Common use of Swap Collateral Ledger Clause in Contracts

Swap Collateral Ledger. In connection with Swap Collateral the Current Issuer Cash Manager shall ensure that the appropriate debits and credits are made to the Swap Collateral Ledger in accordance with Clause 5.6 (Swap Collateral). SCHEDULE 3 Form of Issuer Quarterly Report Granite Mortgages 03-1 plc Profit & Loss Account Period Ended This Quarter Prior Quarter (GBP) 000's (GBP) 000's Interest Receivable - Intercompany Loan Interest Receivable - Cash Deposits/Authorised Investments ---------------------------------- 0 0 Interest Payable - Notes Interest Payable ---------------------------------- 0 0 Net Operating Income ---------------------------------- 0 0 Other Income Operating Expenses Profit/loss on ordinary activities before tax ---------------------------------- 0 0 Taxation Profit/loss on ordinary activities after tax ---------------------------------- 0 0 Dividend 0 0 Retained profit brought forward 0 0 ---------------------------------- Retained profit for the year 0 0 ================================== Granite Mortgages 03-1 plc Balance Sheet Period Ended

Swap Collateral Ledger. In connection with Swap Collateral the Current Issuer Cash Manager shall ensure that the appropriate debits and credits are made to the Swap Collateral Ledger in accordance with Clause 5.6 4.8 (Swap Collateral). SCHEDULE 3 Form of Issuer Quarterly Report Granite Mortgages 03-1 Master Issuer plc Profit & Loss Account Period Ended This Prior Quarter Prior Quarter (GBP) 000's (GBP) 000's Interest Receivable - Intercompany Loan Interest Receivable - Cash Deposits/Authorised Investments ---------------------------------- ------------------------- 0 0 Interest Payable - Notes Interest Payable ---------------------------------- ------------------------- 0 0 ------------------------- Net Operating Income ---------------------------------- 0 0 Other Income Operating Expenses ------------------------- Profit/loss on ordinary activities before tax ---------------------------------- 0 0 Taxation ------------------------- Profit/loss on ordinary activities after tax ---------------------------------- 0 0 Dividend 0 0 Retained profit brought forward 0 0 ---------------------------------- ------------------------- Retained profit for the year 0 0 ================================== Granite Mortgages 03-1 Master Issuer plc Balance Sheet Period Ended

Swap Collateral Ledger. In connection with Swap Collateral the Current Issuer Cash Manager shall ensure that the appropriate debits and credits are made to the Swap Collateral Ledger in accordance with Clause 5.6 (Swap Collateral). SCHEDULE 3 Form of Issuer Quarterly Report Granite Mortgages 0304-1 plc Profit & Loss Account Period Ended This Quarter Prior Quarter (GBP) 000GBP)000's (GBP) 000's Interest Receivable - Intercompany Loan Interest Receivable - Cash Deposits/Deposits/ Authorised Investments ---------------------------------- ---------------------------- 0 0 Interest Payable - Notes Interest Payable ---------------------------------- ---------------------------- 0 0 ---------------------------- Net Operating Income ---------------------------------- 0 0 Other Income Operating Expenses ---------------------------- Profit/loss on ordinary activities before tax ---------------------------------- 0 0 Taxation ---------------------------- Profit/loss on ordinary activities after tax ---------------------------------- 0 0 Dividend 0 0 Retained profit brought forward 0 0 ---------------------------------- ---------------------------- Retained profit for the year 0 0 ================================== Granite Mortgages 0304-1 plc Balance Sheet Period Ended

Swap Collateral Ledger. In connection with Swap Collateral the Current Issuer Cash Manager shall ensure that the appropriate debits and credits are made to the Swap Collateral Ledger in accordance with Clause 5.6 (Swap Collateral). SCHEDULE 3 Form of Issuer Quarterly Report Granite Mortgages 0304-1 plc Profit & Loss Account Period Ended This Quarter Prior Quarter (GBP) 000's (GBP) 000's Interest Receivable - Intercompany Loan Interest Receivable - Cash Deposits/Authorised Investments ---------------------------------- 0 0 Interest Payable - Notes Interest Payable ---------------------------------- 0 0 ---------------------------------- Net Operating Income ---------------------------------- 0 0 Other Income Operating Expenses ---------------------------------- Profit/loss on ordinary activities before tax ---------------------------------- 0 0 Taxation ---------------------------------- Profit/loss on ordinary activities after tax ---------------------------------- 0 0 Dividend 0 0 Retained profit brought forward 0 0 ---------------------------------- ----------------------------------- Retained profit for the year 0 0 =================================== Granite Mortgages 0304-1 plc Balance Sheet Period Ended

Swap Collateral Ledger. In connection with Swap Collateral the Current Issuer Cash Manager shall ensure that the appropriate debits and credits are made to the Swap Collateral Ledger in accordance with Clause 5.6 (Swap Collateral). SCHEDULE 3 Form of Issuer Quarterly Report Granite Mortgages 03-1 3 plc Profit & Loss Account Period Ended This Prior Quarter Prior Quarter (GBP) 000's (GBP) 000's Interest Receivable - Intercompany Loan Interest Receivable - Cash Deposits/Authorised Investments ---------------------------------- ------------ ----------- 0 0 Interest Payable - Notes Interest Payable ---------------------------------- ------------ ----------- 0 0 ------------ ----------- Net Operating Income ---------------------------------- 0 0 Other Income Operating Expenses ------------ ----------- Profit/loss on ordinary activities before tax ---------------------------------- 0 0 Taxation ------------ ----------- Profit/loss on ordinary activities after tax ---------------------------------- 0 0 Dividend 0 0 Retained profit brought forward 0 0 ---------------------------------- ------------ ----------- Retained profit for the year 0 0 ======================== =========== Granite Mortgages 03-1 3 plc Balance Sheet Period Ended

Swap Collateral Ledger. In connection with Swap Collateral the Current Issuer Cash Manager shall ensure that the appropriate debits and credits are made to the Swap Collateral Ledger in accordance with Clause 5.6 (Swap Collateral). SCHEDULE 3 Form of Issuer Quarterly Report Granite Mortgages 03-1 3 plc Profit & Loss Account Period Ended This Prior Quarter Prior Quarter (GBP) 000's (GBP) 000's Interest Receivable - Intercompany Loan Interest Receivable - Cash Deposits/Authorised Investments ---------------------------------- ------------ ----------- 0 0 Interest Payable - Notes Interest Payable ---------------------------------- ------------ ----------- 0 0 ------------ ----------- Net Operating Income ---------------------------------- 0 0 Other Income Operating Expenses ------------ ----------- Profit/loss on ordinary activities before tax ---------------------------------- 0 0 Taxation ------------ ----------- Profit/loss on ordinary activities after tax ---------------------------------- 0 0 Dividend 0 0 Retained profit brought forward 0 0 ---------------------------------- ------------ ----------- Retained profit for the year 0 0 ======================== =========== Granite Mortgages 03-1 3 plc Balance Sheet Period EndedEnded (GBP) 000's (GBP) 000's Fixed Asset Investments Intercompany Lending 0 Current Assets Interest Receivable 0 Other debtors 0 Cash at Bank 0 Current Issuer Transaction Account: ------------ 0 ------------ Creditors: Amounts falling due within one year Accruals 0 Interest Payable Accrual 0 Taxation 0 ------------ 0 ------------ Net current assets 0 Creditors: Amounts falling due after one year Amount due to Noteholders 0 ----------- Total Assets less current liabilities 0 =========== Share Capital 0 Reserves 0 ----------- 0 ===========

Swap Collateral Ledger. In connection with Swap Collateral the Current Issuer Cash Manager shall ensure that the appropriate debits and credits are made to the Swap Collateral Ledger in accordance with Clause 5.6 (Swap Collateral). SCHEDULE 3 Form of Issuer Quarterly Report Granite Mortgages 0304-1 2 plc Profit & Loss Account Period Ended This Quarter Prior Quarter (GBP) 000's (GBP) 000's Interest Receivable - Intercompany Loan Interest Receivable - Cash Deposits/Authorised Investments ---------------------------------- ------------------------------- 0 0 Interest Payable - Notes Interest Payable ---------------------------------- ------------------------------- 0 0 ------------------------------- Net Operating Income ---------------------------------- 0 0 Other Income Operating Expenses ------------------------------- Profit/loss on ordinary activities before tax ---------------------------------- 0 0 Taxation ------------------------------- Profit/loss on ordinary activities after tax ---------------------------------- 0 0 Dividend 0 0 Retained profit brought forward 0 0 ---------------------------------- ------------------------------- Retained profit for the year 0 0 ================================== Granite Mortgages 0304-1 2 plc Balance Sheet Period Ended

Swap Collateral Ledger. In connection with Swap Collateral the Current Issuer Cash Manager shall ensure that the appropriate debits and credits are made to the Swap Collateral Ledger in accordance with Clause 5.6 (Swap Collateral). SCHEDULE 3 Form of Issuer Quarterly Report Granite Mortgages 0304-1 3 plc Profit & Loss Account Period Ended This Prior Quarter Prior Quarter (GBP) 000's (GBP) 000's Interest Receivable - Intercompany Loan Interest Receivable - Cash Deposits/Authorised Investments ---------------------------------- ----------------------- 0 0 Interest Payable - Notes Interest Payable ---------------------------------- ----------------------- 0 0 ----------------------- Net Operating Income ---------------------------------- 0 0 Other Income Operating Expenses ----------------------- Profit/loss on ordinary activities before tax ---------------------------------- 0 0 Taxation ----------------------- Profit/loss on ordinary activities after tax ---------------------------------- 0 0 Dividend 0 0 Retained profit brought forward 0 0 ---------------------------------- ----------------------- Retained profit for the year 0 0 ================================== Granite Mortgages 0304-1 3 plc Balance Sheet Period Ended