FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
Securities Exchange Act of 1934
For the month of June 2003
HOLMES FINANCING (No 5) PLC
HOLMES FUNDING LIMITED
HOLMES TRUSTEES LIMITED
(Translation of registrant's name into English)
Abbey National House, 2 Triton Square, Regent's
Place, London NW1 3AN, England
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F ...X... Form 40-F .......
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes ...... No ...X...
.. .
Holmes Financing No 5 plc
Periodic Report re Holmes Trustees Limited and Holmes Funding Limited
For Period 09 May 2003 to 09 June 2003
All values are in thousands of pounds sterling unless otherwise stated
Mortgage Asset Analysis
Analysis of Mortgage Trust Movements
-----------------------------------------
Current Period
-----------------------------------------
Number (pound)000's
-----------------------------------------
Brought Forward 361,518 23,904,638
Replenishment 21,578 1,629,438
Repurchased (10,741) (712,444)
Redemptions (9,904) (803,624)
Losses (6) (5)
Capitalised Interest 0 574
Other Movements 0 1
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Carried Forward 362,445 24,018,578
=========================================
-----------------------------------------
Cumulative
-----------------------------------------
Number (pound)000's
-----------------------------------------
Brought Forward 115,191 6,399,214
Replenishment 556,538 39,563,178
Repurchased (142,692) (9,906,861)
Redemptions (166,355) (12,042,857)
Losses (237) (625)
Capitalised Interest 0 6,528
Other Movements 0 1
-----------------------------------------
Carried Forward 362,445 24,018,578
=========================================
Period CPR Annualised CPR
-----------------------------------------
1 Month 6.31% 105.58% **(including
-----------------------------------------
3 Month 15.79% 81.24% redemptions and
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12 Month 58.14% 58.14% repurchases)
-----------------------------------------
** The annualised CPR's are expressed as a percentage of the
outstanding balance at the end of the period
Asset Profiles
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Weighted Average Seasoning 33.97 months
---------------------
Weighted Average Loan size (pound)66,268.20
---------------------
Weighted Average LTV 76.85% *** (see below)
---------------------
Weighted Average Remaining Term 19.01 Years
---------------------
Holmes Financing No 5 plc
Periodic Report re Holmes Trustees Limited and Holmes Funding Limited
For Period 09 May 2003 to 09 June 2003
All values are in thousands of pounds sterling unless otherwise stated
-----------------------------------------
Product Type Analysis (pound)000's %
-----------------------------------------
Variable Rate 10,395,241 43.28%
Fixed Rate 5,286,489 22.01%
Tracker Rate 8,336,848 34.71%
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24,018,578 100.00%
====================---------------------
As at 9th June 2003 approximately 6% of the loans were flexible loans
Mortgage Standard Variable Rate
Effective Date Rate
-------------- ----
01 March 2003 5.79%
01 November 2002 5.94%
01 December 2001 6.10%
Geographic Analysis
- ----------------------------------------------------------------------------------------------------
Region Number (pound)000's %
- ----------------------------------------------------------------------------------------------------
East Anglia 14,015 841,194 3.50%
East Midlands 19,114 1,066,463 4.44%
Greater London 61,973 5,295,308 22.05%
North 15,443 741,729 3.09%
North West 41,605 2,137,635 8.90%
Scotland 13,973 750,934 3.13%
South East 95,425 7,524,928 31.33%
South West 28,241 1,829,341 7.62%
Wales 18,503 901,549 3.75%
West Midlands 24,459 1,377,536 5.74%
Yorkshire and Humberside 22,943 1,127,571 4.69%
Unknown 6,751 424,390 1.77%
- ----------------------------------------------------------------------------------------------------
Total 362,445 24,018,578 100.00%
- --------------------------------------==============================================================
Holmes Financing No 5 plc
Periodic Report re Holmes Trustees Limited and Holmes Funding Limited
For Period 09 May 2003 to 09 June 2003
All values are in thousands of pounds sterling unless otherwise stated
Original LTV Bands
--------------------------------------------------------------
Range Number (pound)000's %
--------------------------------------------------------------
0.00 - 25.00 7,011 284,141 1.18%
25.01 - 50.00 42,879 2,326,294 9.69%
50.01 - 75.00 101,051 7,190,583 29.94%
75.01 - 80.00 19,426 1,416,051 5.90%
80.01 - 85.00 25,126 1,896,149 7.89%
85.01 - 90.00 53,485 4,143,180 17.25%
90.01 - 95.00 113,467 6,762,180 28.15%
--------------------------------------------------------------
Total 362,445 24,018,578 100.00%
==============================================================
*** The balance is the current outstanding balance on the account including
accrued interest. The LTV is that at origination and excludes any
capitalised high loan to value fees, valuation fees or booking fees.
Arrears
----------------------------------------------------------------------------------
Band Number Principal Overdue %
----------------------------------------------------------------------------------
Current 352,044 23,400,415 (2,568) 97.45%
1.00 - 1.99 months 6,624 392,724 3,112 1.64%
2.00 - 2.99 months 1,638 96,414 1,411 0.40%
3.00 - 3.99 months 796 47,323 1,009 0.20%
4.00 - 4.99 months 440 25,709 701 0.11%
5.00 - 5.99 months 296 16,573 557 0.07%
6.00 -11.99 months 501 28,545 1,368 0.12%
12 months and over 48 2,481 237 0.01%
Properties in Possession 58 2,370 197 0.01%
----------------------------------------------------------------------------------
Total 362,445 24,012,554 6,024 100.00%
==================================================================================
Definition of Arrears
This arrears multiplier is calculated as the arrears amount (which is the
difference between the expected monthly repayments and the amount that has
actually been paid, i.e. a total of under and/or over payments) divided by the
monthly amount repayable. It is recalculated every time the arrears amount
changes, i.e. on the date when a payment is due.
Holmes Financing No 5 plc
Periodic Report re Holmes Trustees Limited and Holmes Funding Limited
For Period 09 May 2003 to 09 June 2003
All values are in thousands of pounds sterling unless otherwise stated
Movement in Shares of Trust
Funding Seller
-----------------------------------------
(pound)000's (pound)000's
-----------------------------------------
Balance Brought Forward 14,636,343 9,268,295
Replenishment of Assets 0 1,629,438
Acquisition by Funding 0 0
Distribution of Principal Receipts 0 (1,516,067)
Allocation of Losses (3) (2)
Share of Capitalised Interest 359 215
Payment Re Capitalised Interest (359) 359
-----------------------------------------
Balance Carried Forward 14,636,340 9,382,238
=========================================
-----------------------------------------
Carried Forward Percentage 60.93758% 39.06242%
=========================================
-----------------------------------------
Minimum Seller Share 960,502 4.00%
-----------------------------------------
Cash Accumulation Ledger
---------------------
(pound)000's
---------------------
Brought Forward 1,080,646
---------------------
Additional Amounts Accumulated 3
Payment of Notes 0
---------------------
Carried Forward 1,080,649
=====================
---------------------
Target Balance 1,080,646 payable on 15th July
---------------------2003
Liquidity Facilities Drawn(pound)000's Undrawn(pound)000's
- --------------------
-----------------------------------------
Holmes Funding (pound)0 (pound)25,000
-----------------------------------------
Holmes Financing 1 (pound)0 (pound)25,000
-----------------------------------------
Holmes Financing 2 (pound)0 (pound)25,000
-----------------------------------------
Holmes Financing 3 (pound)0 (pound)25,000
-----------------------------------------
Holmes Financing 4 (pound)0 (pound)25,000
-----------------------------------------
Holmes Financing 5 (pound)0 (pound)25,000
-----------------------------------------
Holmes Financing 6 (pound)0 (pound)25,000
-----------------------------------------
Excess Spread
---------------------
Quarter to 15/4/03 0.6113%
---------------------
Quarter to 15/1/03 0.5960%
---------------------
Quarter to 15/10/2002 0.5892%
---------------------
Quarter to 15/7/2002 0.5891%
---------------------
Holmes Financing No 5 plc
Periodic Report re Holmes Trustees Limited and Holmes Funding Limited
For Period 09 May 2003 to 09 June 2003
All values are in thousands of pounds sterling unless otherwise stated
-----------------------------------------
Reserve Funds First Reserve Second Reserve
-----------------------------------------
Balance as at 15/04/2003 (pound)224,153,726.50 (pound)56,890,739.99
-----------------------------------------
Required Amount as at 15/04/2003 (pound)350,000,000.00(pound)154,931,296.00
-----------------------------------------
Percentage of Notes 1.53% 0.39%
-----------------------------------------
Properties in Possession
Stock
-----------------------------------------
Current Period
-----------------------------------------
Number (pound)000's
-----------------------------------------
Brought Forward 51 2,470
-----------------------------------------
Repossessed in Period 19 779
-----------------------------------------
Sold in Period (12) (682)
-----------------------------------------
Carried Forward 58 2,567
=========================================
-----------------------------------------
Cumulative
-----------------------------------------
Number (pound)000's
-----------------------------------------
Repossessed to date 312 14,708
Sold to date (254) (12,141)
-----------------------------------------
Carried Forward 58 2,567
=========================================
Repossession Sales Information
---------------------
Average time Possession to Sale 79 Days
---------------------
Average arrears at time of Sale (pound)3,028
---------------------
MIG Claim Status
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Number (pound)000's
-----------------------------------------
MIG Claims made 154 1,134
-----------------------------------------
MIG Claims outstanding 10 56
-----------------------------------------
---------------------
Average time claim to payment 36
---------------------
Trigger Events
There has been no debit to the AAA Principal Deficiency Ledger
The Seller has not suffered an Insolvency Event
The Seller is still the Servicer
The Outstanding Principal balance is in excess of (pound)21 billion
Holmes Financing No 5 plc
Periodic Report re Holmes Trustees Limited and Holmes Funding Limited
For Period 09 May 2003 to 09 June 2003
All values are in thousands of pounds sterling unless otherwise stated
Retired Class A Notes
- ------------------------------------------------------------------------------------------------------------------------------------
Date Retired Holmes 1 Holmes 2 Holmes 3 Holmes4 Holmes 5 Holmes 6 Holmes 7
- ------------------------------------------------------------------------------------------------------------------------------------
02Q3 - 703 - - 352 - -
02Q4 - - - - 352 - -
03Q1 - - 750 - - - -
- ------------------------------------------------------------------------------------------------------------------------------------
Outstanding Class A Notes
- ------------------------------------------------------------------------------------------------------------------------------------
Expected Redemption Holmes 1 Holmes 2 Holmes 3 Holmes4 Holmes 5 Holmes 6 Holmes 7
- ------------------------------------------------------------------------------------------------------------------------------------
03Q2 - - - - - - -
03Q3 600 - - - - 481 -
03Q4 - 176 - 191 - 481 -
04Q1 - 176 - 191 - - 241
04Q2 - 176 - 191 - - 241
04Q3 - 176 - 191 - - -
04Q4 - - - - 698 - -
05Q1 - - 750 - - - -
05Q2 - - - - - 801 -
05Q3 650 - - - - - -
05Q4 - 125 - - - - -
06Q1 - 125 - - - - 803
06Q2 - 125 - - - - -
06Q3 - 125 500 1,340 - - -
06Q4 - - - 350 875 - -
07Q1 - - - - - - 161
07Q2 - - - - - 634 161
07Q3 575 - - - - - -
07Q4 - 300 - - - 770 -
08Q1 - - - - - - -
08Q2 - - - - - 500 592
08Q3 - - - - - - -
08Q4 - - - - - - -
09Q1 - - - - - - -
09Q2 - - - - - - -
09Q3 - - - - - - -
09Q4 - - - - - - -
10Q1 - - - - - - -
10Q2 - - - - - - -
10Q3 250 - - - - - -
10Q4 - - - - - - -
- ------------------------------------------------------------------------------------------------------------------------------------
Holmes Financing No 5 plc
Periodic Report re Holmes Trustees Limited and Holmes Funding Limited
For Period 09 May 2003 to 09 June 2003
All values are in thousands of pounds sterling unless otherwise stated
[GRAPHIC OMITTED]
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
HOLMES FINANCING (No 5) PLC
Dated: 17 June, 2003 By /s/ Natalie Weedon
(Authorised Signatory)