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First Flexible No.2 plc - May 2000

Issuer First Flexible (No.2)  PLC, St Catherine's Court, Herbert Road, Solihull, West Midlands, B91 3QE
Closing Date 30 May 2000
Originators Mortgage Trust Limited, St Catherine's Court, Herbert Road, Solihull, West Midlands, B91 3QE
Notes Issued Class A1 Class B
  £276,000,000 £24,000,000
Note Denomiations £100,000 £100,000
Margins 29bp 80bp
Step Up Dates June 2007 June 2007
Step Up Margins 58bp 160bp
Optional Redemption Dates July 2006 July 2006
Determination Dates 8 business days prior to each Interest Payment Date
Monthly Interest Payment Dates First business day of the month
Lead Manager J.P. Morgan Securities Ltd, 60 Victoria Embankment, London, EC4Y 0JP
Servicer Mortgage Trust Services plc, St. Catherine's Court, Herbert Road, Solihull, West Midlands, B91 3QE
Trustee Citicorp Trustee Company Limited, Citigroup Centre, 14th Floor, Canada Square, Canary Wharf, London, E14 5LB
Rating Agency Moody’s Investor Services Limited, 2 Minster Court, Mincing Lane, London, EC3R 7XB
Fitch Ratings Limited, 4th Floor, 101 Finsbury Pavement, London, EC2A 1RS
Principal Paying / Reference Agent/Exchange Rate Agent Citibank N.A., 5 Carmelite Street, London, EC4Y 0PA
Legal Advisors to the Issuer/Administrator Lovells, 65 Holburn Viaduct, London, EC1A 2DY
Legal Advisors to the Lead Managers and Trustee Weil, Gotshal & Manges, One South Place, london, EC2M 2WG
Auditors to the Issuer KPMG Audit Plc, 1 The Embankment, Neville Street, Leeds, LS1 4DW
Underlying Assets First Charged Residential Investment Home Loan Mortgages
Start Up Loan Provider Mortgage Trust Serivces plc, St. Catherine's Court, Herbert Road, Solihull, West Midlands, B91 3QE
Stand By Servicer First Active plc, Central Park, Leopardstown, Dublin 18
SWAP Counterparty Morgan Guaranty Trust Company of New York, 60 Victoria Embankment, London, EC4Y 0JP
Redraw Facility Provider Barclays Bank PLC, 54 Lombard Street, London, EC3V 9EX
GIC Provider Barclays Bank PLC, 54 Lombard Street, London, EC3V 9EX
Substitution Period May 2000 to June 2003