1 EXHIBIT 21.1 SUBSIDIARIES OF CITYSCAPE FINANCIAL CORP. DECEMBER 31, 1997 The following is a list of the Company's subsidiaries which are all owned 100% by Cityscape Financial Corp. who is the ultimate or immediate parent: Name of Subsidiary Incorporated in - ------------------ --------------- A. Cityscape Corp. New York 1. Cityscape Funding Corporation Delaware 2. Cityscape Funding Corporation II Delaware 3. Cityscape Funding Corporation III Delaware 4. Cityscape Funding Corporation IV Delaware 5. Cityscape Funding Corporation V Delaware 6. City Mortgage Corporation Limited United Kingdom a. City Mortgage Servicing Limited United Kingdom b. City Mortgage Financial Services Limited United Kingdom c. J&J Securities Limited United Kingdom d. City Mortgage Collateral Reserve No. 1 Limited United Kingdom e. Greyfriars Group Limited United Kingdom I. Greyfriars Financial Services Limited United Kingdom i. Assured Funding Corporation Limited United Kingdom ii. Cityscape (UK) Limited United Kingdom iii. Midland & General Direct Limited United Kingdom iv. Home and Family Finance Limited United Kingdom v. Home Mortgage Corporation Limited United Kingdom vi. Homestead Finance Limited United Kingdom vii. Homeowners Capital Plan Limited United Kingdom viii. Mortgage Management Limited United Kingdom ix. Secured Funding Limited United Kingdom