EXHIBIT 8.3

                                                                      [Mourant]


                                                                             
                                                                                MOURANT DU FEU & JEUNE

Arran Funding Limited
22 Grenville Street
St. Helier
Jersey JE4 8PX






July 21, 2006


Dear Sirs

ARRAN FUNDING LIMITED

   1.   We have acted as Jersey tax counsel for Arran Funding Limited, a public
        limited company  incorporated  in Jersey (the "ISSUER"),  in connection
        with the preparation of the  post-effective  amendment  number 3 to the
        Registration  Statement  on Form  S-3 (the  "REGISTRATION  STATEMENT"),
        which has been filed with the Securities and Exchange  Commission under
        the  Securities   Act  of  1933,  as  amended  (the  "Act"),   for  the
        registration  under the Act of notes  issued  pursuant to the  Issuer's
        medium term note programme (together,  the "NOTES")  representing asset
        backed  obligations of the Issuer.  The Notes are to be issued pursuant
        to a trust deed, governed by English law (the "TRUST DEED") between the
        Issuer and the Bank of New York acting  through its London  branch,  as
        trustee,  substantially  in  the  form  filed  as  exhibit  4.3  to the
        Registration Statement.

   2.   We confirm that,  under current Jersey law, the statements set forth in
        the  Registration  Statement  under the headings  "Tax  Considerations:
        Jersey Tax  Status"  and  "Material  Jersey Tax  Consequences",  to the
        extent that they  constitute  matters of Jersey law, are correct in all
        material  respects,  subject  to the  qualifications  and  reservations
        contained therein.  We further confirm and adopt the opinions set forth
        in the  Registration  Statement  under  those  headings,  in each  case
        subject to the qualifications and reservations  contained therein.  The
        statements   concerning  Jersey  tax  consequences   contained  in  the
        Registration  Statement do not purport to discuss all  possible  Jersey
        tax  ramifications  of the  proposed  issuance  and are  limited to the
        matters expressly referred to in those statements.

   3.   We hereby  consent to the  filing of this  opinion as an exhibit to the
        Registration  Statement. We also consent to the reference to Mourant du
        Feu & Jeune under the captions "Legal  matters",  "Tax  Considerations:
        Jersey Tax Status", "Material Jersey Tax Consequences" and "Enforcement
        of  Foreign   Judgements  in  Jersey  or  England  and  Wales"  in  the
        Registration Statement. In giving such consent, we do not admit that we
        are  "experts",  within the  meaning of the term used in the Act of the
        rules and regulations of the Secunties and Exchange






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Arran Funding Limited
July 21, 2006



        Commission issued thereunder, with respect to any part of the
        Registration Statement, including this opinion as an exhibit or
        otherwise.

   4.   This  opinion  shall be governed by and  construed in  accordance  with
        Jersey law. Yours faithfully


/s/MOURANT DU FEU & JEUNE