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First Flexible (No.7) PLC - January 2007

Issuer First Flexible (No.7) PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Closing Date 25 January 2007
Originators Paragon Mortgages Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Mortgage Trust Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Mortgage Trust Services PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Notes Issued Class A Notes Class B Notes Class C Notes
Original Rating (S&P/Fitch) AAA/AAA AA/AA A/A
Current Rating (S&P/Fitch) AAA/AAA B-/A B-/A
Original Notes £260,500,000 £4,050,000 £4,050,000
Note Denominations £50,000 £50,000 £50,000
Initial Margins 12bp 18bp 28bp
Step Up Dates 15 March 2012 15 March 2012 15 March 2012
Step Up Margins 24bp 36bp 56bp
Optional Redemption Dates 15 March 2011 15 March 2011 15 March 2011
Principal Determination Dates Last business day of May, August, November, February
Quarterly Interest Payment Dates 15 June, 15 September, 15 December, 15 March
Lead Manager Barclays Bank PLC, 5 The North Colonnade, London, E14 4BB
Administrators Paragon Finance PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Mortgage Trust Services plc, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Trustee Citicorp Trustee Company Limited, Citigroup Centre, 6thFloor, Canada Square, Canary Wharf, London, E14 5LB
Rating Agencies Standard & Poor’s, 20 Canada Square, Canary Wharf, London, E14 5LH
Fitch Ratings Limited, 30 North Colonnade, London, E14 5GN
Principal Paying / Reference Agent/ Citibank, N.A. Citigroup Centre, 21stFloor, Canada Square, Canary Wharf, London, E14 5LB
Legal Advisors to the Issuer/Administrators Clifford Chance LLP, 10 Upper Bank Street, Canary Wharf, London, E14 5JJ
Legal Advisors to the Lead Manager and Trustee Herbert Smith LLP, Exchange House, Primrose Street, London, EC2A 2HS
Auditors to the Issuer KPMG, One Snowhill, Snowhill Queensway, Birmingham, B4 6GH
Underlying Assets First Charged Residential Owner Occupied Mortgages and First Charged Commercial Mortgages comprising wholly Commercial Properties or a mixture of Residential and Commercial Properties
Subordinated Loan Providers Paragon Finance PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Mortgage Trust Services PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Substitute Administrator Homeloan Management Limited, The Pavilions, Bridgwater Road, Bristol, BS13 8AE
Basis Hedge Provider JP Morgan Chase Bank, 12thFloor, 125 London Wall, London, EC2Y 5AJ
Flexible Drawing Facility Provider Barclays Bank PLC, 5 The North Colonnade, Canary Wharf, London, E14 4BB (Facility cancelled on 17th March 2014)