-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AE5tTCIKcP1WbxS5eeLS7GnJOdRTcEIP4A4IfqTv6EI8fNaUXZf+R+bPI+dNiORU kL9sxrmSJx9upJczmyogYw== 0000903423-04-000603.txt : 20040526 0000903423-04-000603.hdr.sgml : 20040526 20040526125408 ACCESSION NUMBER: 0000903423-04-000603 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040526 FILED AS OF DATE: 20040526 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HOLMES FINANCING NO 6 PLC CENTRAL INDEX KEY: 0001186321 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-99349-01 FILM NUMBER: 04831750 MAIL ADDRESS: STREET 1: ABBEY NATIONAL HOUSE STREET 2: 2 TRITON SQ REGENTS PL CITY: LONDON STATE: X0 ZIP: 00000 6-K 1 holmes6-6k_0526.htm

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 Mayl 2004

HOLMES FINANCING (No 6) PLC
HOLMES FUNDING LIMITED
HOLMES TRUSTEES LIMITED

(Translation of registrant’s name into English)

Abbey National House, 2 Triton Square, Regent’sPlace,
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 6 plc
Periodic Report re Holmes Trustees Limited and Holmes Funding Limited
For Period 09 March April to 10 May 2004

All values are in thousands of pounds sterling unless otherwise stated

Mortgage Asset Analysis           
 
Analysis of Mortgage Trust Movements           
 

 
    Current Period       
 

 
   
Number 
£000's 
 
 

 
Brought Forward   

415,312

29,369,452

 
Replenishment   

21,173

1,806,915

 
Repurchased   

(7,861)

(637,571)

 
Redemptions   

(11,526)

(804,655)

 
Losses   

(8)

0

 
Capitalised Interest   

0

3,818

 
Other Movements   

0

0

 


 
Carried Forward   
417,090 
29,737,959
 


 
 
 
   
 
 
   
Cumulative 
     
 

 
   
Number 
£000's 
 
 

 
Brought Forward   

115,191

6,399,214

 
Replenishment   

795,985

58,788,163

 
Repurchased   

(224,640)

(15,756,427)

 
Redemptions   

(269,006)

(19,727,183)

 
Losses   

(440)

(777)

 
Capitalised Interest   

0

34,970

 
Other Movements   

0

(1)

 


 
Carried Forward   
417,090 
29,737,959 
 


 
     
Period CPR
Annualised CPR
 


 
1 Month

4.85%

74.65%

 **( including 
3 Month 

13.47%

66.95%

 redemptions and 
12 Month 

54.74%

54.74%

 repurchases ) 

 **  The annualised CPR's are expressed as a percentage of the outstanding balance at the end of the period

 

Page 1 of 8

Holmes Financing No 6 plc
Periodic Report re Holmes Trustees Limited and Holmes Funding Limited
For Period 09 March April to 10 May 2004

All values are in thousands of pounds sterling unless otherwise stated

Asset Profiles       
Weighted Average Seasoning 
32.18
months  
Weighted Average Loan size 
£71,298.66
   
Weighted Average LTV
71.98%
***(see below)   
Weighted Average Indexed LTV 
54.62%
Halifax   
Weighted Average Indexed LTV
53.97%
Nationwide  
Weighted Average Remaining Term
18.56
Years  
       
 

 
Product Type Analysis 
£000's 
 
 

 
Variable Rate 
9,471,540  
31.85%
 
Fixed Rate 
5,572,894  
13.67%
 
Tracker Rate 
14,693,526  
62.94%
 
 


 
 
29,737,959 
100.00%
 
 

 
   
As at 10 May 2004 approximately 7%of the loans were flexible loans  
 

 
Repayment Method Analysis 
£000's 
%
 
 

 
Endowment 
6,955,709 
23.39% 
 
Interest Only 
4,065,179 
13.67% 
 
Repayment
18,717,071 
62.64% 
 
 

 
 
29,737,959 
100.00%
 
 

 
   
As at 10 May 2004 approximately 13.1% of the loans were self-certified
 
       
Loan Purpose Analysis 
£000's 
%
 
 

 
Purchase 
23,362,141
80.2278.56%
 
Remortgage
6,375,818
21.44%
 
 

 
 
29,737,959
100.00%
 
 

 
       
       

 

Mortgage Standard Variable Rate     
Effective Date 
  Rate 
01 March 2004 
  6.00% 
01 December 2003 
  5.75% 
01 August 2003 
  5.54% 
01 March 2003 
  5.79% 

Page 2 of 8

Holmes Financing No 6 plc
Periodic Report re Holmes Trustees Limited and Holmes Funding Limited
For Period 09 March April to 10 May 2004

All values are in thousands of pounds sterling unless otherwise stated

Geographic Analysis         




Region   
Number 
£000's 




East Anglia   

16,932

1,122,493

3.77%

East Midlands   

22,885

1,411,124

4.75%

Greater London   

67,567

6,256,904

21.04%

North   

17,976

939,761

3.16%

North West   

47,593

2,688,028

9.04%

Scotland   

27,643

1,520,251

5.11%

South East   

107,605

9,170,046

30.84%

South West   

33,087

2,334,056

7.85%

Wales   

20,474

1,097,582

3.69%

West Midlands   

28,457

1,739,437

5.85%

Yorkshire and Humberside   

26,190

1,417,631

4.77%

Unknown   

681

40,646

0.14%





Total   
417,090 
29,737,959 
100.00% 




 
 
Original LTV Bands         



Range   
Number 
£000's 



0.00 - 25.00   

12,932

554,902

1.87%

25.01 - 50.00   

67,424

4,052,729

13.63%

50.01 - 75.00   

143,626

11,232,238

37.77%

75.01 - 80.00   

22,777

1,802,766

6.06%

80.01 - 85.00   

28,237

2,311,400

7.77%

85.01 - 90.00   

53,464

4,360,446

14.66%

90.01 - 95.00   

88,630

5,423,478

18.24%




Total   
417,090 
29,737,959 
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.
Page 3 of 8

Holmes Financing No 6 plc
Periodic Report re Holmes Trustees Limited and Holmes Funding Limited
For Period 09 March April to 10 May 2004

All values are in thousands of pounds sterling unless otherwise stated

Arrears                 
   
 
 
 
Band   
Number 
Principal 
Overdue 
   
 
 
 
Current   

406,067

29,006,378

(3,882)

97.56%

1.00 - 1.99 months   

7,168

486,106

3,724

1.63%

2.00 - 2.99 months   

1,886

119,561

1,814

0.40%

3.00 - 3.99 months   

783

47,561

1,046

0.16%

4.00 - 4.99 months   

425

26,332

745

0.09%

5.00 - 5.99 months   

254

16,491

566

0.06%

6.00 -11.99 months   

379

23,159

1,134

0.08%

12 months and over   

46

2,544

305

0.01%

Properties in Possession   

82

4,031

344

0.01%

   



Total   
417,090 
29,732,163 
5,796 
100.00% 

 
 
 

Definition of Arrears

This arrears multiplier is calculated as the arrears amount ( which is
the difference between the expectedmonthly repayments and the 
amount that has actually been paid,i.e. a total of under and/or 
over payments ) divided by themonthly amount repayable. It is 
recalculated every time the arrearsamount changes, i.e. on the 
date when a payment is due. 

   
 
       
Movement in Shares of Trust   
Funding
Seller


   
£000's 
£000's
   
 
 
   
Balance Brought Forward 

16,489,985

12,879,467

   
Replenishment of Assets 

0

1,806,915

   
Acquisition by Funding 

0

0

   
Distribution of Principal Receipts 

(406,070)

(1,036,156)

   
Allocation of Losses 

0

0

   
Share of Capitalised Interest 

2,145

1,673

   
Payment Re Capitalised Interest 

(2,145)

2,145

   


   
Balance Carried Forward 
16,083,915
13,654,044
   


   
Carried Forward Percentage
56.08547%
45.91453% 
   


   
Minimum Seller Share 
1,258,870
4.23% 
   


   

 

Page 4 of 8

Holmes Financing No 6 plc
Periodic Report re Holmes Trustees Limited and Holmes Funding Limited
For Period 09 March April to 10 May 2004

All values are in thousands of pounds sterling unless otherwise stated

 
 
Cash Accumulation Ledger     
 
£000's 
 
 
 
Brought Forward 
858,525 
 
 
 
Additional Amounts Accumulated
406,070 
 
Payment of Notes 
(608,160)
 
 
 
Carried Forward 
656,435 
 
 
 
     
Target Balance 
406,070
250,365
payable on 15th July 2004
payable on 15th April 2005   
 
 
 
656,435 
 
 
 
     
Liquidity Facilities 
Drawn £000's 
Undrawn £000's 


Holmes Funding 
£0 
£25,000 


Holmes Financing 1 
£0 
£25,000 


Holmes Financing 2 
£0 
£25,000 


Holmes Financing 3 
£0 
£25,000 


Holmes Financing 4 
£0 
£25,000 


Holmes Financing 5 
£0 
£25,000 


Holmes Financing 6 
£0 
£25,000 


     
Excess Spread * 

Quarter to 15/041/04 
0.3687% 

Quarter to 15/01/03 (Restated)** 
0.4096% 

Quarter to 15/10/03 (Restated)** 
0.3433% 

Quarter to 15/07/03 (Restated)** 
0.3852% 


*Excess spread is calculated by reference to deferred consideration (determined according to relevant accounting policies) for the period, adjusted for non-cash related items and items relating to amounts falling due after transfers to the first and second reserve funds in the Funding Revenue Priority of Payments, expressed as a percentage of the average note balance over that period.

**The figures for excess spread in prior periods have been restated to incorporate the cumulative effects of accounting adjustments. This restatement does not affect the past or current cash value of amounts standing to the credit of either the first or the second reserve funds.

Reserve Funds   
First Reserve 
Second Reserve 
  Funding Reserve 


 
Balance as at 15/04/2004   
£338,000,000.00 
£7,977,968.00 
 
£67,722,808.72


 
Required Amount as at 15/04/2004   
£338,000,000.00 
£7,977,968.00 
 
£70,000,000.00 


 
Percentage of Notes   
2.02% 
0.05% 
 
0.40% 


 
 
Properties in Possession             
             

 

Page 5 of 8

Holmes Financing No 6 plc
Periodic Report re Holmes Trustees Limited and Holmes Funding Limited
For Period 09 March April to 10 May 2004

All values are in thousands of pounds sterling unless otherwise stated

Stock

   
Current Period
   
   
Number
£000's
   

Brought Forward   
75 
4,190 


Repossessed in Period   
25 
2,468 


Sold in Period   
(18) 
(2,191) 


Carried Forward   
82 
4,377 


 
   
Cumulative
 

   
Number 
£000's 
 

Repossessed to date   
545 
34,149 
Sold to date   
(463) 
(29.772) 


Carried Forward   
82 
4,377 


 
Repossession Sales Information   

Average time Possession to Sale   
82
Days

Average arrears at time of Sale   
£3,373 

 
MIG Claim Status   


   
Number 
£000's 
 

MIG Claims made   
194 
1,375 


MIG Claims outstanding   


 
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 balanceis in excess of £25 billion     

 

Page 6 of 8

Holmes Financing No 6 plc
Periodic Report re Holmes Trustees Limited and Holmes Funding Limited
For Period 09 March April to 10 May 2004

All values are in thousands of pounds sterling unless otherwise stated

Retired Class A Notes                                 









Date Retired   
Holmes 1
Holmes 2
Holmes 3
Holmes 4
Holmes 5
Holmes 6
Holmes 7
Holmes 8









02Q3 
 
703 
352 
02Q4 
 
352 
03Q1 
 
750 
03Q2 
 
03Q3 
 
600 
481 
03Q4 
 
176 
191 
481 
04Q1 
 
176 
191 
241 
04Q2 
 
176 
191 
241 









 
Outstanding Class A Notes 









Expected Redemption   
Holmes 1 
Holmes 2 
Holmes 3 
Holmes4 
Holmes 5 
Holmes 6 
Holmes 7 
Holmes 8 









04Q2 
 
04Q3 
 
176 
191 
04Q4 
 
698 
05Q1 
 
750 
05Q2 
 
801 
1,001 
05Q3 
 
650 
05Q4 
 
125 
06Q1 
 
125 
803 
06Q2 
 
125 
06Q3 
 
125 
500 
1,340 
06Q4 
 
350 
875 
07Q1 
 
161 
812 
07Q2 
 
634 
161 
07Q3 
 
575 
07Q4 
 
300 
770 
08Q1 
 
08Q2 
 
500 
592 
221 
08Q3 
 
221 
08Q4 
 
221 
09Q1 
 
1,171 
09Q2 
 
09Q3 
 
09Q4 
 
10Q1 
 
10Q2 
 
10Q3 
 
250 
10Q4 
 










Page 7 of 8

Holmes Financing No 6 plc
Periodic Report re Holmes Trustees Limited and Holmes Funding Limited
For Period 09 March April to 10 May 2004

All values are in thousands of pounds sterling unless otherwise stated

 

 

 

Page 8 of 8

 


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 6) PLC  
        Dated: 26 May 2004   By /s/ Karen Carson
(Authorised Signatory)

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