Quarterly and historical investor reports
Download a quarterly investor report for the note you’ve invested in. Each of these reports gives you details of how the equity release funding company that issued your note has performed over a period of three months.
Report archive
Investors reports are available 10 business days after the payment date. If the latest investor report is not shown below, please email erfsec@aviva.com and we will email a copy.
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ERF1
ERF2
ERF3
ERF4
ERF5
Notice issued 17 July 2020
Each of the Issuers under the Equity Release Funding plc securitisation transactions (ERF1, ERF2, ERF3, ERF4 and ERF5) note that the Halifax House Price Index (the “Index”) was rebased in September 2019. The Weighted Average Indexed LTV (the “LTV”) outlined in each Issuer’s quarterly Investor Reports are calculated using the Index. Each Issuer has today published a restated version of its latest Investor Report. Where relevant, the restated Investor Reports reflect changes to the LTV statistics as a result of the rebase of the Index.
In addition, following a review of the data and process used to produce the quarterly Investor Reports, a number of corrections have been made by each Issuer, which are shown in the relevant restated Investor Report. Each Issuer has noted in the relevant restated Investor Report all fields which have been restated.
Prior period Investor Reports will not be corrected.
The Issuers note in particular the following changes:
| Voluntary Repayment Rate | |||
|---|---|---|---|
| Issuer | Published (%) | Restated (%) | Change (%) |
| ERF1 | 1.77 | 2.76 | 0.99 |
| ERF2 | 1.30 | 2.36 | 1.06 |
| ERF3 | 1.39 | 1.80 | 0.41 |
| ERF4 | 1.34 | 1.68 | 0.34 |
| ERF5 | 1.79 | 1.79 | 0 |
| Repayment Rate | |||
|---|---|---|---|
| Issuer | Published (%) | Restated (%) | Change (%) |
| ERF3 | 2.78 | 5.82 | 3.04 |
| Time to sale | |||
|---|---|---|---|
| Issuer | Published (days) | Restated (days) | Change (days) |
| ERF1 | 192 | 268 | 76 |
| ERF2 | 225 | 274 | 49 |
| ERF3 | 259 | 276 | 17 |
| ERF4 | 265 | 290 | 25 |
| ERF5 | 310 | 306 | -4 |
| Weighted Average Indexed LTV * | ||
|---|---|---|
| Issuer | Published (%) | Restated (%) |
| ERF3 | 43.1 | 45.0 |
| ERF4 | 48.1 | 49.7 |
| ERF5 | 46.3 | 46.8 |
* The Indexed LTVs are calculated using Halifax House Price Index. The index was rebased in September 2019 and this report shows LTVs on the new basis.
All processes that were previously used to generate the statistics have been reviewed, corrected and tested to ensure the issue has been fully resolved. The corrections do not affect the amounts of any payments which have been made under the Notes or to other parties to the transactions.
Notice issued 3 March 2017
Errors have been identified in the financial reporting process used to generate the Loan to Values (LTVs) for the Loans in the Equity Release Funding plc securitisation transactions (ERF1, ERF2, ERF3, ERF4 and ERF5). This has impacted the LTV’s in investor reports dated prior to 1 March 2017.
The following sets out the impact on the unindexed LTV and indexed LTV that were set out in the latest published Investor Reports:
| Unindexed | Indexed | |||
|---|---|---|---|---|
| Issuer | Before (%) | After (%) | Before (%) | After (%) |
| ERF1 | 69.2 | 76.0 | 33.2 | 35.8 |
| ERF2 | 63.7 | 75.3 | 29.3 | 34.2 |
| ERF3 | 64.4 | 70.7 | 36.1 | 39.4 |
| ERF4 | 66.3 | 68.5 | 42.2 | 43.6 |
| ERF5 | 57.0 | 59.4 | 41.3 | 42.4 |
Where Unindexed refers to the original property value and Indexed means indexed from the original property valuation date using the annual Halifax Property Index.
Upon identification of the errors extensive tests and controls have been applied to give sufficient reassurance that the issues identified have now been corrected.
Updated Investor Reports for the latest quarter will be issued on or before 13 March 2017 (prior period investor reports will not be corrected).
Dated: 3 March 2017.
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