Document:

Exhibit 4.4.2

                                                             EXECUTION VERSION

                            Dated 24 January, 2007

                           GRANITE MASTER ISSUER PLC
                               as Master Issuer

                               BARCLAYS BANK PLC
                       as a New Issuer Secured Creditor

                                 HSBC BANK PLC
                       as a New Issuer Secured Creditor

                       ABN AMRO BANK N.V., LONDON BRANCH
                       as a New Issuer Secured Creditor

                             THE BANK OF NEW YORK
                  as Note Trustee and Issuer Security Trustee

                                    - and -

                                    OTHERS

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

                           ISSUER DEED OF ACCESSION

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

                                 SIDLEY AUSTIN
                               WOOLGATE EXCHANGE
                             25 BASINGHALL STREET
                                LONDON EC2V 5HA
                            TELEPHONE 020 7360 3600
                            FACSIMILE 020 7626 7937

<PAGE>

                                   CONTENTS

1.    INTERPRETATION.........................................................2

2.    REPRESENTATIONS AND WARRANTIES.........................................3

3.    ACCESSION..............................................................3

4.    SCOPE OF THE ISSUER DEED OF CHARGE.....................................3

5.    APPLICATION............................................................4

6.    NOTICES................................................................4

7.    THIRD PARTY RIGHTS.....................................................5

8.    EXECUTION IN COUNTERPARTS..............................................5

9.    GOVERNING LAW..........................................................5

<PAGE>

THIS DEED is made on 24 January, 2007

BETWEEN:

(1)   GRANITE MASTER ISSUER PLC (registered number 5250668) a public limited
      company incorporated under the laws of England and Wales whose
      registered office is at Fifth Floor, 100 Wood Street, London EC2V 7EX as
      Master Issuer;

(2)   THE BANK OF NEW YORK, a New York banking corporation whose London branch
      address is at 40th Floor, One Canada Square, London E14 5AL, United
      Kingdom, in its capacity as (1) Issuer Security Trustee and (2) Note
      Trustee;

(3)   CITIBANK, N.A., acting through its office at Citigroup Centre, Canada
      Square, Canary Wharf, London E14 5LB, in its capacity as (1) Principal
      Paying Agent, (2) Agent Bank, (3) Registrar, (4) Transfer Agent and (5)
      an Issuer Account Bank;

(4)   CITIBANK, N.A., acting through its office at 14th Floor, 388 Greenwich
      Street, New York, N.Y. 10013, U.S.A., in its capacity as US Paying
      Agent;

(5)   NORTHERN ROCK PLC (registered number 03273685) 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, in its
      capacity as (1) Issuer Cash Manager, (2) Issuer GIC Provider, (3)
      Start-Up Loan Provider and (4) an Issuer Account Bank;

(6)   LAW DEBENTURE CORPORATE SERVICES LIMITED (registered number 3388362) a
      private limited company incorporated under the laws of England and Wales
      whose registered office is at Fifth Floor, 100 Wood Street, London EC2V
      7EX as the Corporate Services Provider;

(7)   CITIGROUP GLOBAL MARKETS LIMITED in its capacity as the Issuer Swap
      Provider in respect of the Series 2005-3 Notes;

(8)   BARCLAYS BANK PLC ("Barclays") a public limited company incorporated
      under the laws of England and Wales, acting through its branch at 5, The
      North Colonnade, Canary Wharf, London E14 4BB in its capacity as (1) an
      Issuer Swap Provider in respect of the Series 2005-1 Notes, the Series
      2005-2 Notes, the Series 2006-1 Notes, the Series 2006-3 Notes and the
      Series 2007-1 Notes and (2) a New Issuer Secured Creditor;

(9)   ABN AMRO BANK N.V., LONDON BRANCH ("ABN") acting through its branch at
      250 Bishopsgate, London EC2M 4AA in its capacity as (1) an Issuer Swap
      Provider in respect of the Series 2005-1 Notes, the Series 2006-3 Notes
      and the Series 2007-1 Notes and (2) a New Issuer Secured Creditor;

(10)  HSBC BANK PLC ("HSBC") (registered number 00014259) acting through its
      office at 8 Canada Square, London E14 5HQ in its capacity as (1) an
      Issuer Swap Provider in respect of the Series 2005-1 Notes, the Series
      2006-1 Notes and the Series 2007-1 Notes and (2) a New Issuer Secured
      Creditor (together with Barclays and ABN, the "New Issuer Secured
      Creditors");

<PAGE>

(11)  BANQUE AIG, LONDON BRANCH ("Banque AIG") in its capacity as an Issuer
      Swap Provider in respect of the Series 2005-4 Notes, the Series 2006-2
      Notes and the Series 2006-4 Notes;

(12)  SWISS RE FINANCIAL PRODUCTS CORPORATION ("Swiss Re") in its capacity as
      an Issuer Swap Provider in respect of the Series 2005-4 Notes;

(13)  UBS AG, LONDON BRANCH ("UBS") acting through its office at 100 Liverpool
      Street, London EC2M 2RH in its capacity as an Issuer Swap Provider in
      respect of the Series 2006-1 Notes and the Series 2006-4 Notes; and

(14)  DEUTSCHE BANK AG, LONDON BRANCH ("Deutsche Bank") as an Issuer Swap
      Provider in respect of the Series 2006-2 Notes.

NOW THIS DEED WITNESSES AS FOLLOWS

WHEREAS

(A)   Pursuant to the terms of the Issuer Swap Agreements entered into between
      the Master Issuer and Barclays (the "Dollar Issuer Swap Agreements"),
      each dated 24 January, 2007, the Master Issuer has agreed to make
      certain payments in sterling to Barclays in exchange for payments in US
      Dollars.

(B)   Pursuant to the terms of the Issuer Swap Agreements entered into between
      the Master Issuer and HSBC (the "Euro Issuer Swap Agreements"), each
      dated 24 January, 2007, the Master Issuer has agreed to make certain
      payments in sterling to HSBC in exchange for payments in Euro.

(C)   Pursuant to the terms of the Issuer Swap Agreement entered into between
      the Master Issuer and ABN (the "Fixed/Floating Issuer Swap Agreement")
      dated 24 January, 2007, the Master Issuer has agreed to make certain
      payments at a floating rate of interest to ABN in exchange for payments
      at a fixed rate.

(D)   The Master Issuer has agreed to provide the Issuer Security Trustee with
      the benefit of the security described in the Issuer Deed of Charge to
      secure the Master Issuer's obligations to the Issuer Secured Creditors.

(E)   The terms of the Issuer Deed of Charge permit the Master Issuer to
      secure its obligations to a New Issuer Secured Creditor thereunder.

(F)   Each New Issuer Secured Creditor has agreed to enter into this Deed to
      accede to the provisions of the Issuer Deed of Charge.

(G)   The Issuer Secured Creditors have agreed to enter into this Deed to,
      inter alia, acknowledge and agree to such accession.

1.    INTERPRETATION

      The Programme Master Definitions Schedule signed for the purposes of
      identification by Sidley Austin Brown & Wood and Allen & Overy LLP on 19
      January, 2005, and the Issuer Master Definitions Schedule signed for the
      purposes of identification by Sidley Austin Brown & Wood and Allen &
      Overy LLP on 19 January, 2005 (as the

                                      2
<PAGE>

      same may be amended, varied or supplemented from time to time with the
      consent of the parties thereto) are expressly and specifically
      incorporated into and shall apply to this Deed.

      The Issuer Master Definitions Schedule specified above shall prevail to
      the extent it conflicts with the Programme Master Definitions Schedule.

2.    REPRESENTATIONS AND WARRANTIES

      The Master Issuer hereby represents and warrants to the Issuer Security
      Trustee and each of the Issuer Secured Creditors in respect of itself
      that as of the date of this Deed the conditions to issuing further
      Issuer Notes set out in the Programme Agreement and the Issuer Trust
      Deed are satisfied.

3.    ACCESSION

      In consideration of the New Issuer Secured Creditors each being accepted
      as an Issuer Secured Creditor for the purposes of the Issuer Deed of
      Charge by the parties thereto as from the date of this Deed, each New
      Issuer Secured Creditor:

      (a)   confirms that as from 24 January, 2007, it intends to be a party
            to the Issuer Deed of Charge as an Issuer Secured Creditor;

      (b)   undertakes to comply with and be bound by:

            (i)   the Programme Master Definitions Schedule signed for the
                  purposes of identification by Sidley Austin Brown & Wood and
                  Allen & Overy LLP on 19 January 2005; and

            (ii)  the Issuer Master Definitions Schedule signed for the
                  purposes of identification by Sidley Austin Brown & Wood and
                  Allen & Overy LLP on 19 January 2005,

            (as the same have been and may be amended, varied or supplemented
            from time to time with the consent of the parties hereto); and
            confirms that the Issuer Master Definitions Schedule specified
            above shall prevail to the extent that it conflicts with the
            Programme Master Definitions Schedule;

      (c)   undertakes to perform, comply with and be bound by all of the
            provisions of the Issuer Deed of Charge in its capacity as an
            Issuer Secured Creditor, as if it had been an original party
            thereto including, without limitation, as provided in Clause 5
            (Restrictions on Exercise of Certain Rights), Clause 7.3 (Issuer
            Post-Enforcement Priority of Payments), Clause 7.6 (Issuer
            Security Trustee Rights upon Enforcement), Clause 19.3 (Issuer
            Secured Creditors) and Schedule 2 (Issuer Priority of Payments) of
            the Issuer Deed of Charge; and

      (d)   agrees that the Issuer Security Trustee shall be the Issuer
            Security Trustee of the Issuer Deed of Charge for all Issuer
            Secured Creditors upon and subject to the terms set out in the
            Issuer Deed of Charge.

4.    SCOPE OF THE ISSUER DEED OF CHARGE

                                      3
<PAGE>

      The Master Issuer, each New Issuer Secured Creditor and the Issuer
      Security Trustee hereby agree that as from the date of this deed and for
      the relevant purposes under the Issuer Deed of Charge, the Programme
      Master Definitions Schedule and the Issuer Master Definitions Schedule:

      (a)   each of the Dollar Issuer Swap Agreements, the Euro Issuer Swap
            Agreements and the Fixed/Floating Issuer Swap Agreement shall be
            an Issuer Transaction Document and shall be subject to the
            Security Interests set out in Clause 2 (Security Interests) of the
            Issuer Deed of Charge; and

      (b)   each New Issuer Secured Creditor shall be an Issuer Secured
            Creditor.

5.    APPLICATION

      Prior to and following enforcement of the Issuer Security all amounts at
      any time held by the Master Issuer, the Issuer Cash Manager or the
      Issuer Security Trustee in respect of the security created under or
      pursuant to this Deed (if any) and the Issuer Deed of Charge shall be
      held and/or applied by such person subject to and in accordance with the
      relevant provisions of the Issuer Cash Management Agreement and the
      Issuer Deed of Charge.

6.    NOTICES

      Any notice or communication under or in connection with this Deed, the
      Issuer Deed of Charge, the Issuer Master Definitions Schedule or the
      Programme Master Definitions Schedule shall be given to the people in
      the manner and at the times set out in Clause 23 (Notices) of the Issuer
      Deed of Charge, to the addresses given in the Clause headed "Notices" in
      each Issuer Deed of Accession and to the addresses given in this Clause
      or at such other address as the recipient may have notified to the other
      parties hereto and/or thereto in writing.

6.1   The address referred to in this Clause 6 for Barclays is:

      Barclays Bank PLC
      5, The North Colonnade
      Canary Wharf
      London E14 4BB

      For the attention of:      Derivatives Director, Legal Division
      Facsimile:                 +44 207 773 4932

      or such other address and/or numbers as Barclays may notify to the
      parties to the Issuer Deed of Charge in accordance with the provisions
      thereof.

6.2   The address referred to in this Clause 6 for HSBC is:

      HSBC Bank PLC
      8 Canada Square
      London E14 5HQ

      Attention: Swaps and Derivatives Processing
      Tel: 020 7992 2784

                                      4
<PAGE>

      Fax 020 7992 4457

      or such other address and/or numbers as HSBC may notify to the parties
      to the Issuer Deed of Charge in accordance with the provisions thereof.

6.2   The address referred to in this Clause 6 for ABN is:

      ABN AMRO Bank N.V., London Branch
      250 Bishopsgate
      London
      EC2M 4AA

      For the attention of:      Swaps' Administration
      Facsimile:                 +44 (0)20 7678 3666

      or such other address and/or numbers as ABN may notify to the parties to
      the Issuer Deed of Charge in accordance with the provisions thereof.

7.    THIRD PARTY RIGHTS

      A person who is not a party to this Deed may not enforce any of its
      terms under the Contracts (Rights of Third Parties) Act 1999, but this
      shall not affect any right or remedy of a third party which exists or is
      available apart from that Act.

8.    EXECUTION IN COUNTERPARTS

      This Deed may be executed in any number of counterparts (manually or by
      facsimile) and by different parties hereto in separate counterparts,
      each of which when so executed shall be deemed to be an original and all
      of which when taken together shall constitute one and the same
      instrument.

9.    GOVERNING LAW

9.1   This Deed is governed by, and shall be construed in accordance with,
      English law.

9.2   Each of the parties hereto irrevocably agrees that the courts of England
      shall have jurisdiction to hear and determine any suit, action or
      proceeding, and to settle any disputes, which may arise out of or in
      connection with this Deed and, for such purposes, irrevocably submits to
      the jurisdiction of such courts.

9.3   Each of the parties hereto irrevocably waives any objection which it
      might now or hereafter have to the courts of England being nominated as
      the forum to hear and determine any Proceedings and to settle any
      disputes, and agrees not to claim that any such court is not a
      convenient or appropriate forum.

                                      5
<PAGE>

IN WITNESS WHEREOF this Deed has been executed as a deed and delivered by the
parties hereto on the day and year first above written.

as Master Issuer
EXECUTED AND DELIVERED AS A DEED                   )
by                                                 )
GRANITE MASTER ISSUER PLC                          )
acting by two directors                            )

/s/ Ian Bowden
-------------------------
for and on behalf of
LDC Securitisation Director No. 1 Limited
Director
Name: Ian Bowden

/s/ Sharon Tyson
-------------------------
for and on behalf of
LDC Securitisation Director No. 2 Limited
Director
Name:  Sharon Tyson

as Issuer Security Trustee and Note Trustee
EXECUTED AND DELIVERED AS A DEED                   )
by                                                 )
THE BANK OF NEW YORK                               )
by its duly authorised signatory                   )

/s/ Helen Kim
-------------------------------
Name: Helen Kim

in the presence of:
                                          Signature   /s/ Ivan Rast
                                                      ------------------------
                                                      Witness
                                          Full name   Ivan Rast
                                          Occupation  Trust Associate
                                                      The Bank of New York
                                          Address     One Canada Square
                                                      London E14 5AL

                                      6
<PAGE>

as Agent Bank, Account Bank, Principal Paying Agent, Registrar and
Transfer Agent
EXECUTED AND DELIVERED AS A DEED                   )
by                                                 )
CITIBANK, N.A.                                     )
by its duly authorised signatory                   )

/s/ Georgia Mitchell
-------------------------------
Name: Georgia Mitchell
      Vice President

in the presence of:

                                          Signature   /s/ David John Miles
                                                      ------------------------
                                                      Witness
                                          Full name   David John Miles
                                          Occupation  Bank Officer
                                                      Agency & Trust
                                          Address     Citigroup Centre
                                                      25 Canada Square
                                                      Canary Wharf
                                                      London E14 5LB

as US Paying Agent

EXECUTED AND DELIVERED AS A DEED                   )
by                                                 )
CITIBANK N.A.                                      )
by its duly authorised signatory                   )

/s/ Georgia Mitchell
-------------------------------
Name: Georgia Mitchell
      Vice President

in the presence of:

                                          Signature   /s/ David John Miles
                                                      ------------------------
                                                      Witness
                                          Full name   David John Miles
                                          Occupation  Bank Officer
                                                      Agency & Trust
                                          Address     Citigroup Centre
                                                      25 Canada Square
                                                      Canary Wharf
                                                      London E14 5LB

                                      7
<PAGE>

as Issuer Cash Manager, Issuer GIC Provider and
Start-Up Loan Provider  and Issuer Transaction Account
Bank
EXECUTED AND DELIVERED AS A DEED                   )
for and on behalf of                               )
NORTHERN ROCK PLC                                  )
by its duly authorised attorney                    )

/s/ David Johnson
-------------------------
Name:   David Johnson

in the presence of:
                                          Signature   /s/ Thomas Allan Ranger
                                                      ------------------------
                                                      Witness
                                          Full name   Thomas Allan Ranger
                                          Occupation  Securitisation Manager
                                          Address     Northern Rock plc
                                                      Northern Rock House
                                                      Gosforth
                                                      Newcastle upon Tyne
                                                      NE3 4PL

as Corporate Services Provider
EXECUTED AND DELIVERED AS A DEED                   )
by                                                 )
LAW DEBENTURE CORPORATE                            )
SERVICES LIMITED                                   )
acting by a director and its secretary             )

/s/ Ian Bowden
-------------------------
Director
Name:  Ian Bowden

/s/ Sharon Tyson
-------------------------
Secretary
Name:   Sharon Tyson

                                      8
<PAGE>

as an Issuer Swap Provider
EXECUTED AND DELIVERED AS A DEED                   )
for and on behalf of                               )
CITIGROUP GLOBAL MARKETS LIMITED                   )
by its duly authorised signatory                   )

/s/ Robert H. Liao
-------------------------
Name: Robert H. Liao
Managing Director

in the presence of:
                                          Signature   /s/ Mark Mathieson
                                                      ------------------------
                                                      Witness
                                          Full name   Mark Mathieson
                                          Occupation  Investment Banking
                                          Address     33 Canada Square,
                                                      London E14 5LB

as an Issuer Swap Provider and New Issuer Secured Creditor
EXECUTED AND DELIVERED AS A DEED                   )
for and on behalf of                               )
BARCLAYS BANK PLC                                  )
by its duly authorised attorney                    )

/s/ Colin Corrodus
-------------------------
Name: Colin Corrodus
Associate Director &
Head of Documentation Unit

in the presence of:

                                          Signature   /s/ Paul Pak Shing Ng
                                                      ------------------------
                                                      Witness
                                          Full name   Paul Pak Shing Ng
                                          Occupation  Lawyer
                                          Address     5 The North Colonnade
                                                      Canary Wharf
                                                      London E14 4BB

                                      9
<PAGE>

as an Issuer Swap Provider and New Issuer Secured Creditor
EXECUTED AND DELIVERED AS A DEED                   )
for and on behalf of                               )
ABN AMRO BANK N.V., LONDON BRANCH                  )
by two duly authorised signatories                 )

/s/  Kenneth A. Nicoll
-------------------------
Authorised Signatory
Name: Kenneth A. Nicoll

/s/ Fadi Melcon
-------------------------
Authorised Signatory
Name: Fadi Melcon

as an Issuer Swap Provider and New Issuer Secured Creditor
EXECUTED AND DELIVERED AS A DEED                   )
for and on behalf of                               )
HSBC BANK PLC                                      )
by its duly authorised attorney                    )

/s/ James Collins
-------------------------
Name: James Collins

in the presence of:
                                          Signature   /s/ A. Versey
                                                      ------------------------
                                                      Witness
                                          Full name   A. Versey
                                          Occupation  Banking
                                          Address     8 Canada Square
                                                      London E14 5HQ

                                      10
<PAGE>

as an Issuer Swap Provider
EXECUTED AND DELIVERED AS A DEED                   )
for and on behalf of                               )
BANQUE AIG, LONDON BRANCH                          )
by its duly authorised attorney                    )

/s/ Richard Evelyn
-------------------------
Name: Richard Evelyn

in the presence of:
                                          Signature   /s/ Suzanne Stokes
                                                      ------------------------
                                                      Witness
                                          Full name   Suzanne Stokes
                                          Occupation  Assistant
                                          Address     1 Curzon Street
                                                      London WIJ  5RT

as an Issuer Swap Provider
EXECUTED AND DELIVERED AS A DEED                   )  Address for notices and
for and on behalf of                               )  communications:
SWISS RE FINANCIAL PRODUCTS                        )  Swiss Re Financial
CORPORATION                                        )    Products Corporation
by its duly authorised attorney                    )  55 East 52nd Street
                                                      New York, New York  10055
/s/ Frank Ronan                                       Facsimile: (212) 317-5474
-------------------------
Name:  Frank Ronan
Managing Director
Swiss Re Financial Products Corporation

in the presence of:
                                          Signature   /s/ Sarah Ill
                                                      ------------------------
                                                      Witness
                                          Full name   Sarah Ill
                                          Occupation  Associate
                                          Address     55 East 52nd Street
                                                      New York, New York  10055

                                      11
<PAGE>

as an Issuer Swap Provider
EXECUTED AND DELIVERED AS A DEED                   )
for and on behalf of                               )
UBS A.G., LONDON BRANCH                            )
by two of its duly authorised signatories          )

/s/ Kate Binions
-------------------------
Name: Kate Binions
Director
Traded Products Legal

/s/ Alessandra Accrocca
-------------------------
Name: Alessandra Accrocca
Director
Traded Products Legal

                                      12
<PAGE>

as an Issuer Swap Provider
EXECUTED AND DELIVERED AS A DEED                   )
for and on behalf of                               )
DEUTSCHE BANK AG, LONDON BRANCH                    )
by two of its duly authorised signatories          )

/s/ Megan Wallis
-------------------------
Name: Megan Wallis
Legal Counsel

/s/ Joe Kohler
-------------------------
Name: Joe Kohler
Legal Counsel

in the presence of:
                                          Signature   /s/ Thomas Adamson
                                                      ------------------------
                                                      Witness
                                          Full name   Thomas Adamson
                                          Occupation  Funds Administrator
                                          Address     Floor 6, 99 Bishopsgate
                                                      London
                                                      United Kingdom
                                                      EC2N 2DB

                                      13Exhibit 4.4.3

                                                             EXECUTION VERSION

                            Dated 22 January, 2007

                           GRANITE MASTER ISSUER PLC
                               as Master Issuer

                               NORTHERN ROCK PLC
                       as a New Issuer Secured Creditor

                             THE BANK OF NEW YORK
                  as Note Trustee and Issuer Security Trustee

                                    - and -

                                    OTHERS

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

                           ISSUER DEED OF ACCESSION

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

                            SIDLEY AUSTIN (UK) LLP
                               WOOLGATE EXCHANGE
                             25 BASINGHALL STREET
                                LONDON EC2V 5HA
                            TELEPHONE 020 7360 3600
                            FACSIMILE 020 7626 7937

<PAGE>

                                   CONTENTS

1.   INTERPRETATION..........................................................2

2.   ACCESSION...............................................................3

3.   SCOPE OF THE ISSUER DEED OF CHARGE......................................3

4.   AMENDMENT TO ISSUER PRIORITY OF PAYMENTS................................4

5.   APPLICATION.............................................................4

6.   NOTICES.................................................................4

7.   THIRD PARTY RIGHTS......................................................4

8.   EXECUTION IN COUNTERPARTS...............................................4

9.   GOVERNING LAW...........................................................5

SCHEDULE 1  ISSUER PRIORITY OF PAYMENTS......................................6

<PAGE>

THIS DEED is made on 22 January, 2007

BETWEEN:

(1)   GRANITE MASTER ISSUER PLC (registered number 5250668) a public limited
      company incorporated under the laws of England and Wales whose
      registered office is at Fifth Floor, 100 Wood Street, London EC2V 7EX as
      Master Issuer;

(2)   THE BANK OF NEW YORK, a New York banking corporation whose London branch
      address is at 40th Floor, One Canada Square, London E14 5AL, United
      Kingdom, in its capacity as (1) Issuer Security Trustee and (2) Note
      Trustee;

(3)   CITIBANK, N.A., acting through its office at Citigroup Centre, Canada
      Square, Canary Wharf, London E14 5LB, in its capacity as (1) Principal
      Paying Agent, (2) Agent Bank, (3) Registrar, (4) Transfer Agent and (5)
      an Issuer Account Bank;

(4)   CITIBANK, N.A., acting through its office at 14th Floor, 388 Greenwich
      Street, New York, N.Y. 10013, U.S.A., in its capacity as US Paying
      Agent;

(5)   NORTHERN ROCK PLC (registered number 03273685) 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, in its
      capacity as (1) Issuer Cash Manager, (2) Issuer GIC Provider, (3)
      Start-Up Loan Provider (4) Issuer GIC Account Bank (5) an Issuer
      Transaction Account Bank and (6) a new Issuer Secured Creditor (in its
      capacity as an Issuer Transaction Account Bank) the "New Issuer Secured
      Creditor");

(6)   LAW DEBENTURE CORPORATE SERVICES LIMITED (registered number 3388362) a
      private limited company incorporated under the laws of England and Wales
      whose registered office is at Fifth Floor, 100 Wood Street, London EC2V
      7EX as the Corporate Services Provider;

(7)   CITIGROUP GLOBAL MARKETS LIMITED in its capacity as the Issuer Swap
      Provider in respect of the Series 2005-3 Notes;

(8)   BARCLAYS BANK PLC ("Barclays") a public limited company incorporated
      under the laws of England and Wales, acting through its branch at 5, The
      North Colonnade, Canary Wharf, London E14 4BB in its capacity as an
      Issuer Swap Provider in respect of the Series 2005-1 Notes, the Series
      2005-2 Notes, the Series 2006-1 Notes and the Series 2006-3 Notes;

(9)   ABN AMRO BANK N.V., LONDON BRANCH ("ABN") acting through its branch at
      250 Bishopsgate, London EC2M 4AA in its capacity as an Issuer Swap
      Provider in respect of the Series 2005-1 Notes and the Series 2006-3
      Notes;

(10)  HSBC BANK PLC ("HSBC") (registered number 00014259) acting through its
      office at 8 Canada Square, London E14 5HQ in its capacity as an Issuer
      Swap Provider in respect of the Series 2005-1 Notes and the Series
      2006-1 Notes;

(11)  BANQUE AIG, LONDON BRANCH ("Banque AIG") in its capacity as an Issuer
      Swap Provider in respect of the Series 2005-4 Notes, the Series 2006-2
      Notes and the Series 2006-4 Notes;

<PAGE>

(12)  SWISS RE FINANCIAL PRODUCTS CORPORATION ("Swiss Re") in its capacity as
      an Issuer Swap Provider in respect of the Series 2005-4 Notes;

(13)  UBS AG, LONDON BRANCH ("UBS") acting through its office at 100 Liverpool
      Street, London EC2M 2RH in its capacity as an Issuer Swap Provider in
      respect of the Series 2006-1 Notes and the Series 2006-4 Notes; and

(14)  DEUTSCHE BANK AG, LONDON BRANCH ("Deutsche Bank") as an Issuer Swap
      Provider in respect of the Series 2006-2 Notes.

NOW THIS DEED WITNESSES AS FOLLOWS

WHEREAS

(A)   Pursuant to the terms of the Issuer Bank Account Agreement, as amended
      by and appearing in Appendix I to, the second deed of amendment to the
      Issuer Bank Account Agreement dated 19 January, 2007 between, amongst
      others, Northern Rock plc, the Master Issuer, Citibank, N.A. and The
      Bank of New York (as the same may be amended, varied or supplemented
      from time to time with the consent of the parties thereto), Northern
      Rock plc was appointed by the Master Issuer as an additional Issuer
      Transaction Account Bank;

(B)   The Master Issuer has agreed to provide the Issuer Security Trustee with
      the benefit of the security described in the Issuer Deed of Charge to
      secure the Master Issuer's obligations to the Issuer Secured Creditors.

(C)   The terms of the Issuer Deed of Charge permit the Master Issuer to
      secure its obligations to a New Issuer Secured Creditor thereunder.

(D)   The New Issuer Secured Creditor has agreed to enter into this Deed to
      accede to the provisions of the Issuer Deed of Charge.

(E)   The Issuer Secured Creditors have agreed to enter into this Deed to,
      inter alia, acknowledge and agree to such accession.

1.    INTERPRETATION

      The Programme Master Definitions Schedule signed for the purposes of
      identification by Sidley Austin Brown & Wood and Allen & Overy LLP on 19
      January, 2005, and the Issuer Master Definitions Schedule signed for the
      purposes of identification by Sidley Austin Brown & Wood and Allen &
      Overy LLP on 19 January, 2005 (as the same may be amended, varied or
      supplemented from time to time with the consent of the parties thereto)
      are expressly and specifically incorporated into and shall apply to this
      Deed.

      The Issuer Master Definitions Schedule specified above shall prevail to
      the extent it conflicts with the Programme Master Definitions Schedule.

                                      2
<PAGE>

2.    ACCESSION

      In consideration of the New Issuer Secured Creditor being accepted as an
      Issuer Secured Creditor for the purposes of the Issuer Deed of Charge by
      the parties thereto as from the date of this Deed, the New Issuer
      Secured Creditor:

      (a)   confirms that as from 19 January, 2007, it intends to be a party
            to the Issuer Deed of Charge as an Issuer Secured Creditor;

      (b)   undertakes to comply with and be bound by:

            (i)   the Programme Master Definitions Schedule signed for the
                  purposes of identification by Sidley Austin Brown & Wood and
                  Allen & Overy LLP on 19 January 2005; and

            (ii)  the Issuer Master Definitions Schedule signed for the
                  purposes of identification by Sidley Austin Brown & Wood and
                  Allen & Overy LLP on 19 January 2005,

            (as the same have been and may be amended, varied or supplemented
            from time to time with the consent of the parties hereto); and
            confirms that the Issuer Master Definitions Schedule specified
            above shall prevail to the extent that it conflicts with the
            Programme Master Definitions Schedule;

      (c)   undertakes to perform, comply with and be bound by all of the
            provisions of the Issuer Deed of Charge in its capacity as an
            Issuer Secured Creditor, as if it had been an original party
            thereto including, without limitation, as provided in Clause 5
            (Restrictions on Exercise of Certain Rights), Clause 7.3 (Issuer
            Post-Enforcement Priority of Payments), Clause 7.6 (Issuer
            Security Trustee Rights upon Enforcement), Clause 19.3 (Issuer
            Secured Creditors) and Schedule 2 (Issuer Priority of Payments) of
            the Issuer Deed of Charge; and

      (d)   agrees that the Issuer Security Trustee shall be the Issuer
            Security Trustee of the Issuer Deed of Charge for all Issuer
            Secured Creditors upon and subject to the terms set out in the
            Issuer Deed of Charge.

3.    SCOPE OF THE ISSUER DEED OF CHARGE

      The Master Issuer, the New Issuer Secured Creditor and the Issuer
      Security Trustee hereby agree that as from the date of this deed and for
      the relevant purposes under the Issuer Deed of Charge, the Programme
      Master Definitions Schedule and the Issuer Master Definitions Schedule:

      (a)   the Issuer Bank Account Agreement, as amended by and appearing in
            Appendix I to, the second deed of amendment to the Issuer Bank
            Account Agreement dated 19 January, 2007 shall be an Issuer
            Transaction Document and shall be subject to the Security
            Interests set out in Clause 2 (Security Interests) of the Issuer
            Deed of Charge; and

      (b)   the New Issuer Secured Creditor shall be an Issuer Secured
            Creditor.

                                      3
<PAGE>

4.    AMENDMENT TO ISSUER PRIORITY OF PAYMENTS

      Pursuant to Clause 5.6 of the Issuer Deed of Charge, each of the parties
      hereto agrees to amend the Issuer Priority of Payments in the form
      attached as Schedule 1 hereto. For the avoidance of doubt, the new
      Issuer Priority of Payments attached as Schedule 1 hereto shall
      supersede those set out in Schedule 2 (Issuer Priority of Payments) to
      the Issuer Deed of Charge.

5.    APPLICATION

      Prior to and following enforcement of the Issuer Security all amounts at
      any time held by the Master Issuer, the Issuer Cash Manager or the
      Issuer Security Trustee in respect of the security created under or
      pursuant to this Deed (if any) and the Issuer Deed of Charge shall be
      held and/or applied by such person subject to and in accordance with the
      relevant provisions of the Issuer Cash Management Agreement and the
      Issuer Deed of Charge.

6.    NOTICES

      Any notice or communication under or in connection with this Deed, the
      Issuer Deed of Charge, the Issuer Master Definitions Schedule or the
      Programme Master Definitions Schedule shall be given to the people in
      the manner and at the times set out in Clause 23 (Notices) of the Issuer
      Deed of Charge, to the addresses given in the Clause headed "Notices" in
      each Issuer Deed of Accession and to the addresses given in this Clause
      or at such other address as the recipient may have notified to the other
      parties hereto and/or thereto in writing.

6.1   The address referred to in this Clause 6 for Northern Rock plc (in its
      capacity as an Issuer Transaction Account Bank) is:

      Northern Rock plc
      Northern Rock House
      Gosforth, Newcastle upon Tyne
      NE3 4PL

      For the attention of:   Group Secretary
      Facsimile:              0191 213 2203

      or such other address and/or numbers as Northern Rock may notify to the
      parties to the Issuer Deed of Charge in accordance with the provisions
      thereof.

7.    THIRD PARTY RIGHTS

      A person who is not a party to this Deed may not enforce any of its
      terms under the Contracts (Rights of Third Parties) Act 1999, but this
      shall not affect any right or remedy of a third party which exists or is
      available apart from that Act.

8.    EXECUTION IN COUNTERPARTS

      This Deed may be executed in any number of counterparts (manually or by
      facsimile) and by different parties hereto in separate counterparts,
      each of which when so

                                      4
<PAGE>

      executed shall be deemed to be an original and all of which when taken
      together shall constitute one and the same instrument.

9.    GOVERNING LAW

9.1   This Deed is governed by, and shall be construed in accordance with,
      English law.

9.2   Each of the parties hereto irrevocably agrees that the courts of England
      shall have jurisdiction to hear and determine any suit, action or
      proceeding, and to settle any disputes, which may arise out of or in
      connection with this Deed and, for such purposes, irrevocably submits to
      the jurisdiction of such courts.

9.3   Each of the parties hereto irrevocably waives any objection which it
      might now or hereafter have to the courts of England being nominated as
      the forum to hear and determine any Proceedings and to settle any
      disputes, and agrees not to claim that any such court is not a
      convenient or appropriate forum.

                                      5
<PAGE>

                                  SCHEDULE 1

                          ISSUER PRIORITY OF PAYMENTS

1.    Priority of Payments for Issuer Available Revenue Receipts Prior to
      Enforcement of the Issuer Security

      On each Monthly Payment Date, all Funding 2 Available Revenue Receipts
      received by the Master Issuer from Funding 2:

      (i)   in respect of items (B), (S), (U) and (V) of the Funding 2
            Pre-Enforcement Revenue Priority of Payments shall be credited to
            the Issuer Expense Sub-Ledger; and

      (ii)  being interest paid on a Loan Tranche shall be credited to a
            sub-ledger (in respect of the related Series and Class of Issuer
            Notes) to the Issuer Revenue Ledger.

      On each Distribution Date the Issuer Cash Manager will calculate whether
      there will be an excess or a deficit of Issuer Available Revenue
      Receipts to pay items (A) through (M) of the Issuer Pre-Enforcement
      Revenue Priority of Payments

      Issuer Available Revenue Receipts will be applied, as applicable:

      (a)   on each Monthly Payment Date; or

      (b)   on each day when due in respect of amounts due to third parties
            pursuant to paragraph (C) below,

      in each case prior to the enforcement of the Issuer Security pursuant to
      this Deed of Charge or until such time as there are no Issuer Secured
      Obligations outstanding, in making such payments and provisions in the
      following order of priority (in each case only if and to the extent that
      payments or provisions of a higher priority have been made in full) (the
      "Issuer Pre-Enforcement Revenue Priority of Payments"):

      (A)   first, in no order of priority among them but in proportion to the
            respective amounts due, to pay amounts due to the Note Trustee and
            the Issuer Security Trustee, together with interest and (to the
            extent not already inclusive) VAT on those amounts, and to provide
            for any amounts due or to become due during the following Interest
            Period to the Note Trustee or the Issuer Security Trustee, as
            applicable, under the Issuer Trust Deed, this Deed of Charge or
            any other Transaction Document to which the Master Issuer is a
            party;

      (B)   second, in no order of priority among them but in proportion to
            the respective amounts due, to pay amounts due to the Agent Bank,
            the Paying Agents, the Transfer Agent and the Registrar together
            with interest and (to the extent not already inclusive) VAT on
            those amounts, and to provide for any costs, charges, liabilities
            and expenses due or to become due during the following Interest
            Period to the Agent Bank, the Paying Agents, the Transfer Agent
            and the Registrar under the Issuer Paying Agent and Agent Bank
            Agreement;

                                      6
<PAGE>

      (C)   third, to pay amounts due to any third party creditors of the
            Master Issuer (other than those referred to later in this order of
            priority of payments or in the Issuer Pre-Enforcement Principal
            Priority of Payments), of which the Issuer Cash Manager has notice
            prior to the relevant Monthly Payment Date, which amounts have
            been incurred without breach by the Master Issuer of the
            Transaction Documents to which it is a party and for which payment
            has not been provided for elsewhere and to provide for any such
            amounts expected to become due and payable during the following
            Interest Period by the Master Issuer and to pay or discharge any
            liability of the Master Issuer for corporation tax on any
            chargeable income or gain of the Master Issuer;

      (D)   fourth, in no order or priority among them but in proportion to
            the respective amounts due, to pay amounts due to the Issuer Cash
            Manager under the Issuer Cash Management Agreement, the Corporate
            Services Provider under the Corporate Services Agreement and the
            Issuer Account Banks under the Issuer Bank Account Agreement
            together with (to the extent not already inclusive) VAT on those
            amounts, and to provide for any amounts due or to become due in
            the immediately succeeding Interest Period, to the Issuer Cash
            Manager under the Issuer Cash Management Agreement, to the
            Corporate Services Provider under the Corporate Services Agreement
            and to the Issuer Account Banks under the Issuer Bank Account
            Agreement;

      (E)   fifth, from amounts (excluding principal) received by the Master
            Issuer from Funding 2 in respect of each AAA Loan Tranche (and, in
            respect of (ii) below, the amounts (if any), excluding principal,
            received from the Issuer Swap Provider(s) under the Issuer Swap
            Agreement(s) in respect of the related Series and Class of Issuer
            Notes):

            (i)   to pay the amounts due and payable to the relevant Issuer
                  Swap Provider(s) (if any) in respect of the related Series
                  and Class of Class A Notes (including any swap termination
                  payment but excluding any Issuer Swap Excluded Termination
                  Amount) in accordance with the terms of the relevant Issuer
                  Swap Agreement(s); and

            (ii)  to pay interest due and payable (if any) on the related
                  Series and Class of Class A Notes;

      (F)   sixth, from amounts (excluding principal) received by the Master
            Issuer from Funding 2 in respect of each AA Loan Tranche (and, in
            respect of (ii) below, the amounts (if any), excluding principal,
            received from the Issuer Swap Provider(s) under the Issuer Swap
            Agreement(s) in respect of the related Series and Class of Issuer
            Notes):

            (i)   to pay the amounts due and payable to the relevant Issuer
                  Swap Provider(s) (if any) in respect of the related Series
                  and Class of Class B Notes (including any swap termination
                  payment but excluding any Issuer Swap Excluded Termination
                  Amount) in accordance with the terms of the relevant Issuer
                  Swap Agreement(s);

            (ii)  to pay interest due and payable (if any) on the related
                  Series and Class of Class B Notes on such Monthly Payment
                  Date;

                                      7
<PAGE>

      (G)   seventh, from amounts (excluding principal) received by the Master
            Issuer from Funding 2 in respect of each A Loan Tranche (and, in
            respect of (ii) below, the amounts, excluding principal, received
            from the Issuer Swap Provider(s) under the Issuer Swap
            Agreement(s) in respect of the related Series and Class of Notes):

            (i)   to pay the amounts due and payable to the relevant Issuer
                  Swap Provider(s) (if any) in respect of the related Series
                  and Class of Class M Notes (including any swap termination
                  payment but excluding any Issuer Swap Excluded Termination
                  Amount) in accordance with the terms of the relevant Issuer
                  Swap Agreement(s);

            (ii)  to pay interest due and payable (if any) on the related
                  Series and Class of Class M Notes on such Monthly Payment
                  Date;

      (H)   eighth, from amounts (excluding principal) received by the Master
            Issuer from Funding 2 in respect of each BBB Loan Tranche (and, in
            respect of (ii) below, the amounts, excluding principal, received
            from the Issuer Swap Provider(s) under the Issuer Swap
            Agreement(s) in respect of the related Series and Class of Issuer
            Notes):

            (i)   to pay the amounts due and payable to the relevant Issuer
                  Swap Provider(s) (if any) in respect of the related Series
                  and Class of Class C Notes (including any swap termination
                  payment but excluding any Issuer Swap Excluded Termination
                  Amount) in accordance with the terms of the relevant Issuer
                  Swap Agreement(s);

            (ii)  to pay interest due and payable (if any) on the related
                  Series and Class of Class C Notes on such Monthly Payment
                  Date;

      (I)   ninth, from amounts (excluding principal) received by the Master
            Issuer from Funding 2 in respect of each BB Loan Tranche (and, in
            respect of (ii) below, the amounts (if any), excluding principal,
            received from the Issuer Swap Provider(s) under the Issuer Swap
            Agreement(s) in respect of the related Series and Class of Issuer
            Notes):

            (i)   to pay the amounts due and payable to the relevant Issuer
                  Swap Provider(s) (if any) in respect of the related Series
                  and Class of Class D Notes (including any swap termination
                  payment but excluding any Issuer Swap Excluded Termination
                  Amount) in accordance with the terms of the relevant Issuer
                  Swap Agreement(s);

            (ii)  to pay interest due and payable (if any) on the related
                  Series and Class of Class D Notes on such Monthly Payment
                  Date;

      (J)   tenth, in no order of priority among them but in proportion to the
            respective amounts due, towards payment of:

            (i)   interest amounts due to the Start-Up Loan Provider(s); and

                                      8
<PAGE>

            (ii)  principal amounts due to the Start-Up Loan Provider(s) (to
                  the extent of issuance fees received from Funding 2 under
                  the Global Intercompany Loan Agreement);

      (K)   eleventh, after taking account of any replenishment of the Issuer
            Reserve Fund on the relevant Monthly Payment Date from Issuer
            Available Principal Receipts, to credit the Issuer Reserve Ledger
            up to an amount no less than the Issuer Reserve Required Amount;

      (L)   twelfth, on the Monthly Payment Date falling in December of each
            year, to pay to each Issuer Account Bank an amount equal to the
            amount of any debit balance in the Issuer Transaction Account as
            permitted by each such Issuer Account Bank and outstanding at such
            Monthly Payment Date;

      (M)   thirteenth, in no order of priority among them but in proportion
            to the respective amounts due, to pay any Issuer Swap Excluded
            Termination Payments to the Issuer Swap Provider(s);

      (N)   fourteenth, in no order of priority among them but in proportion
            to the respective amounts due, towards payment of principal
            amounts due to the Start-Up Loan Provider(s) under the Start-Up
            Loan Agreement(s);

      (O)   fifteenth, to pay to the Master Issuer an amount equal to 0.01%
            per annum of the interest received under the Global Intercompany
            Loan, which will be retained by the Master Issuer as profit (which
            may, subject to applicable laws, be paid to the shareholders of
            the Master Issuer as a dividend), less corporation tax in respect
            of those profits provided for or paid at item (C) above; and

      (P)   last, to pay amounts due to the Issuer GIC Provider under the
            Issuer Guaranteed Investment Contract.

2.    Distribution of Issuer Available Principal Receipts Prior to Enforcement
      of the Issuer Security

      On each Monthly Payment Date, all Funding 2 Available Principal Receipts
      received by the Master Issuer from Funding 2 constituting principal
      repayments on a Loan Tranche, will be credited to a sub-ledger (in
      respect of a related Series and Class of Issuer Notes) to the Issuer
      Principal Ledger.

      Prior to the enforcement of the Issuer Security pursuant to this Deed of
      Charge, or until such time as there are no Issuer Secured Obligations
      outstanding, Issuer Available Principal Receipts will be applied on each
      Monthly Payment Date in the following manner (the "Issuer
      Pre-Enforcement Principal Priority of Payments"):

      (A)   to the extent that monies have been drawn from the Issuer Reserve
            Fund to make Issuer Reserve Principal Payments, towards the
            replenishment of the Issuer Reserve Fund up to the Issuer Reserve
            Required Amount, such amount to be debited to the Sub-Ledger(s) of
            the Series and Class(es) of Issuer Notes in respect of which such
            Issuer Reserve Principal Payments were made;

                                      9
<PAGE>

      (B)   The Class A Notes:

            from principal amounts received by the Master Issuer from Funding
            2 in respect of each AAA Loan Tranche (and, in respect of (ii)
            below, the principal amounts received (if any) from the Issuer
            Swap Provider(s) under the relevant Issuer Swap Agreement(s) in
            respect of the related Series and Classes of Notes):

            (i)   to pay amounts due and payable (in respect of principal) on
                  such Monthly Payment Date to the relevant Issuer Swap
                  Provider(s) in respect of the related Series and Class of
                  Class A Notes in accordance with the terms of the relevant
                  Issuer Swap Agreement(s); and

            (ii)  to pay amounts due and payable in respect of principal (if
                  any) on such Monthly Payment Date on the related Series and
                  Class of Class A Notes;

      (C)   The Class B Notes:

            from principal amounts received by the Master Issuer from Funding
            2 in respect of each AA Loan Tranche (and, in respect of (ii)
            below, the principal amounts received (if any) from the Issuer
            Swap Provider(s) under the relevant Issuer Swap Agreement(s) in
            respect of the related Series and Classes of Notes):

            (i)   to pay amounts due and payable (in respect of principal) on
                  such Monthly Payment Date to the relevant Issuer Swap
                  Provider(s) in respect of the related Series and Class of
                  Class B Notes in accordance with the terms of the relevant
                  Issuer Swap Agreement(s); and

            (ii)  to pay amounts due and payable in respect of principal (if
                  any) on such Monthly Payment Date on the related Series and
                  Class of Class B Notes;

      (D)   The Class M Notes:

            from principal amounts received by the Master Issuer from Funding
            2 in respect of each A Loan Tranche (and, in respect of (ii)
            below, the principal amounts received (if any) from the Issuer
            Swap Provider(s) under the relevant Issuer Swap Agreement(s) in
            respect of the related Series and Classes of Notes):

            (i)   to pay amounts due and payable (in respect of principal) on
                  such Monthly Payment Date to the relevant Issuer Swap
                  Provider(s) in respect of the related Series and Class of
                  Class M Notes in accordance with the terms of the relevant
                  Issuer Swap Agreement(s); and

            (ii)  to pay amounts due and payable in respect of principal (if
                  any) on such Monthly Payment Date on the related Series and
                  Class of Class M Notes;

                                      10
<PAGE>

      (E)   The Class C Notes:

            from principal amounts received by the Master Issuer from Funding
            2 in respect of each BBB Loan Tranche (and, in respect of (ii)
            below, the principal amounts received (if any) from the Issuer
            Swap Provider(s) under the relevant Issuer Swap Agreement(s) in
            respect of the related Series and Class of Notes):

            (i)   to pay amounts due and payable (in respect of principal) on
                  such Monthly Payment Date to the relevant Issuer Swap
                  Provider(s) in respect of the related Series and Class of
                  Class C Notes in accordance with the terms of the relevant
                  Issuer Swap Agreement(s); and

            (ii)  to pay amounts due and payable in respect of principal (if
                  any) on such Monthly Payment Date on the related Series and
                  Class of Class C Notes;

      (F)   The Class D Notes

            from principal amounts received by the Master Issuer from Funding
            2 in respect of each BB Loan Tranche (and, in respect of (ii)
            below, the principal amounts received (if any) from the Issuer
            Swap Provider(s) under the relevant Issuer Swap Agreement(s) in
            respect of the related Series and Class of Notes):

            (i)   to pay amounts due and payable (in respect of principal) on
                  such Monthly Payment Date to the relevant Issuer Swap
                  Provider(s) in respect of the related Series and Class of
                  Class D Notes in accordance with the terms of the relevant
                  Issuer Swap Agreement(s); and

            (ii)  to pay amounts due and payable in respect of principal (if
                  any) on such Monthly Payment Date on the related Series and
                  Class of Class D Notes.

3.    Distribution of Issuer Available Principal Receipts and Issuer Available
      Revenue Receipts Following Enforcement of the Issuer Security

      Following enforcement of the Issuer Security, on each Monthly Payment
      Date the Issuer Security Trustee (or the Issuer Cash Manager on its
      behalf) will apply amounts received or recovered (excluding Swap
      Collateral (if any) standing to the credit of the Issuer Swap Collateral
      Accounts) as follows:

      (A)   first, in no order of priority among them but in proportion to the
            amounts due to pay amounts due to the Note Trustee and the Issuer
            Security Trustee (and any Receiver appointed by the Issuer
            Security Trustee) together with the interest and VAT on those
            amounts and to provide for any amounts then due or to become due
            and payable to the Note Trustee and the Issuer Security Trustee,
            and the Receiver under the provisions of the Issuer Trust Deed,
            this Deed of Charge and any other Transaction Document;

      (B)   second, to pay, in no order of priority among them but in
            proportion to the respective amounts due, the Agent Bank, the
            Paying Agents, the Transfer Agent and the Registrar, together with
            interest and VAT on those amounts and to provide for any costs,
            charges, liabilities and expenses then due or to

                                      11
<PAGE>

            become due and payable to them under the provisions of the Paying
            Agent and Agent Bank Agreement;

      (C)   third, in no order of priority among them but in proportion to the
            respective amounts due, towards payment of amounts (together with
            VAT on those amounts) due and payable to the Issuer Cash Manager
            under the Issuer Cash Management Agreement, to the Corporate
            Services Provider under the Corporate Services Agreement and to
            the Issuer Account Banks under the Issuer Bank Account Agreement;

      (D)   fourth, subject to item (E) below, in no order of priority among
            them but in proportion to the respective amounts due, to pay
            amounts due to the Issuer Swap Providers for each Series of Class
            A Notes (excluding any swap termination payment);

      (E)   fifth, in no order of priority among them but in proportion to the
            respective amounts due, to pay interest due or overdue on, and to
            repay principal of, the applicable series of Class A Notes and to
            pay any Swap Termination Payment due to the Issuer Swap Provider
            for each Series of Class A Notes (but excluding any Issuer Swap
            Excluded Termination Amount) provided that if the amounts
            available for distribution under this item (E) (on the assumption
            that no amounts are due and payable under item (D) and no amounts
            are received from any Issuer Swap Provider) would be insufficient
            to pay the sterling equivalent of the amounts due and payable
            under this item (E), the shortfall shall be divided amongst all
            such amounts on a pro rata basis and the amount payable by the
            Master Issuer to the Issuer Swap Provider in respect of any Series
            of Class A Notes under item (D) above shall be reduced by the
            amount of the shortfall applicable to that Series of Class A
            Notes;

      (F)   sixth, subject to item (G) below, in no order of priority among
            them but in proportion to the respective amounts due, to pay
            amounts due to the Issuer Swap Providers for each Series of Class
            B Notes (excluding any swap termination payment);

      (G)   seventh, in no order of priority among them but in proportion to
            the respective amounts due, to pay interest due or overdue on, and
            to repay principal of, the applicable Series of Class B Notes and
            to pay any Swap Termination Payment due to the Issuer Swap
            Provider for each Series of Class B Notes (but excluding any
            Issuer Swap Excluded Termination Amount) provided that if the
            amounts available for distribution under this item (G) (on the
            assumption that no amounts are due and payable under item (F) and
            no amounts are received from any Issuer Swap Provider) would be
            insufficient to pay the sterling equivalent of the amounts due and
            payable under this item (G), the shortfall shall be divided
            amongst all such amounts on a pro rata basis and the amount
            payable by the Master Issuer to the Issuer Swap Provider in
            respect of the any Series of Class B Notes of under item (F) above
            shall be reduced by the amount of the shortfall applicable to that
            Series of Class B Notes;

      (H)   eighth, subject to item (I) below, in no order of priority among
            them but in proportion to the respective amounts due, to pay
            amounts due to the Issuer

                                      12
<PAGE>

            Swap Providers for each Series of Class M Notes (excluding any
            swap termination payment);

      (I)   ninth, in no order of priority among them but in proportion to the
            respective amounts due, to pay interest due or overdue on, and to
            repay principal of, the applicable Series of Class M Notes and to
            pay any Swap Termination Payment due to the Issuer Swap Provider
            for each Series of Class M Notes (but excluding any Issuer Swap
            Excluded Termination Amount) provided that if the amounts
            available for distribution under this item (I) (on the assumption
            that no amounts are due and payable under item (H) and no amounts
            are received from any Issuer Swap Provider) would be insufficient
            to pay the sterling equivalent of the amounts due and payable
            under this item (I), the shortfall shall be divided amongst all
            such amounts on a pro rata basis and the amount payable by the
            Master Issuer to the Issuer Swap Provider in respect of any Series
            of Class M Notes under item (H) above shall be reduced by the
            amount of the shortfall applicable to that Series of Class M
            Notes;

      (J)   tenth, subject to item (K) below, in no order of priority among
            them but in proportion to the respective amounts due, to pay
            amounts due to the Issuer Swap Providers for each Series of Class
            C Notes (excluding any swap termination payment);

      (K)   eleventh, in no order of priority among them but in proportion to
            the respective amounts due, to pay interest due or overdue on, and
            to repay principal of, the applicable Series of Class C Notes and
            to pay any Swap Termination Payment due to the Issuer Swap
            Provider for each Series of Class C Notes (but excluding any
            Issuer Swap Excluded Termination Amount) provided that if the
            amounts available for distribution under this item (K) (on the
            assumption that no amounts are due and payable under item (J) and
            no amounts are received from any Issuer Swap Provider) would be
            insufficient to pay the sterling equivalent of the amounts due and
            payable under this item (K), the shortfall shall be divided
            amongst all such amounts on a pro rata basis and the amount
            payable by the Master Issuer to the Issuer Swap Provider in
            respect of any Series of Class C Notes under item (J) above shall
            be reduced by the amount of the shortfall applicable to that
            Series of Class C Notes;

      (L)   twelfth, subject to item (M) below, in no order of priority among
            them but in proportion to the respective amounts due, to pay
            amounts due to the Issuer Swap Providers for each Series of Class
            D Notes (excluding any swap termination payment);

      (M)   thirteenth, in no order of priority among them but in proportion
            to the respective amounts due, to pay interest due or overdue on,
            and to repay principal of, the applicable Series of Class D Notes
            and to pay any Swap Termination Payment due to the Issuer Swap
            Provider for each Series of Class D Notes (but excluding any
            Issuer Swap Excluded Termination Amount) provided that if the
            amounts available for distribution under this item (M) (on the
            assumption that no amounts are due and payable under item (L) and
            no amounts are received from any Issuer Swap Provider) would be
            insufficient to pay the sterling equivalent of the amounts due and
            payable under this item (M), the shortfall shall be divided
            amongst such amounts on a pro rata basis

                                      13
<PAGE>

            and the amount payable by the Master Issuer to the Issuer Swap
            Provider in respect of any Series of Class D Notes under item (L)
            above shall be reduced by the amount of the shortfall applicable
            to that Series of Class D Notes;

      (N)   fourteenth, on the Monthly Payment Date falling in December of
            each year, to pay to each Issuer Account Bank an amount equal to
            the amount of any debit balance in the Issuer Transaction Account
            as permitted by each such Issuer Account Bank and outstanding at
            such Monthly Payment Date;

      (O)   fifteenth, in no order of priority among them but in proportion to
            the respective amounts due, towards payment of:

            (i)   interest amounts due to the Start-Up Loan Provider(s); and

            (ii)  principal amounts due to the Start-Up Loan Provider(s) to
                  the extent of issuance fees received from Funding 2 under
                  the Global Intercompany Loan Agreement);

            under the Start-Up Loan Agreement(s);

      (P)   sixteenth, in no order of priority among them but in proportion to
            the respective amounts due, to pay any Issuer Swap Excluded
            Termination Payments to the Issuer Swap Providers;

      (Q)   seventeenth, in no order of priority among them but in proportion
            to the respective amounts due, towards payment of principal
            amounts due to the Start-Up Loan Provider(s) under the Start-Up
            Loan Agreements;

      (R)   last, to pay any amount remaining following the application of
            principal and revenue set forth in items (A) through (Q) above, to
            the Master Issuer.

                                      14
<PAGE>

IN WITNESS WHEREOF this Deed has been executed as a deed and delivered by the
parties hereto on the day and year first above written.

as Master Issuer
EXECUTED AND DELIVERED AS A DEED             )
by                                           )
GRANITE MASTER ISSUER PLC                    )
acting by two directors                      )

/s/ Ian Bowden
-------------------------
for and on behalf of
LDC Securitisation Director No. 1 Limited
Director

Name: Ian Bowden

/s/ Sharon Tyson
-------------------------
for and on behalf of
LDC Securitisation Director No. 2 Limited
Director

Name: Sharon Tyson

                                      15
<PAGE>

as Issuer Security Trustee and Note Trustee
EXECUTED AND DELIVERED AS A DEED              )
by                                            )
THE BANK OF NEW YORK                          )
by its duly authorised signatory              )

/s/ Helen Kim
-------------------------------
Name: Helen Kim

in the presence of:
                                     Signature   /s/ Ivan Bass
                                                 -------------------------
                                                 Witness
                                     Full name   Ivan Bass
                                     Occupation  Trust Associate
                                     Address     The Bank of New York
                                                 One Canada Square
                                                 London E14 5AL

                                      16
<PAGE>

as Agent Bank, Account Bank, Principal Paying Agent, Registrar and
Transfer Agent
EXECUTED AND DELIVERED AS A DEED
by
CITIBANK, N.A.
by its duly authorised signatory

/s/ Georgia Mitchell
-------------------------------
Name: Georgia Mitchell
      Vice President

in the presence of:
                                     Signature   /s/ David John Mares
                                                 ------------------------
                                                 Witness
                                     Full name   David John Mares
                                     Occupation  Bank Officer
                                                 Agency & Trust
                                     Address     c/o Citigroup Centre
                                                 25 Canada Square
                                                 Canary Wharf
                                                 London E14 5LB

as US Paying Agent

EXECUTED AND DELIVERED AS A DEED              )
by                                            )
CITIBANK N.A.                                 )
by its duly authorised signatory              )

/s/ Georgia Mitchell
-------------------------------
Name: Georgia Mitchell
      Vice President

in the presence of:
                                     Signature   /s/ David John Mares
                                                 ------------------------
                                                 Witness
                                     Full name   David John Mares
                                     Occupation  Bank Officer
                                                 Agency & Trust
                                     Address     c/o Citigroup Centre
                                                 25 Canada Square
                                                 Canary Wharf
                                                 London E14 5LB

                                      17
<PAGE>

as Issuer Cash Manager, Issuer GIC Provider and
Start-Up Loan Provider, Issuer GIC Account
Bank, Issuer Transaction Account
Bank and New Issuer Secured Creditor
EXECUTED AND DELIVERED AS A DEED              )
for and on behalf of                          )
NORTHERN ROCK PLC                             )
by its duly authorised attorney               )

/s/ Christopher Jobe
-------------------------
Name: Christopher Jobe

in the presence of:
                                     Signature   /s/ Nancy Irwin
                                                 ------------------------
                                                 Witness
                                     Full name   Nancy Irwin
                                     Occupation  Securitisation Manager
                                     Address     Northern Rock plc
                                                 Northern Rock House
                                                 Gosforth
                                                 Newcastle upon Tyne
                                                 NE3 4PL

                                      18
<PAGE>

as Corporate Services Provider
EXECUTED AND DELIVERED AS A DEED              )
by                                            )
LAW DEBENTURE CORPORATE                       )
SERVICES LIMITED                              )
acting by a director and its secretary        )

/s/ Ian Bowden
-------------------------
Director
Name: Ian Bowden

/s/ Sharon Tyson
-------------------------
Secretary
Name: Sharon Tyson

                                      19
<PAGE>

as an Issuer Swap Provider
EXECUTED AND DELIVERED AS A DEED              )
for and on behalf of                          )
CITIGROUP GLOBAL MARKETS LIMITED              )
by its duly authorised signatory              )

/s/ Robert H. Liao
-------------------------
Name: Robert H. Liao
Managing Director

in the presence of:
                                     Signature   /s/ Mark Mathieson
                                                 -------------------------
                                                 Witness
                                     Full name   Mark Mathieson
                                     Occupation  Investment Banking
                                     Address     33 Canada Square
                                                 London E14 5LB

                                      20
<PAGE>

as an Issuer Swap Provider
EXECUTED AND DELIVERED AS A DEED              )
for and on behalf of                          )
BARCLAYS BANK PLC                             )
by its duly authorised attorney               )

/s/ Colin Corrodus
-------------------------
Name: Colin Corrodus

in the presence of:
                                     Signature   /s/ Paul Pak Shing Ng
                                                 ------------------------
                                                 Witness
                                     Full name   Paul Pak Shing Ng
                                     Occupation  Lawyer
                                     Address     5 The North Colonnade
                                                 Canary Wharf
                                                 London E14 4BB

                                      21
<PAGE>

as an Issuer Swap Provider
EXECUTED AND DELIVERED AS A DEED              )
for and on behalf of                          )
ABN AMRO BANK N.V., LONDON BRANCH             )
by two duly authorised signatories            )

/s/ Kenneth Nicoll
-------------------------
Authorised Signatory

Name: Kenneth Nicoll

/s/ Fadi Melcon
-------------------------
Authorised Signatory

Name: Fadi Melcon

                                      22
<PAGE>

as an Issuer Swap Provider
EXECUTED AND DELIVERED AS A DEED              )
for and on behalf of                          )
HSBC BANK PLC                                 )
by its duly authorised attorney               )

/s/ James Collins
-------------------------
Name: James Collins

in the presence of:
                                     Signature   /s/ Nicholas Doody
                                                 -------------------------
                                                 Witness
                                     Full name   Nicholas Doody
                                     Occupation  CRM
                                     Address     8 Canada Square

                                      23
<PAGE>

as an Issuer Swap Provider
EXECUTED AND DELIVERED AS A DEED              )
for and on behalf of                          )
BANQUE AIG, LONDON BRANCH                     )
by its duly authorised attorney               )

/s/ Richard Evelyn
-------------------------
Name: Richard Evelyn

in the presence of:
                                     Signature   /s/ Suzanne Stokes
                                                 -------------------------
                                                 Witness
                                     Full name   Suzanne Stokes
                                     Occupation  Assistant
                                     Address     1 Curzon Street
                                                 London
                                                 WIJ 5RT

                                      24
<PAGE>

as an Issuer Swap Provider                          Address for notices and
EXECUTED AND DELIVERED AS A DEED              )     communications:
for and on behalf of                          )     Swiss Re Financial Products
SWISS RE FINANCIAL PRODUCTS                   )     Corporation
CORPORATION                                   )     55 East 52nd Street
by its duly authorised attorney               )     New York, New York 10055
                                                    Attention General Counsel
                                                    Facsimile: (212) 317-5474

/s/ Frank Ronan
-------------------------
Managing Director

Name: Frank Ronan

in the presence of:
                                     Signature   /s/ Sarah Ill
                                                 -------------------------
                                                 Witness
                                     Full name   Sarah Ill
                                     Occupation  Associate
                                     Address     55 East 52nd Street
                                                 New York, New York 10055

                                      25
<PAGE>

as an Issuer Swap Provider
EXECUTED AND DELIVERED AS A DEED              )
for and on behalf of                          )
UBS A.G., LONDON BRANCH                       )
by two of its duly authorised signatories     )

/s/ Kate Binions
-------------------------
Director
Traded Products Legal

Name: Kate Binions

/s/ A Crommen
-------------------------
Executive Director
Traded Products Legal

Name: A Crommen

                                      26
<PAGE>

as an Issuer Swap Provider
EXECUTED AND DELIVERED AS A DEED              )
for and on behalf of                          )
DEUTSCHE BANK AG, LONDON BRANCH               )
by two of its duly authorised signatories     )

/s/ Megan Wallis
-------------------------
Legal Counsel

Name: Megan Wallis

/s/ Joe Kohler
-------------------------
Legal Counsel

Name: Joe Kohler

in the presence of:
                                     Signature   /s/ Thomas Adamson
                                                 -------------------------
                                                 Witness
                                     Full name   Thomas Adamson
                                     Occupation  Funds Administrator
                                     Address     Floor 6, 99 Bishopsgate
                                                 London,
                                                 United Kingdom
                                                 EC2N 2DB

                                      27

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