Common use of Swap Collateral Ledger Clause in Contracts

Swap Collateral Ledger. In connection with Swap Collateral the Current Issuer Cash Manager shall ensure that the appropriate debits and credits are made to the Swap Collateral Ledger in accordance with Clause 5.6 (Swap Collateral). SCHEDULE 3 FORM OF ISSUER QUARTERLY REPORT GRANITE MORTGAGES 03-1 PLC PROFIT & LOSS ACCOUNT PERIOD ENDED This Quarter Prior Quarter {pound-sterling}000's {pound-sterling}000's Interest Receivable - Intercompany Loan Interest Receivable - Cash Deposits/Authorised Investments ____________________________________________ Other Income Operating Expenses ____________________________________________ Profit/loss on ordinary activities before tax 0 0 Taxation ____________________________________________ Profit/loss on ordinary activities after tax 0 0 Retained profit brought forward 0 0 ____________________________________________ Retained profit for the year 0 0 ============================================ GRANITE MORTGAGES 03-1 PLC BALANCE SHEET PERIOD ENDED {pound-sterling}000's {pound-sterling}000's FIXED ASSET INVESTMENTS CURRENT ASSETS Interest Receivable 0 Other debtors 0 Cash at Bank 0 Current Issuer Transaction Account: ____________________ 0 ____________________ CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals 0 Interest Payable Accrual 0 Taxation 0 ____________________ 0 ____________________ Net current assets 0 CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR Amount due to Noteholders 0 ____________________ Total Assets less current liabilities 0 ==================== Share Capital 0 Reserves 0 ____________________ 0 ==================== 0

Swap Collateral Ledger. In connection with Swap Collateral the Current Issuer Cash Manager shall ensure that the appropriate debits and credits are made to the Swap Collateral Ledger in accordance with Clause 5.6 (Swap Collateral). SCHEDULE 3 FORM OF ISSUER QUARTERLY REPORT GRANITE MORTGAGES 03-1 2 PLC PROFIT & LOSS ACCOUNT PERIOD ENDED This Quarter Prior Quarter {pound-sterling}000sterling} 000's {pound-sterling}000sterling} 000's Interest Receivable - Intercompany Loan Interest Receivable - Cash Deposits/Authorised Investments ____________________________________________ ----------------------- ---------------------- 0 0 Interest Payable - Notes Interest Payable ----------------------- ---------------------- 0 0 ----------------------- ---------------------- Net Operating Income 0 0 Other Income Operating Expenses ____________________________________________ ----------------------- ---------------------- Profit/loss on ordinary activities before tax 0 0 Taxation ____________________________________________ ----------------------- ---------------------- Profit/loss on ordinary activities after tax 0 0 Retained profit brought forward 0 0 ____________________________________________ ----------------------- ---------------------- Retained profit for the year 0 0 ======================= ====================== GRANITE MORTGAGES 03-1 2 PLC BALANCE SHEET PERIOD ENDED {pound-sterling}000sterling} 000's {pound-sterling}000sterling} 000's FIXED ASSET INVESTMENTS CURRENT ASSETS Interest Receivable 0 Other debtors 0 Cash at Bank 0 Current Issuer Transaction Account: ____________________ ---------------------- 0 ____________________ ---------------------- CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals 0 Interest Payable Accrual 0 Taxation 0 ____________________ ---------------------- 0 ____________________ ---------------------- Net current assets 0 CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR Amount due to Noteholders 0 ____________________ ---------------------- Total Assets less current liabilities 0 ====================== Share Capital 0 Reserves 0 ____________________ ---------------------- 0 ==================== 0===

Swap Collateral Ledger. In connection with Swap Collateral the Current Issuer Cash Manager shall ensure that the appropriate debits and credits are made to the Swap Collateral Ledger in accordance with Clause 5.6 (Swap Collateral). SCHEDULE 3 FORM OF ISSUER QUARTERLY REPORT GRANITE MORTGAGES Form of Issuer Quarterly Report Granite Mortgages 03-1 PLC PROFIT 3 plc Profit & LOSS ACCOUNT PERIOD ENDED Loss Account Period Ended This Quarter Prior Quarter {pound-sterling}000Quarter (GBP) 000's {pound-sterling}000(GBP) 000's Interest Receivable - Intercompany Loan Interest Receivable - Cash Deposits/Authorised Investments ____________________________________________ ------------ ----------- 0 0 Interest Payable - Notes Interest Payable ------------ ----------- 0 0 ------------ ----------- Net Operating Income 0 0 Other Income Operating Expenses ____________________________________________ ------------ ----------- Profit/loss on ordinary activities before tax 0 0 Taxation ____________________________________________ ------------ ----------- Profit/loss on ordinary activities after tax 0 0 Retained profit brought forward 0 0 ____________________________________________ ------------ ----------- Retained profit for the year 0 0 ================================== =========== GRANITE MORTGAGES Granite Mortgages 03-1 PLC BALANCE SHEET PERIOD ENDED {pound-sterling}0003 plc Balance Sheet Period Ended (GBP) 000's {pound-sterling}000(GBP) 000's FIXED ASSET INVESTMENTS CURRENT ASSETS Fixed Asset Investments Intercompany Lending 0 Current Assets Interest Receivable 0 Other debtors 0 Cash at Bank 0 Current Issuer Transaction Account: ____________________ ------------ 0 ____________________ CREDITORS------------ Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR Amounts falling due within one year Accruals 0 Interest Payable Accrual 0 Taxation 0 ____________________ ------------ 0 ____________________ ------------ Net current assets 0 CREDITORSCreditors: AMOUNTS FALLING DUE AFTER ONE YEAR Amounts falling due after one year Amount due to Noteholders 0 ____________________ ----------- Total Assets less current liabilities 0 ==================== Share Capital 0 Reserves 0 ____________________ ----------- 0 ==================== 0

Swap Collateral Ledger. In connection with Swap Collateral the Current Issuer Cash Manager shall ensure that the appropriate debits and credits are made to the Swap Collateral Ledger in accordance with Clause 5.6 (Swap Collateral). SCHEDULE 3 FORM OF ISSUER QUARTERLY REPORT GRANITE MORTGAGES Form of Issuer Quarterly Report Granite Mortgages 03-1 PLC PROFIT 3 plc Profit & LOSS ACCOUNT PERIOD ENDED Loss Account Period Ended This Quarter Prior Quarter {pound-sterling}000(GBP) 000's {pound-sterling}000(GBP) 000's Interest Receivable - Intercompany Loan Interest Receivable - Cash Deposits/Authorised Investments ____________________________________________ Interest Payable - Notes Other Income Operating Expenses ____________________________________________ Profit/loss on ordinary activities before tax 0 0 Taxation ____________________________________________ Profit/loss on ordinary activities after tax 0 0 Retained profit brought forward 0 0 ____________________________________________ Retained profit for the year 0 0 ============================================ GRANITE MORTGAGES Granite Mortgages 03-1 PLC BALANCE SHEET PERIOD ENDED {pound-sterling}0003 plc Balance Sheet Period Ended (GBP) 000's {pound-sterling}000(GBP) 000's FIXED ASSET INVESTMENTS CURRENT ASSETS Fixed Asset Investments Intercompany Lending 0 Current Assets Interest Receivable 0 Other debtors 0 Cash at Bank 0 Current Issuer Transaction Account: ____________________ 0 ____________________ CREDITORSCreditors: AMOUNTS FALLING DUE WITHIN ONE YEAR Amounts falling due within one year Accruals 0 Interest Payable Accrual 0 Taxation 0 ____________________ 0 ____________________ =========== Net current assets 0 CREDITORSCreditors: AMOUNTS FALLING DUE AFTER ONE YEAR Amounts falling due after one year Amount due to Noteholders 0 ____________________ Total Assets less current liabilities 0 ==================== Share Capital 0 Reserves 0 ____________________ 0 ==================== 0Granite Mortgages 03-3 plc Balance Sheet Period ended Current Issuer Notes to Balance Sheet: Principal Deficiency Ledger Class A Principal Deficiency Sub Ledger Opening PDL Balance Losses this Quarter Amount of PDL top-up Closing PDL Balance Class B Principal Deficiency Sub Ledger Opening PDL Balance Losses this Quarter Amount of PDL top-up Closing PDL Balance Class C Principal Deficiency Sub Ledger Opening PDL Balance Losses this Quarter Amount of PDL top-up Closing PDL Balance Granite Mortgages 03-3 plc Notes Outstanding Period Ended Series 1 Class A1 Series 1 Class A2 Series 2 Class A1 Series 2 Class A2 Series 3 Class A Moody's Current Rating Fitch Ratings Current Rating S&P Current Ratxxx Series 1 Class B Series 2 Class B Series 3 Class B Moody's Current Rating Fitch Ratings Current Rating S&P Current Ratxxx Series 1 Class M Series 2 Class M Series 3 Class M Moody's Current Rating Fitch Ratings Current Rating S&P Current Ratxxx Series 1 Class C Series 2 Class C Series 3 Class C Moody's Current Rating Fitch Ratings Current Rating S&P Current Ratxxx Series 1 Class A1 Series 1 Class A2 Series 2 Class A1 Series 2 Class A2 Series 3 Class A Initial Note Balance Previous Quarters Note Principal Note Redemptions Outstanding Note Principal Series 1 Class B Series 2 Class B Series 3 Class B Initial Note Balance Previous Quarters Note Principal Note Redemptions Outstanding Note Principal Series 1 Class M Series 2 Class M Series 3 Class M Initial Note Balance Previous Quarters Note Principal Note Redemptions Outstanding Note Principal Series 1 Class C Series 2 Class C Series 3 Class C Initial Note Balance Previous Quarters Note Principal Note Redemptions Outstanding Note Principal Series 1 Class A1 Series 1 Class A2 Series 2 Class A1 Series 2 Class A2 Series 3 Class A Note Interest Margins Step Up Dates Step Up Margins Series 1 Class B Series 2 Class B Series 3 Class B Note Interest Margins Step Up Dates Step Up Margins Series 1 Class M Series 2 Class M Series 3 Class M Note Interest Margins Step Up Dates Step Up Margins

Swap Collateral Ledger. In connection with Swap Collateral the Current Issuer Cash Manager shall ensure that the appropriate debits and credits are made to the Swap Collateral Ledger in accordance with Clause 5.6 (Swap Collateral). SCHEDULE 3 FORM OF ISSUER QUARTERLY REPORT GRANITE MORTGAGES 03-1 2 PLC PROFIT & LOSS ACCOUNT PERIOD ENDED This Quarter Prior Quarter {pound-sterling}000sterling} 000's {pound-sterling}000sterling} 000's Interest Receivable - Intercompany Loan Interest Receivable - Cash Deposits/Authorised Investments ____________________________________________ ---------------------- ---------------------- 0 0 Interest Payable - Notes Interest Payable ---------------------- ---------------------- 0 0 ---------------------- ---------------------- Net Operating Income 0 0 Other Income Operating Expenses ____________________________________________ ---------------------- ---------------------- Profit/loss on ordinary activities before tax 0 0 Taxation ____________________________________________ ---------------------- ---------------------- Profit/loss on ordinary activities after tax 0 0 Retained profit brought forward 0 0 ____________________________________________ ---------------------- ---------------------- Retained profit for the year 0 0 ======================= ====================== GRANITE MORTGAGES 03-1 2 PLC BALANCE SHEET PERIOD ENDED {pound-sterling}000sterling} 000's {pound-sterling}000sterling} 000's FIXED ASSET INVESTMENTS Intercompany Lending 0 CURRENT ASSETS Interest Receivable 0 Other debtors 0 Cash at Bank 0 Current Issuer Transaction Account: ____________________ ---------------------- 0 ____________________ ---------------------- CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals 0 Interest Payable Accrual 0 Taxation 0 ____________________ ---------------------- 0 ____________________ ---------------------- Net current assets 0 CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR Amount due to Noteholders 0 ____________________ ---------------------- Total Assets less current liabilities 0 ====================== Share Capital 0 Reserves 0 ____________________ ---------------------- 0 ====================== 0Current Issuer Notes to Balance Sheet: Principal Deficiency Ledger Class A Principal Deficiency Sub Ledger Opening PDL Balance Losses this Quarter Amount of PDL top-up Closing PDL Balance Class B Principal Deficiency Sub Ledger Opening PDL Balance Losses this Quarter Amount of PDL top-up Closing PDL Balance Class C Principal Deficiency Sub Ledger Opening PDL Balance Losses this Quarter Amount of PDL top-up Closing PDL Balance GRANITE MORTGAGES 03-2 PLC NOTES OUTSTANDING PERIOD ENDED SERIES 1 CLASS A1 SERIES 1 CLASS A2 SERIES 1 CLASS A3 SERIES 2 CLASS A SERIES 3 CLASS A Moody's Current Rating Fitch Ratings Current Rating S&P Current Xxxxxx SERIES 1 CLASS B SERIES 2 CLASS B SERIES 2 CLASS M Moody's Current Rating Fitch Ratings Current Rating S&P Current Xxxxxx SERIES 1 CLASS C SERIES 2 CLASS C1 SERIES 2 CLASS C2 SERIES 3 CLASS C Moody's Current Rating Fitch Ratings Current Rating S&P Current Xxxxxx SERIES 1 CLASS A1 SERIES 1 CLASS A2 SERIES 1 CLASS A3 SERIES 2 CLASS A SERIES 3 CLASS A Initial Note Balance Previous Quarters Note Principal Note Redemptions Outstanding Note Principal SERIES 1 CLASS B SERIES 2 CLASS B SERIES 2 CLASS M Initial Note Balance Previous Quarters Note Principal Note Redemptions Outstanding Note Principal SERIES 1 CLASS C SERIES 2 CLASS C1 SERIES 2 CLASS C2 SERIES 3 CLASS C Initial Note Balance Previous Quarters Note Principal Note Redemptions Outstanding Note Principal SERIES 1 CLASS A SERIES 2 CLASS A SERIES 3 CLASS A Note Interest Margins Step Up Dates Step Up Margins SERIES 1 CLASS B SERIES 2 CLASS B SERIES 2 CLASS M Note Interest Margins Step Up Dates Step Up Margins SERIES 1 CLASS C SERIES 2 CLASS C1 SERIES 2 CLASS C2 SERIES 3 CLASS C Note Interest Margins Step Up Dates Step Up Margins Payment Cycle Payment Date Next Payment Date

Swap Collateral Ledger. In connection with Swap Collateral the Current Issuer Cash Manager shall ensure that the appropriate debits and credits are made to the Swap Collateral Ledger in accordance with Clause 5.6 4.7 (Swap Collateral). SCHEDULE 3 FORM OF ISSUER QUARTERLY REPORT GRANITE MORTGAGES 03-1 PERMANENT MASTER ISSUER PLC PROFIT & LOSS ACCOUNT PERIOD ENDED This THIS QUARTER ([POUND]) INTERCOMPANY LOAN BALANCES Total intercompany loan balance Last Quarter Prior Quarter {pound-sterling}000's {pound-sterling}000's Interest Receivable - Intercompany Loan Interest Receivable - Closing balance Repayments New Term Advances Cash Deposits/Authorised Investments ____________________________________________ Other Income Operating Expenses ____________________________________________ Profit/loss on ordinary activities before tax 0 0 Taxation ____________________________________________ Profit/loss on ordinary activities after tax 0 0 Retained profit brought forward 0 0 ____________________________________________ Retained profit for the year 0 0 =================Accumulated --------------------------- Closing Balance =========================== GRANITE MORTGAGES 03-1 PLC BALANCE SHEET PERIOD ENDED {pound-sterling}000's {pound-sterling}000's FIXED ASSET INVESTMENTS CURRENT ASSETS Interest Receivable 0 Other debtors 0 Cash at Bank 0 Current Issuer Transaction Account: ____________________ 0 ____________________ CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accruals 0 Interest Payable Accrual 0 Taxation 0 ____________________ 0 ____________________ Net current assets 0 CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR Amount due to Noteholders 0 ____________________ Total Assets less current liabilities 0 CASH ACCUMULATION LEDGER Opening Balance Losses this Quarter Principal Received Principal paid --------------------------- Closing Balance =========================== Share Capital 0 Reserves 0 ____________________ 0 ==================== 0PERMANENT MASTER ISSUER PLC NOTES OUTSTANDING PERIOD ENDED SERIES [*] CLASS A SERIES [*] CLASS A SERIES [*] CLASS A SERIES [*] CLASS A Moody's Current Rating [Aaa] [Aaa] [Aaa] [Aaa] Fitch Current Rating [AAA] AAA [AAA] [AAA] S&P Current Rating [AAA] AAA [AAA] [AAA] SERIES [*] CLASS B SERIES [*] CLASS B SERIES [*] CLASS B SERIES [*] CLASS B Moody's Current Rating [Aa3] [Aa3] [Xa3] [Aa3] Fitch Current Rating [AA] [AA] [AA] [AA] S&P Current Rating [AA] [AA] [AA] [AA] SERIES [*] CLASS M SERIES [*] CLASS M SERIES [*] CLASS M SERIES [*] CLASS M Moody's Current Rating [A2] [A2] [X2] [A2] Fitch Current Rating [A] [A] [A] [A] S&P Current Rating [A] [A] [A] [A] SERIES [*] CLASS C SERIES [*] CLASS C SERIES [*] CLASS C SERIES [*] CLASS C Moody's Current Rating [Baa2] [Baa2] [Xxa2] [Baa2] Fitch Current Rating [BBB] [BBB] [BBB] [BBB] S&P Current Rating [BBB] [BBB] [BBB] [BBB]