CORNHILL MORTGAGES NO.7 LIMITED

Accounting basis

IFRS

Reporting scope

Standalone (parent only)

Auditor

Grant Thornton

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“The directors consider that there is a reasonable prospect that the Company will continue to operate and therefore are content to prepare these accounts on a going concern basis.”

Significant events

• “On 6 April 2021 (the "Closing Date") the Company issued Notes to the value of £136,500,000 by drawing £126,000,000 from the Senior Facility and £10,500,000 from the Junior Facility and applied the proceeds to acquire an initial portfolio of buy to let residential mortgage loans secured over properties located in England and Wales (the "Mortgage Loans") from the Seller pursuant to a mortgage sale agreement (the "Sale Agreement").”
• “On 31 August 2022, the Company and Banco Santander S.A (the "Original Senior Noteholder" and "Senior Noteholder") signed a deed of amendment whereby further senior funding of £300,000,000 was agreed by BNP Paribas ("New Senior Noteholder").”
• “On 3 October 2022, the Company signed a partial deed of release whereby a portion of the Mortgage Loans in the amount of £299,999,030 was sold to a new securitised entity within the DAC group, Hops Hill No. 2 Plc. £215,000,000 of the Original Senior Noteholder, £60,000,000 of the New Senior Noteholder and £19,003,819 of the Junior Facility was repaid.”
• “On 24 May 2023, the Company signed a partial deed of release whereby a portion of the Mortgage Loans in the amount of £368,205,907 was sold to a new securitised entity within the DAC group, Hops Hill No. 3 Plc. £180,000,000 of the Original Senior Noteholder, £133,000,000 of the New Senior Noteholder and £24,423,696 of the Junior Facility was repaid.”
• “On 17 May 2024, the Company signed a partial deed of release whereby another portion of the Mortgage Loans in the amount of £180,135,685 was sold to a new securitised entity within the DAC group, Hops Hill No. 4 Plc. £103,000,000 of the Original Senior Noteholder, £66,500,000 of the New Senior Noteholder and £8,490,000 of the Junior Facility was repaid. In addition, £3,223,852 of Mortgages Loans was purchased from Hops Hill No.1 Plc.”
• “On 11 December 2024, the Company signed an amendment and restatement deed whereby Banco Santander S.A (the "Original Senior Noteholder") will cease to be Senior Noteholder and hedge counterparty effective 21 February 2025. Thereafter, senior funding of up to a maximum of £350,000,000 each will be provided by BNP Paribas and Lloyds Bank Plc.”
• “On 21 July 2025, the Company signed a deed of release whereby a portion of the Loans in the amount of £323,823,987 were sold to a new securitised entity within the DAC group, Hops Hill No. 5 Plc. £137,500,000 of the Original Senior Noteholder, £156,500,000 of the New Senior Noteholder and £22,962,598 of the Junior Noteholder was repaid.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

2

last 12 months

Capital events

0

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.