Tudor Rose Mortgages 2021-1 PLC: Presale Report
Tudor Rose 2021-1 will be a securitisation of the residential mortgage loans secured by first-lien mortgages originated by Axis Bank UK Ltd (Axis Bank) in the UK. The mortgage portfolio currently backs the notes issued by Tudor Rose Mortgages 2020-1 plc (Tudor Rose 2020-1) in June 2020. On the closing date, Jepson Limited (the Seller) will purchase the portfolio from the Tudor Rose 2020-1 special-purpose vehicle (SPV). On the same date (the closing date), the Seller will transfer the portfolio to the Tudor Rose 2021-1 SPV, a bankruptcy-remote SPV incorporated in the United Kingdom. BCMGlobal Mortgage Services Limited is the servicer of the transaction. In order to maintain servicing continuity, Intertrust Management Limited will be appointed as the backup servicer facilitator.
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