FORM 6-K/A
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Registrants
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of August, 2002
GRANITE MORTGAGES 01-2 PLC
(Translation of registrant's name into English)
Fifth Floor, 100 Wood Street,
London EC2V 7EX, England
(Address of principal executive offices)
GRANITE FINANCE TRUSTEES LIMITED
(Translation of registrant's name into English)
22 Grenville Street, St Helier,
Jersey JE4 8PX, Channel Islands
(Address of principal executive offices)
GRANITE FINANCE FUNDING LIMITED
(Translation of registrant's name into English)
35 New Bridge Street, 4th Floor,
Blackfriars, London EC4V 6BW,
England
(Address of principal executive offices)
Indicate by check mark whether the registrants file 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 registrants by furnishing the
information contained in this Form are also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
of 1934.
Yes............No.......X...........
The registrants have caused this amended report to be filed pursuant to Rule
12b-15 in order to amend the arrears analysis of non-repossessed mortgage
loans contained in the report filed on 26 September 2002.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrants have duly caused this report to be signed on their behalf by the
undersigned, thereunto duly authorized.
GRANITE MORTGAGES 01-2 PLC
By: /s/ Clive Rakestrow
-------------------------
Name: L.D.C. Securitisation Director
No. 1 Limited by its authorized person
Clive Rakestrow for and on its behalf
Title: Director
Date: 25 November 2002
GRANITE FINANCE FUNDING
LIMITED
By: /s/ Nigel Charles Bradley
-------------------------------
Name: Nigel Charles Bradley
Title: Director
Date: 25 November 2002
GRANITE FINANCE TRUSTEES
LIMITED
By: /s/ Richard Gough
-----------------------
Name: Richard Gough
Title: Director
Date: 25 November 2002
INVESTORS' MONTHLY REPORT
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GRANITE MORTGAGES 01-2 PLC
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Monthly Report re: Granite Mortgages 01-2 Plc, Granite Finance Trustees Limited
and Granite Finance Funding Limited
Period 1 August 2002 - 31 August 2002
N.B. this data fact sheet and its notes can only be a summary of certain
features of the bonds and their structure. No representation can be made that
the information herein is accurate or complete and no liability is accepted
therefor. Reference should be made to the issue documentation for a full
description of the bonds and their structure. This data fact sheet and its
notes are for information purposes only and are not intended as an offer or
invitation with respect to the purchase or sale of any security. Reliance
should not be placed on the information herein when making any decision
whether to buy, hold or sell bonds (or other securities) or for any other
purpose.
Mortgage Loans
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Number of Mortgage Loans in Pool 81,707
Current Balance (pound)4,973,190,800
Last Months Closing Trust Assets (pound)5,214,106,923
Funding share (pound)4,680,007,918
Funding Share Percentage 94.10%
Seller Share (pound)293,182,882
Seller Share Percentage 5.90%
Minimum Seller Share (Amount) (pound)102,689,715
Minimum Seller Share (% of Total) 2.06%
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Arrears Analysis of Non Repossessed Mortgage Loans
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Number Principal ((pound)) Arrears ((pound)) By Principal (%)
< 1 Month 81,083 4,938,750,929 0 99.31%
> = 1 < 3 Months 523 28,658,192 214,628 0.58%
> = 3 < 6 Months 83 4,792,027 104,572 0.10%
> = 6 < 9 Months 14 769,173 39,303 0.02%
> = 9 < 12 Months 2 73,634 4,523 0.00%
> = 12 Months 2 146,845 8,747 0.00%
Total 81,707 4,973,190,800 371,773 100.00%
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Properties in Possession
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Number Principal ((pound)) Arrears ((pound))
Total (since inception) 3 97,149 11,004
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Properties in Possession 1
Number Brought Forward 1
Repossessed 0
Sold 2
Number Carried Forward 0
Average Time from Possession to Sale 144
Average Arrears at Sale (pound)973
MIG Claims Submitted 2
MIG Claims Outstanding 2
Average Time from Claim to Payment 0
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Note: The arrears analysis and repossession information is at close of business for the report month
Substitution
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Number Principal ((pound))
Substituted this period 0 (pound)0
Substituted to date (since 26 March 2001) 82,454 (pound)5,240,269,578
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CPR Analysis
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Monthly Annualised
Current Month CPR Rate 4.84% 44.89%
Previous Month CPR Rate 4.51% 42.51%
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Weighted Average Seasoning (by value) Months 34.89
Weighted Average Remaining Term (by value) Years 18.80
Average Loan Size (pound)60,866
Weighted Average LTV (by value) 76.39%
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Product Breakdown
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Fixed Rate (by balance) 32.15%
Flexible - Together (by balance) 19.02%
Variable (by balance) 48.83%
Tracker (by balance) 0.00%
Total 100.00%
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Geographic Analysis
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Number % of Total Value ((pound)) % of Total
East Anglia 2,255 2.76% 136,762,747 2.75%
East Midlands 7,175 8.78% 388,903,521 7.82%
Greater London 10,213 12.50% 879,757,453 17.69%
North 14,291 17.49% 646,514,804 13.00%
North West 11,529 14.11% 606,729,278 12.20%
South East 12,673 15.51% 990,659,607 19.92%
South West 5,695 6.97% 363,042,928 7.30%
Wales 3,136 3.84% 164,115,296 3.30%
West Midlands 5,172 6.33% 302,867,320 6.09%
Yorkshire 9,568 11.71% 493,837,846 9.93%
Total 81,707 100% 4,973,190,800 100%
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LTV Levels Breakdown
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Number Value ((pound)) % of Total
< 10% 310 4,973,191 0.10%
> = 10% < 20% 989 31,331,102 0.63%
> = 20% < 30% 2,035 88,522,796 1.78%
> = 30% < 40% 3,293 175,056,316 3.52%
> = 40% < 50% 4,510 273,028,175 5.49%
> = 50% < 60% 6,095 401,833,817 8.08%
> = 60% < 70% 7,697 536,607,287 10.79%
> = 70% < 80% 10,581 731,059,048 14.70%
> = 80% < 90% 18,956 1,212,961,236 24.39%
> = 90% < 95% 17,828 1,028,455,857 20.68%
> = 95% < 100% 9,413 489,361,975 9.84%
> = 100% 0 0 0.00%
Total 81,707 4,973,190,800 100.0%
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NR Current Existing Borrowers' SVR 5.85%
Effective Date of Change 1 December 2001
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Notes Granite Mortgages 01-2 plc
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Outstanding Rating Reference Rate Margin
Moodys/S&P/Fitch
Series 1
A $ 1,050,000,000 Aaa/AAA/AAA 2.09% 0.23%
B $ 43,500,000 Aa3/AA/AA 2.26% 0.40%
C $58,000,000 Baa2/BBB/BBB 3.24% 1.38%
Series 2
A (pound)500,000,000 Aaa/AAA/AAA 4.27% 0.25%
B (pound)15,000,000 Aa3/AA/AA 4.44% 0.42%
C (pound)20,000,000 Baa2/BBB/BBB 5.42% 1.40%
D (pound)10,000,000 Ba2/BB+/BB+ 8.62% 4.60%
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Credit Enhancement
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% of Funding Share
Class B Notes ((pound)Equivalent) (pound)45,000,000 0.96%
Class C Notes ((pound)Equivalent) (pound)60,000,000 1.28%
Class D Notes (pound)10,000,000 0.21%
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Granite Mortgages 01-2 Reserve Fund Requirement (pound)20,000,000 0.43%
Balance Brought Forward (pound)20,000,000 0.43%
Drawings this Period (pound)0 0.00%
Reserve Fund Top-up this Period* (pound)0 0.00%
Excess Spread (pound)0 0.00%
Current Balance (pound)20,000,000 0.43%
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*Top-ups only occur at the end of each quarter.
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Funding Reserve Balance (pound)11,190,645 0.24%
Funding Reserve % 0.5% NA
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