Savings Options Form                   MAR 635/1.03        Jan 2003
----------------------------------------------------------------------------------------------------------------------
II2        Memo re New Mortgage Product Statement of                              11 Aug 2003
           Requirements - Connections 7 Year Flexible
           Discount Tracker
----------------------------------------------------------------------------------------------------------------------
II3        Pro forma of Covering Letter to customers          Ref: CUSTADMIN/JW   2 Sep 2003
           enclosing Connections Pack
----------------------------------------------------------------------------------------------------------------------
</TABLE>

                                      70
<PAGE>

SIGNATORIES

SIDLEY AUSTIN BROWN & WOOD

By:

ALLEN & OVERY

By:

                                      71

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00057-of-00352.parquet"}]]