Paragon Mortgages (No.15) - July 2007

Issuer	Paragon Mortgages (No.15) PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Closing Date	19 July 2007
Originators	Paragon Mortgages Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ Mortgage Trust Limited, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Notes Issued	Class A1	Class A2a	Class A2b	Class A2c	Class B1a	Class B1b	Class C1b
Original Rating (S&P/Moody’s/Fitch)	A-1+/P-1/F1+	AAA/Aaa/AAA	AAA/Aaa/AAA	AAA/Aaa/AAA	AA/Aa2/AA	AA/Aa2/AA	A/A2/A
Current Rating (S&P/Moody’s/Fitch)	AAA/Aaa/AAA	AAA/Aaa/AAA	AAA/Aaa/AAA	AAA/Aaa/AAA	AA+/Aa1/AAA	AA+/Aa1/AAA	A+/A2/BBB+
Original Notes	$1,000,000,000	£209,500,000	€110,000,000	$150,000,000	£17,000,000	€85,500,000	€110,500,000
GBP Equivalent	£492,950,804	£209,500,000	£74,677,529	£73,942,621	£17,000,000	£58,044,807	£75,016,972
Currency Exchange Rates	£1 : $2.0286	N/A	£1 : €1.4730	£1 : $2.0286	N/A	£1 : €1.4730	£1 : €1.4730
Note Denominations	$100,000	£50,000	€50,000	$100,000	£50,000	€50,000	€50,000
Initial Margins	0bp	13bp	12bp	11bp	27bp	27bp	55bp
Current Margin	18bp	26bp	24bp	22bp	54bp	54bp	110bp
Step Up Dates	June 2012	June 2012	June 2012	June 2012	June 2012	June 2012	June 2012
Step Up Margins	18bp	26bp	24bp	22bp	54bp	54bp	110bp
Optional Redemption Dates	June 2011	June 2011	June 2011	June 2011	June 2011	June 2011	June 2011
Principal Determination Dates	Last business day of November, February, May and August
Quarterly Interest Payment Dates	15 December, 15 March, 15 June and 15 September
A1 Monthly Interest Payment Date	15^thof each month, commencing 15 August 2007
Class A1 Mandatory Transfer Date	The Interest Payment Date falling in June 2008 and annually thereafter
Joint Lead Managers	ABN AMRO Bank, N.V, London Branch, 250 Bishopsgate, London, EC2Y 4AA Barclays Bank PLC, 5 The North Colonnade, London, E14 4BB JP Morgan Securities Ltd, 125 London Wall, London, EC2Y 5AJ
Administrators	Paragon Finance PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ Mortgage Trust Services plc, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Trustee	Citicorp Trustee Company Limited, Citigroup Centre, 6^thFloor, Canada Square, Canary Wharf, London, E14 5LB
Rating Agencies	Moody’s Investors Service Limited, One Canada Square, Canary Wharf, London, E14 5FA Standard & Poor’s, 20 Canada Square, Canary Wharf, London, E14 5LH Fitch Ratings Limited, 30 North Colonnade, London, E14 5GN
Principal Paying / Reference Agent/	Citibank, N.A. Citigroup Centre, 21^stFloor, Canada Square, Canary Wharf, London, E14 5LB
U.S.Paying Agent	Citibank, N.A. 388 Greenwich Street, 14^thFloor, New York, N.Y. 10043, U.S.A.
Tender Agent	Citibank, N.A. Citigroup Centre, 21^stFloor, Canada Square, Canary Wharf, London, E14 5LB
Class A1 Remarketing Agent	J.P. Morgan Securities Ltd, 125 London Wall, London, EC2Y 5AJ
Class A1 Conditional Note Purchaser	JPMorgan Chase Bank, N.A., London Branch, London, EC2Y 5AJ
Legal Advisors to the Issuer/Administrators	Clifford Chance LLP, 10 Upper Bank Street, Canary Wharf, London, E14 5JJ
Legal Advisors to the Lead Manager and Trustee	Simmons & Simmons, CityPoint, One Ropemaker Street, London, EC2Y 9SS
Auditors to the Issuer	KPMG, One Snowhill, Snowhill Queensway, Birmingham, B4 6GH
Underlying Assets	Investment Home Loans
Subordinated Loan Providers	Paragon Finance PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ Mortgage Trust Services PLC, 51 Homer Road, Solihull, West Midlands, B91 3QJ
Substitute Administrator	Homeloan Management Limited, The Pavilions, Bridgwater Road, Bristol, BS13 8AE
Substitute Administrator Facilitator	Structured Finance Management Limited, 35 Great St. Helen’s, London, EC3A 6AP
Basis Hedge Providers:	JP Morgan Chase Bank, 12^thFloor, 125 London Wall, London, EC2Y 5AJ NatWest Markets, N.V. (London Branch), 250 Bishopsgate, London, EC2M 4AA
Currency SWAP Provider	Barclays Bank PLC, 5 The North Colonnade, Canary Wharf, London, E14 4BB