Exhibit 99.1

Permanent Monthly Report

For period from 1 Jan 2007 to 31 Jan 2007

This report is a revised version of the previously issued report. Excess Spread and the current HVR2 rate were reported incorrectly. There are no other amendments.

Mortgages Trust Determination Date		1 Feb 2007
Mortgages Trust Distribution Date		5 Feb 2007
Current Funding 1 Interest Period		11 Dec 2006 to 12 Mar 2007
Current Funding 2 Interest Period		16 Jan 2007 to 16 Apr 2007

Key Parties
Mortgages Trustee		Permanent Mortgages Trustee Limited
Depositors		Permanent Funding (No. 1) Limited (Funding 1), Permanent Funding (No. 2) Limited (Funding 2)
Seller		Halifax plc
Servicer		Halifax plc
Cash Manager		Halifax plc
Issuing Entities		Permanent Financing (No. 1 through 9) PLC, Permanent Master Issuer PLC
Security Trustee		The Bank of New York, London
Note Trustee		The Bank of New York, London

Mortgages Trust Summary

Principal Balance at start of period	£	48,482,722,537.35
Current Principal Balance	£	47,054,203,664.47
Opening Trust Assets	£	100.00
Total	£	47,054,203,764.47

Funding 1 Issuer Notes outstanding (GBP)	£	29,624,411,750.00
less Cash Accumulation Ledger balance	£	2,144,404,000.00
less Funding 1 Principal Ledger balance	£	688,509,000.00
less Principal Deficiency Ledger balance	£	528,726.41
Funding 1 Share	£	26,790,970,023.59
Funding 1 Share %	56.93757		%

Seller Share	£	14,851,839,340.77
Seller Share %	31.56185		%
Minimum Seller Share	£	2,360,493,545.16
Minimum Seller Share %	5.01654		%
Number of loans in pool at start of period	629,187
Current number of loans in pool	613,508

Funding 2 Issuer Notes outstanding (GBP)	£	5,411,550,000.00
less Cash Accumulation Ledger balance	£	—
less Funding 2 Principal Ledger balance	£	97,491.12
less Principal Deficiency Ledger balance	£	58,308.77
Funding 2 Share	£	5,411,394,300.11
Funding 2 Share %	11.50058		%

Distribution(s)

On a monthly basis, Mortgages Trust Revenue Receipts are allocated on a pro-rata basis between Funding 1, Funding 2 and the Seller based upon their respective shares in the Trust. Mortgages Trust Principal Receipts are allocated first on a pro-rata basis between Funding 1 and Funding 2 based upon their respective shares in the Trust, up to their respective cash accumulation requirements and then to the Seller. On a quarterly basis, Funding 1 will distribute its receipts to the issuers Permanent Financing (No. 1) PLC to Permanent Financing (No. 9) PLC inclusive, Funding 2 will distribute its receipts to Permanent Master Issuer PLC (Master Issuer) and in turn the issuers will distribute their respective receipts to the noteholders, via the paying agents and swap providers.

Mortgages Trust Distribution 5 Feb 2007
Mortgages Trust Revenue Receipts	£	216,495,324.88
Mortgages Trust Principal Receipts	£	1,434,345,127.34
Total received by Mortgages Trustee	£	1,650,840,452.22

	Revenue
	distribution
Amounts due to the Servicer	£	2,058,855.34
Other amounts due	£	—
Paid to Permanent Funding (No. 1) Limited	£	119,548,238.71
Paid to Permanent Funding (No. 2) Limited	£	24,147,051.42
Paid to the Seller	£	70,741,179.41
	£	216,495,324.88
	Principal
	distribution
Paid to Permanent Funding (No. 1) Limited	£	—
Paid to Permanent Funding (No. 2) Limited	£	—
Paid to the Seller	£	1,434,345,127.34

	£	1,434,345,127.34

Master Issuer Distribution 16 Jan 2007
Master Issuer Revenue Receipts	£	70,684,847.86
Master Issuer Principal Receipts	£	—
Total received by Master Issuer	£	70,684,847.86
	Revenue
	distribution
Amounts due to Security Trustee	£	—
Amounts due to Note Trustee	£	—
Amounts due to Agent Bank, Paying Agent	£	—
Amounts due to Third Party Creditors	£	238.53
Amounts due to Cash Manager	£	337,295.24
Amounts due to Corporate Svcs Provider	£	3,567.26
Amounts due Swap Provider re Class A notes	£	51,162,227.34
Interest due on Class A notes	£	14,362,704.52
Amounts due Swap Provider re Class B notes	£	2,338,512.86
Interest due on Class B notes	£	—
Amounts due Swap Provider re Class C notes	£	2,473,090.40
Interest due on Class C notes	£	—
Retained by the Master Issuer	£	7,211.71
	£	70,684,847.86
	Principal
	distribution
Amounts due Swap Provider re Class A notes	£	—
Principal due on Class A notes	£	—
Amounts due Swap Provider re Class B notes	£	—
Principal due on Class B notes	£	—
Amounts due Swap Provider re Class C notes	£	—
Principal due on Class C notes	£	—

	£	—

Mortgages Trust Pool Assets Analysis

A very small number of loans were repurchased from the Trust by the Seller during the period, for being in breach of the representations and warranties under the Mortgage Sale Agreement.

Current HVR1 rate	7.25	%
Current HVR2 rate	6.55	%
Current Flexible Variable rate	6.40	%

Yield net of Funding Swaps over 3 Month Sterling LIBOR 0.59925%

Arrears & Possessions

Months in arrears	Aggregate outstanding balance		% of Total		Aggregate amount of Arrears		Number of accounts	% of Total

Current - < 1 month	£	45,950,457,931.28	97.65	%	£	2,263,729.79	601,798	98.09	%
1 - < 2 months	£	513,126,591.06	1.09	%	£	3,958,943.17	5,597	0.91	%
2 - < 3 months	£	157,988,163.47	0.34	%	£	2,428,459.10	1,692	0.28	%
3 - < 6 months	£	229,714,700.16	0.49	%	£	6,096,275.65	2,384	0.39	%
6 - < 12 months	£	144,150,644.14	0.31	%	£	7,511,160.30	1,494	0.24	%
>= 12 months	£	58,765,634.36	0.12	%	£	5,443,116.02	543	0.09	%
Total	£	47,054,203,664.47	100.00	%	£	27,701,684.03	613,508	100.00	%

Properties in possession	Aggregate outstanding balance		% of Total		Number of accounts	% of Total

Brought forward	£	16,888,820.52	0.03	%	156	0.02	%
Repossessed					54	0.01	%
Sold					36	0.01	%
Relinquished					—	0.00	%
Carried forward	£	20,433,920.36	0.04	%	174	0.03	%

Average time from possession to sale in days (this period) 93

A loan is identified as being in arrears where an amount equal to or greater than a full month’s contractual payment is outstanding at the end of the month. A loan is not defined as defaulted until the property relating to that loan has been taken into possession. A loan is not charged off as uncollectable until the property relating to that loan has been disposed of following default.

Substituted assets

Period	Balance of accounts		Number of accounts
This period	£	—	—

CPR

Month	Monthly CPR		1-month annualised		3-month annualised		12-month annualised
January 2007	2.96	%	30.26	%	35.31	%	33.23	%
December 2006	3.14	%	31.83	%	36.79	%	33.22	%
November 2006	4.69	%	43.83	%	36.88	%	33.56	%

1-month annualised CPR is calculated as 1 - ( (1-R) ^ 12 )

3-month annualised CPR is calculated as the average of the 1-month annualised CPR for the most recent 3 months.

12-month annualised CPR is calculated as the average of the 1-month annualised CPR for the most recent 12 months. where in each case R is ‘Monthly CPR’ or total principal receipts received plus the principal balance of loans repurchased by the Seller (primarily due to further advances) during the period, divided by the aggregate principal balance of the loans in the portfolio as at the start of the period.

Excess spread

Month	Excess spread
January 2007	0.35040	%
December 2006	0.30043	%
November 2006	0.34001	%

All figures revised as per note at top of report.

Excess spread is calculated by deducting actual and estimated costs, including the weighted average margin on the notes, from the yield above.

Range of outstanding balances at end of period	Aggregate outstanding balance		% of Total		Number of accounts	% of Total

£0 - £24,999.99	£	1,411,786,377.87	3.00	%	101,964	16.62	%
£25,000 - £49,999.99	£	5,523,165,873.23	11.74	%	148,435	24.19	%
£50,000 - £74,999.99	£	7,278,902,715.25	15.47	%	117,529	19.16	%
£75,000 - £99,999.99	£	7,497,552,668.37	15.93	%	86,521	14.10	%
£100,000 - £124,999.99	£	6,471,529,764.61	13.75	%	57,947	9.45	%
£125,000 - £149,999.99	£	5,073,661,078.22	10.78	%	37,183	6.06	%
£150,000 - £174,999.99	£	3,556,057,284.88	7.56	%	22,063	3.60	%
£175,000 - £199,999.99	£	2,489,688,945.39	5.29	%	13,369	2.18	%
£200,000 - £224,999.99	£	1,858,187,443.31	3.95	%	8,797	1.43	%
£225,000 - £249,999.99	£	1,344,067,700.54	2.86	%	5,688	0.93	%
£250,000 - £299,999.99	£	1,703,737,377.81	3.62	%	6,291	1.03	%
£300,000 - £349,999.99	£	1,129,431,106.00	2.40	%	3,519	0.57	%
£350,000 - £399,999.99	£	727,596,543.03	1.55	%	1,959	0.32	%
£400,000 - £449,999.99	£	579,540,953.55	1.23	%	1,376	0.22	%
£450,000 - £500,000	£	400,916,839.06	0.85	%	851	0.14	%
>£500,000	£	8,380,993.35	0.02	%	16	0.00	%
Total	£	47,054,203,664.47	100.00	%	613,508	100.00	%

The weighted average current balance is: £ 128,665.45

Range of LTV ratios at origination*	Aggregate balance at Origination		% of Total		Number of accounts	% of Total

0% - 24.99%	£	2,554,998,739.00	5.01	%	68,711	11.20	%
25% - 49.99%	£	13,198,919,639.28	25.86	%	203,199	33.12	%
50% - 74.99%	£	20,593,582,386.05	40.34	%	203,741	33.21	%
75% - 79.99%	£	3,343,160,423.00	6.55	%	28,451	4.64	%
80% - 84.99%	£	2,543,943,346.00	4.98	%	22,357	3.64	%
85% - 89.99%	£	3,198,243,457.00	6.27	%	27,849	4.54	%
90% - 94.99%	£	3,320,154,628.00	6.50	%	31,733	5.17	%
95% - 96.99%	£	1,599,915,220.00	3.13	%	18,655	3.04	%
97%	£	687,077,675.00	1.35	%	8,792	1.43	%
>97%	£	4,362,630.00	0.01	%	20	0.00	%
Total	£	51,044,358,143.33	100.00	%	613,508	100.00	%

*excluding capitalised interest, capitalised high LTV fees, insurance fees, booking fees and valuation fees.

The weighted average LTV at origination is: 60.75%

Range of LTV ratios at end of reporting period*	Aggregate outstanding balance		% of Total		Number of accounts	% of Total

0% - 24.99%	£	5,179,292,150.84	11.01	%	169,682	27.66	%
25% - 49.99%	£	16,745,743,515.15	35.59	%	235,912	38.45	%
50% - 74.99%	£	18,296,846,377.03	38.88	%	155,554	25.35	%
75% - 79.99%	£	2,715,119,781.39	5.77	%	20,238	3.30	%
80% - 84.99%	£	2,310,059,172.40	4.91	%	17,265	2.81	%
85% - 89.99%	£	1,364,712,679.50	2.90	%	11,030	1.80	%
90% - 94.99%	£	366,518,341.81	0.78	%	3,159	0.51	%
95% - 96.99%	£	53,105,893.90	0.11	%	471	0.08	%
97% - 99.99%	£	21,710,306.54	0.05	%	188	0.03	%
>=100%	£	1,095,445.91	0.00	%	9	0.00	%
Total	£	47,054,203,664.47	100.00	%	613,508	100.00	%

*including capitalised interest, capitalised high LTV fees, insurance fees, booking fees and valuation fees and using indexed valuation.

The weighted average current LTV is: 52.31%

Region	Aggregate outstanding balance		% of Total		Number of accounts	% of Total
London & South East	£	13,997,048,947.56	29.75	%	122,790	20.01	%
Midlands & East Anglia	£	10,365,833,590.15	22.03	%	134,233	21.88	%
North	£	6,398,368,087.78	13.60	%	111,482	18.17	%
North West	£	5,589,924,378.81	11.88	%	90,655	14.78	%
South Wales & West	£	6,799,317,984.89	14.45	%	86,951	14.17	%
Scotland	£	3,851,645,617.02	8.19	%	66,963	10.91	%
Unknown	£	52,065,058.26	0.11	%	434	0.07	%
Total	£	47,054,203,664.47	100.00	%	613,508	100.00	%

Age of loans in months	Aggregate outstanding balance		% of Total		Number of accounts	% of Total

< 6	£	643,623,560.70	1.37	%	5,241	0.85	%
6 - <12	£	6,595,153,872.34	14.02	%	59,734	9.74	%
12 - <18	£	6,976,188,431.02	14.83	%	62,712	10.22	%
18 - <24	£	4,787,725,867.39	10.17	%	52,691	8.59	%
24 - <30	£	5,756,743,190.34	12.23	%	63,938	10.42	%
30 - <36	£	4,198,549,992.40	8.92	%	50,330	8.20	%
36 - <42	£	3,779,847,570.67	8.03	%	46,404	7.56	%
42 - <48	£	2,840,422,086.68	6.04	%	38,941	6.35	%
48 - <54	£	2,362,093,887.01	5.02	%	35,589	5.80	%
54 - <60	£	1,961,119,150.43	4.17	%	32,611	5.32	%
60 - <66	£	1,328,662,642.07	2.82	%	25,758	4.20	%
66 - <72	£	971,183,421.46	2.06	%	20,159	3.29	%
>=72	£	4,852,889,991.96	10.31	%	119,400	19.46	%
Total	£	47,054,203,664.47	100.00	%	613,508	100.00	%

The weighted average seasoning of the loans, in months, is: 36.21

Years to maturity of loans	Aggregate outstanding balance		% of Total		Number of accounts	% of Total

< 5	£	1,006,278,355.38	2.14	%	37,720	6.15	%
5 - <10	£	4,135,941,381.10	8.79	%	88,746	14.47	%
10 - <15	£	6,587,094,791.12	14.00	%	105,164	17.14	%
15 - <20	£	11,522,816,893.92	24.49	%	150,777	24.58	%
20 - <25	£	20,488,146,131.41	43.54	%	197,648	32.22	%
25 - <30	£	2,845,299,524.60	6.05	%	26,203	4.27	%
30 - <35	£	465,613,818.31	0.99	%	7,221	1.18	%
>=35	£	3,012,768.63	0.01	%	29	0.00	%
Total	£	47,054,203,664.47	100.00	%	613,508	100.00	%

The weighted average remaining term of the loans, in years, is: 18.67

Use of proceeds	Aggregate outstanding balance		% of Total		Number of accounts	% of Total
Purchase	£	29,478,001,984.39	62.65	%	393,676	64.17	%
Remortgage	£	17,576,201,680.08	37.35	%	219,832	35.83	%
Total	£	47,054,203,664.47	100.00	%	613,508	100.00	%

Property type	Aggregate outstanding balance		% of Total		Number of accounts	% of Total
Detached	£	14,036,081,084.44	29.83	%	144,634	23.57	%
Semi-detached	£	13,913,388,208.06	29.57	%	203,231	33.13	%
Terraced	£	13,193,606,148.99	28.04	%	195,239	31.82	%
Other*	£	5,911,128,222.98	12.56	%	70,404	11.48	%
Total	£	47,054,203,664.47	100.00	%	613,508	100.00	%

*Primarily flats or maisonettes

Origination channel	Aggregate outstanding balance		% of Total		Number of accounts	% of Total
Direct origination by Halifax	£	19,832,755,836.18	42.15	%	301,242	49.10	%
Intermediaries	£	27,115,988,168.99	57.63	%	309,903	50.51	%
Other channels	£	105,459,659.30	0.22	%	2,363	0.39	%
Total	£	47,054,203,664.47	100.00	%	613,508	100.00	%

Repayment terms	Aggregate outstanding balance		% of Total		Number of accounts	% of Total
Repayment	£	28,945,602,629.02	61.52	%	423,759	69.07	%
Interest-only	£	18,108,601,035.45	38.48	%	189,749	30.93	%
Total	£	47,054,203,664.47	100.00	%	613,508	100.00	%

Payment method	Aggregate outstanding balance		% of Total		Number of accounts	% of Total
Direct debit	£	35,213,905,601.80	74.84	%	426,952	69.59	%
Halifax payment plan	£	10,016,445,047.79	21.29	%	152,447	24.85	%
Other	£	1,823,853,014.88	3.88	%	34,109	5.56	%
Total	£	47,054,203,664.47	100.00	%	613,508	100.00	%

Special rate and flexible loans

Type of loan	Aggregate outstanding balance		% of Total		Number of holdings*	% of Total
Discounted variable rate loans	£	23,497,584.23	0.06	%	241	0.04	%
Fixed rate loans	£	25,249,984,154.61	60.17	%	295,413	54.26	%
Capped rate loans	£	—	0.00	%	—	0.00	%
Tracker rate loans	£	16,611,342,047.72	39.58	%	247,773	45.51	%
Flexible loans	£	80,674,162.19	0.19	%	972	0.18	%
Total Special rate and flexible	£	41,965,497,948.75	100.00	%	544,399	100.00	%

Distribution of fixed rate loans

Fixed rate %	Aggregate outstanding balance		% of Total		Number of holdings*	% of Total
0 - 3.99%	£	171,028,812.98	0.68	%	8,272	2.80	%
4.00 - 4.99%	£	15,257,015,959.89	60.42	%	139,364	47.18	%
5.00 - 5.99%	£	9,303,336,769.68	36.84	%	135,503	45.87	%
6.00 - 6.99%	£	517,327,613.42	2.05	%	12,227	4.14	%
7.00 - 7.99%	£	1,138,280.65	0.00	%	43	0.01	%
8.00 - 8.99%	£	136,717.99	0.00	%	4	0.00	%
Total	£	25,249,984,154.61	100.00	%	295,413	100.00	%

Year in which current fixed rate period ends	Aggregate outstanding balance		% of Total		Number of holdings*	% of Total
2007	£	8,145,261,438.13	32.26	%	84,454	28.59	%
2008	£	10,356,163,689.83	41.01	%	103,430	35.01	%
2009	£	2,384,741,509.99	9.44	%	32,294	10.93	%
2010	£	1,609,119,134.05	6.37	%	25,955	8.79	%
2011	£	1,802,199,471.35	7.14	%	27,288	9.24	%
2012	£	266,346,784.84	1.05	%	4,442	1.50	%
2013	£	86,166,142.91	0.34	%	1,239	0.42	%
2014	£	329,625,773.96	1.31	%	4,326	1.46	%
2015	£	163,831,641.51	0.65	%	3,777	1.28	%
2016	£	106,528,568.04	0.42	%	8,208	2.78	%
Total	£	25,249,984,154.61	100.00	%	295,413	100.00	%

*An account may have more than one product holding.

Ledgers

Funding 1 Share / Funding 2 Share / Seller Share Ledger

Date	Collateral pool balance		Funding 1 Share		Funding 2 Share		Seller Share		Funding 1 Share %		Funding 2 Share %		Seller Share %
2-Jan-07	£	48,482,722,537.35	£	26,791,258,701.09	£	5,411,452,608.88	£	16,280,011,227.38	55.2613	%	11.1620	%	33.5768	%
29-Dec-06	£	48,475,852,377.15	£	26,791,260,168.54	£	5,411,452,905.29	£	16,273,139,303.32	55.2691	%	11.1636	%	33.5674	%
1-Dec-06	£	43,461,242,137.62	£	27,478,614,308.30	£	5,411,499,890.35	£	10,571,127,938.97	63.2281	%	12.4518	%	24.3201	%

Revenue Ledger

Month	Revenue receipts on the loans		GIC interest		Total
January 2007	£	211,344,480.77	£	5,150,844.11	£	216,495,324.88
December 2006	£	187,885,536.85	£	5,245,545.89	£	193,131,082.74
November 2006	£	189,408,488.27	£	5,723,385.41	£	195,131,873.68

Distribution

Month	Servicer		Other amounts per Priority of Payments		Funding 1		Funding 2		Seller
January 2007	£	2,058,855.34	£	—	£	119,548,238.71	£	24,147,051.42	£	70,741,179.41
December 2006	£	1,866,222.38	£	—	£	120,537,354.05	£	23,791,608.69	£	46,935,897.62
November 2006	£	1,873,741.06	£	150.00	£	118,197,042.53	£	23,131,000.94	£	51,929,939.15

Principal Ledger

Month	Principal receipts on the loans		Principal for Further Advances		Total
January 2007	£	1,089,098,461.17	£	345,246,666.17	£	1,434,345,127.34
December 2006	£	917,891,075.25	£	447,793,041.17	£	1,365,684,116.42
November 2006	£	1,677,545,448.71	£	462,408,951.78	£	2,139,954,400.49

Distribution

Month	Funding 1		Funding 2		Seller
January 2007	£	—	£	—	£	1,434,345,127.34
December 2006	£	687,115,558.30	£	—	£	678,568,558.12
November 2006	£	173,611,250.00	£	—	£	1,966,343,150.49

Losses Ledger

Month	Losses in month		Funding 1 share of losses		Funding 2 share of losses		Seller share of losses		Cumulative losses
January 2007	£	522,386.85	£	288,677.50	£	58,308.77	£	175,400.58	£	3,987,761.46
December 2006	£	379,989.95	£	240,048.91	£	47,281.47	£	92,659.57	£	3,465,374.61
November 2006	£	382,459.25	£	231,967.54	£	45,395.73	£	105,095.98	£	3,085,384.66

Funding 1 Principal Deficiency Ledger (BBB sub-ledger)

Month	Debit		Credit		Balance
January 2007	£	288,677.50	£	—	£	528,726.41
December 2006	£	240,048.91	£	713,875.79	£	240,048.91
November 2006	£	231,967.54	£	—	£	713,875.79

Funding 1 Reserve Ledger

Month	Debit		Credit		Balance		Funding 1 Reserve Required Amount
January 2007	£	—	£	—	£	545,000,000.00	£	545,000,000.00
December 2006	£	—	£	—	£	545,000,000.00	£	545,000,000.00
November 2006	£	—	£	—	£	545,000,000.00	£	545,000,000.00

Funding 1 Liquidity Reserve Ledger

Month	Debit		Credit		Balance drawn		Balance available
January 2007	£	—	£	—	£	—	£	150,000,000.00
December 2006	£	—	£	—	£	—	£	150,000,000.00
November 2006	£	—	£	—	£	—	£	150,000,000.00

Funding 2 Principal Deficiency Ledger (BBB sub-ledger)

Month	Debit		Credit		Balance
January 2007	£	58,308.77	£	97,491.12	£	58,308.77
December 2006	£	47,281.47	£	—	£	97,491.12
November 2006	£	45,395.73	£	—	£	50,209.65

Funding 2 Reserve Ledger

Month	Debit		Credit		Balance		Funding 2 Reserve Required Amount
January 2007	£	—	£	—	£	92,000,000.00	£	92,000,000.00
December 2006	£	—	£	—	£	92,000,000.00	£	92,000,000.00
November 2006	£	—	£	—	£	92,000,000.00	£	92,000,000.00

Trigger events

Non-asset trigger events:

If the Seller suffers an Insolvency Event.

If the role of the Seller as Servicer is terminated and a new Servicer is not appointed within 30 days.

If the current Seller’s Share at any time is equal to or less than the Minimum Seller Share.

If the outstanding principal balance of the loans comprising the trust property is less than £33,000,000,000 to July 2009 or is less than £32,000,000,000 to April 2010.

Asset trigger events:

If there has been a debit to the relevant AAA Principal Deficiency Sub-Ledger.

No trigger events have occurred

Notes outstanding

Issuing entity	Notes	Original rating S&P/Moody’s/Fitch	Expected maturity date	Final maturity date	Outstanding at start of period		Outstanding at end of period		Exchange rate	Reference rate		Margin
Permanent Financing No.1	Series 4 Class A1	AAA / Aaa / AAA	11/Jun/2007	10/Jun/2009	€	750,000,000	€	750,000,000	1.54959	—		5.100	%
Permanent Financing No.1	Series 4 Class A2	AAA / Aaa / AAA	10/Sep/2007	10/Jun/2042	£	1,000,000,000	£	1,000,000,000	—	5.27375	%	0.180	%
Permanent Financing No.1	Series 4 Class B	AA / Aa3 / AA	10/Dec/2007	10/Jun/2042	£	52,000,000	£	52,000,000	—	5.27375	%	0.300	%
Permanent Financing No.1	Series 4 Class C	BBB / Baa2 / BBB	10/Dec/2007	10/Jun/2042	£	52,000,000	£	52,000,000	—	5.27375	%	1.200	%
Permanent Financing No.2	Series 4 Class A	AAA / Aaa / AAA	10/Dec/2007	10/Dec/2009	$	1,750,000,000	$	1,750,000,000	1.58049	5.35313	%	0.220	%
Permanent Financing No.2	Series 4 Class B	AA / Aa3 / AA	10/Dec/2007	10/Jun/2042	€	56,500,000	€	56,500,000	1.46206	3.66200	%	0.450	%
Permanent Financing No.2	Series 4 Class C	BBB / Baa2 / BBB	10/Dec/2007	10/Jun/2042	€	56,500,000	€	56,500,000	1.46206	3.66200	%	1.450	%
Permanent Financing No.2	Series 5 Class A	AAA / Aaa / AAA	10/Dec/2008	10/Jun/2042	£	750,000,000	£	750,000,000	—	5.27375	%	0.250	%
Permanent Financing No.2	Series 5 Class B	AA / Aa3 / AA	10/Dec/2008	10/Jun/2042	£	26,000,000	£	26,000,000	—	5.27375	%	0.450	%
Permanent Financing No.2	Series 5 Class C	BBB / Baa2 / BBB	10/Dec/2008	10/Jun/2042	£	26,000,000	£	26,000,000	—	5.27375	%	1.450	%
Permanent Financing No.3	Series 3 Class A	AAA / Aaa / AAA	10/Jun/2008 & 10/Sep/2008	12/Sep/2033	$	1,500,000,000	$	1,500,000,000	1.66991	5.35313	%	0.180	%
Permanent Financing No.3	Series 3 Class B	AA / Aa3 / AA	10/Sep/2008	10/Jun/2042	$	52,000,000	$	52,000,000	1.66667	5.35313	%	0.350	%
Permanent Financing No.3	Series 3 Class C	BBB / Baa2 / BBB	10/Sep/2008	10/Jun/2042	$	52,000,000	$	52,000,000	1.66667	5.35313	%	1.150	%
Permanent Financing No.3	Series 4 Class A1	AAA / Aaa / AAA	10/Mar/2009 & 10/Jun/2009	12/Sep/2033	€	700,000,000	€	700,000,000	1.45003	3.66200	%	0.190	%

Permanent Financing No.3	Series 4 Class A2	AAA / Aaa / AAA	10/Mar/2009 & 10/Jun/2009	12/Sep/2033	£	750,000,000	£	750,000,000	—	5.27375	%	0.190	%
Permanent Financing No.3	Series 4 Class B	AA / Aa3 / AA	10/Jun/2009	10/Jun/2042	€	62,000,000	€	62,000,000	1.44691	3.66200	%	0.390	%
Permanent Financing No.3	Series 4 Class C	BBB / Baa2 / BBB	10/Jun/2009	10/Jun/2042	€	62,000,000	€	62,000,000	1.44691	3.66200	%	1.180	%
Permanent Financing No.3	Series 5 Class A	AAA / Aaa / AAA	10/Dec/2010	10/Jun/2042	£	400,000,000	£	400,000,000	—	—		5.521	%
Permanent Financing No.3	Series 5 Class B	AA / Aa3 / AA	10/Dec/2010	10/Jun/2042	€	20,000,000	€	20,000,000	1.43885	3.66200	%	0.450	%
Permanent Financing No.3	Series 5 Class C	BBB / Baa2 / BBB	10/Dec/2010	10/Jun/2042	€	20,000,000	€	20,000,000	1.43885	3.66200	%	1.230	%
Permanent Financing No.4	Series 2 Class A	AAA / Aaa / AAA	12/Mar/2007	10/Mar/2009	$	2,400,000,000	$	2,400,000,000	1.86600	5.35313	%	0.070	%
Permanent Financing No.4	Series 2 Class B	AA / Aa3 / AA	12/Mar/2007	10/Jun/2042	$	100,700,000	$	100,700,000	1.86599	5.35313	%	0.180	%
Permanent Financing No.4	Series 2 Class M	A / A2 / A	12/Mar/2007	10/Jun/2042	$	59,900,000	$	59,900,000	1.86599	5.35313	%	0.330	%
Permanent Financing No.4	Series 2 Class C	BBB / Baa2 / BBB	12/Mar/2007	10/Jun/2042	$	82,200,000	$	82,200,000	1.86598	5.35313	%	0.720	%
Permanent Financing No.4	Series 3 Class A	AAA / Aaa / AAA	10/Dec/2008 & 10/Mar/2009	11/Mar/2024	$	1,700,000,000	$	1,700,000,000	1.86600	5.35313	%	0.140	%
Permanent Financing No.4	Series 3 Class B	AA / Aa3 / AA	10/Mar/2009	10/Jun/2042	$	75,800,000	$	75,800,000	1.86598	5.35313	%	0.230	%
Permanent Financing No.4	Series 3 Class M	A / A2 / A	10/Mar/2009	10/Jun/2042	$	40,400,000	$	40,400,000	1.86596	5.35313	%	0.370	%
Permanent Financing No.4	Series 3 Class C	BBB / Baa2 / BBB	10/Mar/2009	10/Jun/2042	$	55,400,000	$	55,400,000	1.86595	5.35313	%	0.800	%
Permanent Financing No.4	Series 4 Class A	AAA / Aaa / AAA	10/Sep/2009 & 10/Dec/2009	10/Mar/2034	€	1,500,000,000	€	1,500,000,000	1.50037	3.66200	%	0.150	%
Permanent Financing No.4	Series 4 Class B	AA / Aa3 / AA	10/Dec/2009	10/Jun/2042	€	85,000,000	€	85,000,000	1.50036	3.66200	%	0.280	%
Permanent Financing No.4	Series 4 Class M	A / A2 / A	10/Dec/2009	10/Jun/2042	€	62,500,000	€	62,500,000	1.50035	3.66200	%	0.450	%
Permanent Financing No.4	Series 5 Class A1	AAA / Aaa / AAA	10/Mar/2011	10/Jun/2042	€	750,000,000	€	750,000,000	1.50083	—		3.9615	%
Permanent Financing No.4	Series 5 Class A2	AAA / Aaa / AAA	10/Mar/2011	10/Jun/2042	£	1,100,000,000	£	1,100,000,000	—	5.27375	%	0.170	%
Permanent Financing No.4	Series 5 Class B	AA / Aa3 / AA	10/Mar/2011	10/Jun/2042	£	43,000,000	£	43,000,000	—	5.27375	%	0.330	%
Permanent Financing No.4	Series 5 Class M	A / A2 / A	10/Mar/2011	10/Jun/2042	£	32,000,000	£	32,000,000	—	5.27375	%	0.500	%
Permanent Financing No.4	Series 5 Class C	BBB / Baa2 / BBB	10/Mar/2011	10/Jun/2042	£	54,000,000	£	54,000,000	—	5.27375	%	0.900	%
Permanent Financing No.5	Series 2 Class A	AAA / Aaa / AAA	12/Mar/2007, 11/Jun/2007 & 10/Sep/2007	10/Jun/2011	$	975,000,000	$	975,000,000	1.87200	5.35313	%	0.110	%
Permanent Financing No.5	Series 2 Class B	AA / Aa3 / AA	10/Sep/2007	10/Jun/2042	$	56,400,000	$	56,400,000	1.87195	5.35313	%	0.180	%
Permanent Financing No.5	Series 2 Class C	BBB / Baa2 / BBB	10/Sep/2007	10/Jun/2042	$	46,200,000	$	46,200,000	1.87196	5.35313	%	0.650	%
Permanent Financing No.5	Series 3 Class A	AAA / Aaa / AAA	10/Mar/2009 & 10/Jun/2009	12/Jun/2034	$	750,000,000	$	750,000,000	1.87200	5.35313	%	0.160	%
Permanent Financing No.5	Series 3 Class B	AA / Aa3 / AA	10/Jun/2009	10/Jun/2042	$	32,500,000	$	32,500,000	1.87190	5.35313	%	0.260	%
Permanent Financing No.5	Series 3 Class C	BBB / Baa2 / BBB	10/Jun/2009	10/Jun/2042	$	27,000,000	$	27,000,000	1.87188	5.35313	%	0.820	%
Permanent Financing No.5	Series 4 Class A	AAA / Aaa / AAA	10/Sep/2009 & 10/Dec/2009	10/Jun/2042	€	1,000,000,000	€	1,000,000,000	1.50150	3.66200	%	0.170	%
Permanent Financing No.5	Series 4 Class B	AA / Aa3 / AA	10/Dec/2009	10/Jun/2042	€	43,500,000	€	43,500,000	1.50000	3.66200	%	0.330	%
Permanent Financing No.5	Series 4 Class C	BBB / Baa2 / BBB	10/Dec/2009	10/Jun/2042	€	36,000,000	€	36,000,000	1.50000	3.66200	%	0.780	%
Permanent Financing No.5	Series 5 Class A1	AAA / Aaa / AAA	10/Jun/2011	10/Jun/2042	£	500,000,000	£	500,000,000	—	—		5.625	%
Permanent Financing No.5	Series 5 Class A2	AAA / Aaa / AAA	10/Jun/2011	10/Jun/2042	£	750,000,000	£	750,000,000	—	5.27375	%	0.190	%
Permanent Financing No.5	Series 5 Class B	AA / Aa3 / AA	10/Jun/2011	10/Jun/2042	£	47,000,000	£	47,000,000	—	5.27375	%	0.350	%
Permanent Financing No.5	Series 5 Class C	BBB / Baa2 / BBB	10/Jun/2011	10/Jun/2042	£	39,000,000	£	39,000,000	—	5.27375	%	0.850	%
Permanent Financing No.6	Series 2 Class A	AAA / Aaa / AAA	10/Sep/2007 & 10/Dec/2007	12/Dec/2011	$	1,000,000,000	$	1,000,000,000	1.84600	5.35313	%	0.090	%
Permanent Financing No.6	Series 2 Class B	AA / Aa3 / AA	10/Dec/2007	10/Jun/2042	$	35,800,000	$	35,800,000	1.84593	5.35313	%	0.140	%
Permanent Financing No.6	Series 2 Class C	BBB / Baa2 / BBB	10/Dec/2007	10/Jun/2042	$	34,700,000	$	34,700,000	1.84594	5.35313	%	0.450	%

Permanent Financing No.6	Series 3 Class A	AAA / Aaa / AAA	10/Dec/2007, 10/Mar/2008, 10/Jun/2008 & 10/Sep/2008	10/Sep/2032	£	1,000,000,000	£	1,000,000,000	—	5.27375	%	0.125	%
Permanent Financing No.6	Series 3 Class B	AA / Aa3 / AA	10/Sep/2008	10/Jun/2042	£	35,300,000	£	35,300,000	—	5.27375	%	0.230	%
Permanent Financing No.6	Series 3 Class C	BBB / Baa2 / BBB	10/Sep/2008	10/Jun/2042	£	34,200,000	£	34,200,000	—	5.27375	%	0.680	%
Permanent Financing No.6	Series 4 Class A	AAA / Aaa / AAA	10/Dec/2009 & 10/Mar/2010	10/Jun/2042	€	750,000,000	€	750,000,000	1.44342	3.66200	%	0.140	%
Permanent Financing No.6	Series 4 Class B	AA / Aa3 / AA	10/Mar/2010	10/Jun/2042	€	26,100,000	€	26,100,000	1.44342	3.66200	%	0.230	%
Permanent Financing No.6	Series 4 Class C	BBB / Baa2 / BBB	10/Mar/2010	10/Jun/2042	€	25,300,000	€	25,300,000	1.44340	3.66200	%	0.680	%
Permanent Financing No.6	Series 5 Class A1	AAA / Aaa / AAA	12/Sep/2011	10/Jun/2042	£	500,000,000	£	500,000,000	—	5.27375	%	0.150	%
Permanent Financing No.6	Series 5 Class A2	AAA / Aaa / AAA	12/Sep/2011	10/Jun/2042	£	500,000,000	£	500,000,000	—	5.27375	%	0.160	%
Permanent Financing No.6	Series 5 Class B	AA / Aa3 / AA	12/Sep/2011	10/Jun/2042	£	34,800,000	£	34,800,000	—	5.27375	%	0.310	%
Permanent Financing No.6	Series 5 Class C	BBB / Baa2 / BBB	12/Sep/2011	10/Jun/2042	£	33,700,000	£	33,700,000	—	5.27375	%	0.800	%
Permanent Financing No.7	Series 2 Class A	AAA / Aaa / AAA	10/Sep/2007	10/Sep/2014	$	1,400,000,000	$	1,400,000,000	1.91200	5.35313	%	0.040	%
Permanent Financing No.7	Series 2 Class B	AA / Aa3 / AA	10/Sep/2007	10/Jun/2042	$	60,700,000	$	60,700,000	1.91199	5.35313	%	0.110	%
Permanent Financing No.7	Series 2 Class C	BBB / Baa2 / BBB	10/Sep/2007	10/Jun/2042	$	59,200,000	$	59,200,000	1.91196	5.35313	%	0.330	%
Permanent Financing No.7	Series 3 Class A	AAA / Aaa / AAA	10/Sep/2009, 10/Dec/2009, 10/Mar/2010 & 10/Jun/2010	10/Sep/2032	€	1,700,000,000	€	1,700,000,000	1.43678	3.66200	%	0.070	%
Permanent Financing No.7	Series 3 Class B	AA / Aa3 / AA	10/Jun/2010	10/Jun/2042	€	73,700,000	€	73,700,000	1.43676	3.66200	%	0.120	%
Permanent Financing No.7	Series 3 Class C	BBB / Baa2 / BBB	10/Jun/2010	10/Jun/2042	€	71,800,000	€	71,800,000	1.43678	3.66200	%	0.430	%
Permanent Financing No.7	Series 4 Class A	AAA / Aaa / AAA	10/Jun/2010 & 10/Sep/2010	10/Sep/2032	£	850,000,000	£	850,000,000	—	5.27375	%	0.080	%
Permanent Financing No.7	Series 4 Class B	AA / Aa3 / AA	10/Sep/2010	10/Jun/2042	£	36,800,000	£	36,800,000	—	5.27375	%	0.130	%
Permanent Financing No.7	Series 4 Class C	BBB / Baa2 / BBB	10/Sep/2010	10/Jun/2042	£	35,900,000	£	35,900,000	—	5.27375	%	0.450	%
Permanent Financing No.7	Series 5 Class A	AAA / Aaa / AAA	10/Jun/2011 & 12/Dec/2011	10/Sep/2032	£	500,000,000	£	500,000,000	—	5.27375	%	0.100	%

Permanent Financing No.8	Series 2 Class A	AAA / Aaa / AAA	10/Jun/2008	10/Jun/2014	$	1,400,000,000	$	1,400,000,000	1.83799	5.35313	%	0.070	%
Permanent Financing No.8	Series 2 Class B	AA / Aa3 / AA	10/Jun/2008	10/Jun/2042	$	69,800,000	$	69,800,000	1.83781	5.35313	%	0.150	%
Permanent Financing No.8	Series 2 Class C	BBB / Baa2 / BBB	10/Jun/2008	10/Jun/2042	$	82,900,000	$	82,900,000	1.83773	5.35313	%	0.400	%
Permanent Financing No.8	Series 3 Class A	AAA / Aaa / AAA	10/Mar/2010 & 10/Jun/2010	10/Sep/2032	$	1,000,000,000	$	1,000,000,000	1.83800	5.35313	%	0.120	%
Permanent Financing No.8	Series 3 Class B	AA / Aa3 / AA	10/Jun/2010	10/Jun/2042	$	52,000,000	$	52,000,000	1.83746	5.35313	%	0.200	%
Permanent Financing No.8	Series 3 Class C	BBB / Baa2 / BBB	10/Jun/2010	10/Jun/2042	$	40,400,000	$	40,400,000	1.83720	5.35313	%	0.520	%
Permanent Financing No.8	Series 4 Class A	AAA / Aaa / AAA	10/Sep/2010 & 10/Dec/2010	10/Sep/2032	€	1,000,000,000	€	1,000,000,000	1.49031	3.66200	%	0.130	%
Permanent Financing No.8	Series 4 Class B	AA / Aa3 / AA	10/Dec/2010	10/Jun/2042	€	47,200,000	€	47,200,000	1.48990	3.66200	%	0.200	%
Permanent Financing No.8	Series 4 Class C	BBB / Baa2 / BBB	10/Dec/2010	10/Jun/2042	€	65,700,000	€	65,700,000	1.49013	3.66200	%	0.520	%
Permanent Financing No.8	Series 5 Class A1	AAA / Aaa / AAA	12/Dec/2011	10/Jun/2042	£	400,000,000	£	400,000,000	—	5.27375	%	0.150	%
Permanent Financing No.8	Series 5 Class A2	AAA / Aaa / AAA	12/Sep/2011 & 12/Dec/2011	10/Sep/2032	£	600,000,000	£	600,000,000	—	5.27375	%	0.150	%
Permanent Financing No.8	Series 5 Class A3	AAA / Aaa / AAA	12/Dec/2011	10/Jun/2042	£	500,000,000	£	500,000,000	—	5.27375	%	0.150	%
Permanent Financing No.9	Series 1 Class A	A-1+ / P-1 / F1+	12/Mar/2007	12/Mar/2007	$	1,500,000,000	$	1,500,000,000	1.74778	5.32000	%	-0.030	%
Permanent Financing No.9	Series 1 Class B	AA / Aa3 / AA	12/Mar/2007	10/Jun/2042	$	63,400,000	$	63,400,000	1.74752	5.35313	%	0.080	%
Permanent Financing No.9	Series 1 Class C	BBB / Baa2 / BBB	12/Mar/2007	10/Jun/2042	$	66,600,000	$	66,600,000	1.74757	5.35313	%	0.300	%
Permanent Financing No.9	Series 2 Class A	AAA / Aaa / AAA	10/Mar/2009	10/Mar/2015	$	1,750,000,000	$	1,750,000,000	1.74780	5.35313	%	0.040	%
Permanent Financing No.9	Series 2 Class B	AA / Aa3 / AA	10/Mar/2009	10/Jun/2042	$	67,800,000	$	67,800,000	1.74742	5.35313	%	0.130	%
Permanent Financing No.9	Series 2 Class C	BBB / Baa2 / BBB	10/Mar/2009	10/Jun/2042	$	72,800,000	$	72,800,000	1.74748	5.35313	%	0.380	%
Permanent Financing No.9	Series 3 Class A	AAA / Aaa / AAA	10/Dec/2010 & 10/Mar/2011	10/Jun/2033	$	1,000,000,000	$	1,000,000,000	1.74779	5.35313	%	0.100	%
Permanent Financing No.9	Series 3 Class B	AA / Aa3 / AA	10/Mar/2011	10/Jun/2042	$	38,000,000	$	38,000,000	1.74713	5.35313	%	0.170	%
Permanent Financing No.9	Series 3 Class C	BBB / Baa2 / BBB	10/Mar/2011	10/Jun/2042	$	41,900,000	$	41,900,000	1.74729	5.35313	%	0.500	%
Permanent Financing No.9	Series 4 Class A	AAA / Aaa / AAA	10/Jun/2011 & 12/Sep/2011	10/Jun/2033	€	1,600,000,000	€	1,600,000,000	1.44970	3.66200	%	0.110	%
Permanent Financing No.9	Series 4 Class B	AA / Aa3 / AA	12/Sep/2011	10/Jun/2042	€	61,200,000	€	61,200,000	1.44955	3.66200	%	0.150	%
Permanent Financing No.9	Series 4 Class C	BBB / Baa2 / BBB	12/Sep/2011	10/Jun/2042	€	64,600,000	€	64,600,000	1.44941	3.66200	%	0.500	%
Permanent Financing No.9	Series 5 Class A	AAA / Aaa / AAA	10/Sep/2012	10/Jun/2042	£	750,000,000	£	750,000,000	—	5.27375	%	0.110	%
Permanent Master Issuer	2006-1 1A	A-1+ / P-1 / F-1+	15/Oct/2007	15/Oct/2007	$	1,000,000,000	$	1,000,000,000	1.86898	5.32000	%	-0.020	%
Permanent Master Issuer	2006-1 1B	AA / Aa3 / AA	15/Oct/2007	15/Jul/2042	$	35,800,000	$	35,800,000	1.86848	5.36000	%	0.080	%
Permanent Master Issuer	2006-1 1C	BBB / Baa2 / BBB	15/Oct/2007	15/Jul/2042	$	35,800,000	$	35,800,000	1.86848	5.36000	%	0.200	%
Permanent Master Issuer	2006-1 2A	AAA / Aaa / AAA	15/Oct/2009	15/Oct/2015	$	1,750,000,000	$	1,750,000,000	1.86900	5.36000	%	0.040	%
Permanent Master Issuer	2006-1 2B	AA / Aa3 / AA	15/Oct/2009	15/Jul/2042	$	134,900,000	$	134,900,000	1.86894	5.36000	%	0.120	%
Permanent Master Issuer	2006-1 2C	BBB / Baa2 / BBB	15/Oct/2009	15/Jul/2042	$	134,900,000	$	134,900,000	1.86894	5.36000	%	0.400	%
Permanent Master Issuer	2006-1 3A	AAA / Aaa / AAA	15/Oct/2009 & 15/Jan/2010	15/Jul/2033	CA$350,000,000		CA$350,000,000		2.10691	4.34429	%	0.055	%
Permanent Master Issuer	2006-1 4A1	AAA / Aaa / AAA	15/Oct/2008	15/Oct/2015	€	500,000,000	€	500,000,000	1.48544	3.74500	%	0.060	%
Permanent Master Issuer	2006-1 4A2	AAA / Aaa / AAA	15/Oct/2009 & 15/Jan/2010	15/Jul/2033	€	1,750,000,000	€	1,750,000,000	1.48544	3.74500	%	0.110	%
Permanent Master Issuer	2006-1 4B	AA / Aa3 / AA	15/Jan/2010	15/Jul/2042	€	129,300,000	€	129,300,000	1.48535	3.74500	%	0.150	%
Permanent Master Issuer	2006-1 4C	BBB / Baa2 / BBB	15/Jan/2010	15/Jul/2042	€	129,300,000	€	129,300,000	1.48535	3.74500	%	0.450	%
Permanent Master Issuer	2006-1 5A	AAA / Aaa / AAA	16/Jul/2012 & 15/Oct/2012	15/Jul/2033	$	1,500,000,000	$	1,500,000,000	1.86900	5.36000	%	0.110	%
Permanent Master Issuer	2006-1 6A1	AAA / Aaa / AAA	15/Apr/2013	15/Apr/2020	£	500,000,000	£	500,000,000	—	5.55313	%	0.120	%
Permanent Master Issuer	2006-1 6A2	AAA / Aaa / AAA	15/Apr/2013	15/Apr/2020	£	600,000,000	£	600,000,000	—	5.55313	%	0.120	%

*Permanent Master Issuer is a Funding 2 Issuing Entity; the others are Funding 1 Issuing Entities.

Contact details and report distribution channels

If you have any queries regarding this report, please contact:

Tracey Hill

LP/3/3/SEC

Trinity Road

Halifax

HX1 2RG

Tel: +44 (0) 113 235 2176

Fax: +44 (0) 113 235 7511

e-mail: traceyhill@halifax.co.uk

Reports can be obtained from :

markunsworth@halifax.co.uk

or:

SEC EDGAR database @:

www.sec.gov/edgar

Bloomberg under ticker: Perma or Permm

Permanent Master Issuer plc 10-D/A