Santander's Motor 2016-1 auto loans issue

Dec 2016: Santander bank has securitised vehicle loan contracts originated by Santander Consumer (UK) mainly relating to cars manufactured by Vauxhall, Volvo, and Ford. The loans require monthly interest (fixed or variable rate) and principal payment in exchange for financing a new or used vehicle. The transaction securitises the receivables from CS loans (secured loans where the originator remains the owner of the vehicle until the loan has been repaid). The preliminary pool backing the transaction comprises 95,077 loans, with a total principal balance of £647.5 million. The issue has a revolving period to add further loans to the pool and has been structured as a true sale. Pre-sale here