Paragon Mortgages (No.2) PLC - February 2000

Issuer	Paragon Mortgages (No.2) PLC, St Catherine's Court, Herbert Road, Solihull, West Midlands, B91 3QE
Closing Date	February 2000
Originator	Paragon Mortgages Limited, St Catherine's Court, Herbert Road, Solihull, West Midlands, B91 3QE
Notes Issued	Class A	Class B
	£166,500,000	£18,500,000
Margins	30bp	87.5bp
Step Up Dates	15 March 2006	15 March 2006
Step Up Margins	60bp	175bp
Optional Redemption Dates	15 March 2003	15 March 2003
Principal Determination Dates	Last Business Day of August, November, February and May
Interest Payment Dates	15 September, 15 December, 15 March and 15 June
Lead Manager	ING Barings Limited, 60 london Wall, London, EC2M 5TQ
Administrator	Paragon Finance PLC, St. Catherine's Court, Herbert Road, Solihull, West Midlands, B91 3QE
Trustee	Citicorp Trustee Company Limited, Citigroup Centre, 14^th Floor, Canada Square, Canary Wharf, London, E14 5LB
Rating Agencies	Moody’s Investor Services Limited, 2 Minster Court, Mincing Lane, London, EC3R 7XB Standards & Poor's, 20 Canada Square, Canary Wharf, London, E14 5LH
Principal Paying / Reference Agent/Exchange Rate Agent	Citibank N.A., 5 Carmelite Street, London, EC4Y 0PA
Legal Advisors to the Issuer/Administrator	Slaughter and May, 35 Basinghall Street, london, EC2V 5DB
Legal Advisors to the Lead Managers and Trustee	Simmons & Simmons, CityPoint, One Ropemaker Street, London, EC2Y 9SS Elvinger, Hoss & Prussen, 2, Place Winston Churchill, B. P. 425, L-2014, Luxembourg
Auditors to the Issuer	Deloitte & Touche, Colmore Gate, 2 Colmore Row, Birmingham, B3 2BN
Underlying Assets	First Charged Residential Mortgages
Subordinated Loan Provider	Paragon Finance PLC, St. Catherine's Court, Herbert, Solihull, West Midlands, B91 3QE
Stand By Servicer	RFC Mortgage Services Limited, Eastern Gate, Brants Bridge, Bracknell, Berkshire, RG12 9BZ
SWAP Counterparty	Morgan Guaranty Trust Company of New York, 60 Victoria Embankment, London, EC4Y 0JP