FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Issuer

Pursuant to Rule 13a-16 or 15d-16 of

Securities Exchange Act of 1934

For the month of ~~June~~December 2006

HOLMES FINANCING (No 2) PLC

HOLMES FUNDING LIMITED

HOLMES TRUSTEES LIMITED

(Translation of registrant's name into English)

Abbey National House, 2 Triton Square, Regent’s

Place, London NW1 3AN, England

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F . . . .X. . . . Form 40-F . . . . . . . .

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes . . . . . . . No . . .X. . . .

Holmes Financing No 2 plc Periodic Report re Holmes Trustees Limited and Holmes Funding Limited For Period 09 ~~May~~November 2006 to 08 ~~June~~December 2006 All values are in thousands of pounds sterling unless otherwise stated

Mortgage Asset Analysis
Analysis of Mortgage Trust Movements
	Current Period
	Number	£000's
Brought Forward	~~391~~380,~~353~~390	3029,~~014~~979,~~249~~884
Replenishment	1514,~~270~~960	1,~~579~~538,~~922~~685
Repurchased	(5,~~822~~369)	(~~517~~488,~~330~~925)
Redemptions	(1210,~~025~~218)	(1977,~~068,795~~427)
Losses	(3240)	(5869)
Capitalised Interest	0	34,~~834~~940	( * see below )
Other Movements	0	0
Carried Forward	~~388~~379,~~744~~723	30,~~011~~057,~~822~~088
* Capitalised interest refers to interest due met from amounts standing to
the credit of overpayment facilities on flexible loans
	Cumulative
	Number	£000's
Brought Forward	115,191	6,399,214
Replenishment	1,~~201~~283,~~305~~265	95104,~~705~~092,~~180~~824
Repurchased	(~~382~~413,~~181~~365)	(2831,~~980~~809,~~533~~807)
Redemptions	(~~544~~604,~~556~~134)	(4348,~~262~~801,~~606~~682)
Losses	(1,~~015~~234)	(2,~~296~~955)
Capitalised Interest	0	~~152~~179,~~863~~494	( * see above )
Other Movements	0	0
Carried Forward	~~388~~379,~~744~~723	30,~~011~~057,~~822~~088
	Trust Payment Rate (CPR)	Annualised Trust Payment Rate (CPR)
1 Month	54.2889%	4745.8722%	( including
3 Month	1413.1634%	4543.7159%	redemptions and
12 Month	4744.6878%	4744.6878%	repurchases )

Page 1 of 10

Asset Profiles
Weighted Average Seasoning	3739.7372	months
Weighted Average Loan size	£7779,~~202~~155.0230
Weighted Average LTV	6665.0618%	*** (see below)
Weighted Average Indexed LTV	5456.3596%	using Halifax House Price Index
Weighted Average Indexed LTV	5256.9733%	using Nationwide House Price Index
Weighted Average Remaining Term	17.8059	Years
Product Type Analysis	£000's	%
Variable Rate	10,~~252~~336,~~038~~633	34.1639%
Fixed Rate	7,~~043~~944,~~775~~088	2326.4743%
Tracker Rate	1211,~~716~~776,~~009~~367	4239.3718%
	30,011,822	100.00%
	30,057,088	100.00%
As at 08 June 2006 approximately 13.14% of the loans were flexible loans
As at 08 December 2006 approximately 14.43% of the loans were flexible loans
Repayment Method Analysis	£000's	%
Endowment	4,~~885~~454,~~925~~460	1614.2882%
Interest Only	56,~~990~~597,~~360~~531	1921.9695%
Repayment	19,~~135~~005,~~538~~097	63.7623%
	30,011,822	100.00%
	30,057,088	100.00%
As at 08 June 2006 approximately 16.00% of the loans were written under Abbey's policy of non-income verification
Loan Purpose Analysis	£000's	%
Loan Purpose Analysis	£000's	%
Purchase	20,066,112	66.76%
Purchase	21,005,274	69.99%
Remortgage	9,990,976	33.24%
Remortgage	9,006,548	30.01%
	30,057,088	100.00%
	30,011,822	100.00%
Mortgage Standard Variable Rate
Mortgage Standard Variable Rate
Effective Date	Rate
Effective Date	Rate
01 December 2006	7.09%
01 September 2005	6.50%
01 September 2006	6.75%
01 September 2004	6.75%
01 September 2005	6.50%
01 July 2004	6.50%
01 September 2004	6.75%
01 June 2004	6.25%

Page 2 of 10

Geographic Analysis
Region	Number	£000's	%
East Anglia	1514,~~665~~934	1,~~128~~096,~~399~~888	3.7665%
East Midlands	20,~~902~~261	1,~~412~~406,~~904~~643	4.7168%
Greater London	6766,~~284~~638	6,~~581~~659,~~874~~060	2122.9315%
North	1615,~~367~~736	~~934~~928,~~737~~853	3.1109%
North West	4342,~~654~~571	2,~~705~~713,~~342~~160	9.0103%
Scotland	2524,~~392~~316	1,~~464~~429,~~351~~172	4.8875%
South East	~~101~~99,~~497~~996	9,~~234~~281,~~754~~146	30.7788%
South West	3029,~~351~~501	2,~~335~~325,~~149~~706	7.7874%
Wales	17,~~886~~257	1,~~072~~066,~~062~~347	3.5755%
West Midlands	2524,~~577~~690	1,~~698~~672,~~248~~552	5.6656%
Yorkshire and Humberside	23,~~867~~389	1,~~429~~447,~~780~~980	4.7682%
Unknown	~~302~~434	1429,~~222~~581	0.0510%
Total	~~388~~379,~~744~~723	30,~~011~~057,~~822~~088	100.00%
Original LTV Bands
Range	Number	£000's	%	Average Seasoning
0.00 - 25.00	2224,~~867~~083	~~960~~1,~~791~~012,121	3.2037%	3032.0690
25.01 - 50.00	9598,~~620~~345	56,~~971~~197,~~615~~002	1920.9062%	3135.9607
50.01 - 75.00	~~150~~149,~~376~~983	1213,~~880~~334,~~028~~029	4244.9236%	3335.7983
75.01 - 80.00	1716,~~808~~624	1,~~605~~552,~~365~~122	5.3516%	4042.3767
80.01 - 85.00	2120,~~803~~477	2,~~093~~050,~~478~~888	6.9882%	3941.2835
85.01 - 90.00	3734,~~405~~200	3,~~630~~455,~~095~~220	1211.1050%	3941.2917
90.01 - 95.00	4236,~~865~~011	2,~~870~~455,~~451~~706	98.5617%	5961.0374
Total	~~388~~379,~~744~~723	30,~~011~~057,~~822~~088	100.00%	3739.1203
*** The balance is the current outstanding balance on the account
including accrued interest. The LTV is that at origination and
excludes any capitalised high loan to value fees, valuation fees
or booking fees.

Page 3 of 10

Arrears
Band	Number	Principal	Overdue	%
Current	~~378~~369,~~561~~729	29,~~159~~249,~~349~~317	(32,~~258~~163)	97.2035%
1.00 - 1.99 months	5,~~077~~525	~~441~~434,~~304~~280	3,~~663~~827	1.4745%
2.00 - 2.99 months	21,~~218~~889	~~174~~150,~~879~~374	2,~~744~~463	0.5850%
3.00 - 3.99 months	~~1,078~~952	8277,~~759~~261	1,~~817~~778	0.2826%
4.00 - 4.99 months	~~483~~433	3635,~~813~~703	1,~~051~~043	0.12%
5.00 - 5.99 months	~~326~~303	2725,~~030~~166	~~940~~927	0.0908%
6.00 -11.99 months	~~705~~580	5648,~~350~~970	2,~~817~~543	0.1916%
12 months and over	8169	65,~~528~~931	~~685~~687	0.02%
Properties in Possession	~~215~~243	1417,~~691~~103	1,~~660~~878	0.0506%
Total	~~388~~379,~~744~~723	2930,~~999~~044,~~703~~105	12,~~119~~983	100.00%
Definition of Arrears
This arrears multiplier is calculated as the arrears amount ( which is
the difference between the expected monthly repayments and the
amount that has actually been paid, i.e. a total of under and/or
over payments ) divided by the monthly amount repayable. It is
recalculated every time the arrears amount changes, i.e. on the
date when a payment is due.
Movement in Shares of Trust
	Funding	Seller
	£000's	£000's
Balance Brought Forward	1312,~~343~~540,~~085~~287	1617,~~671~~439,~~164~~597
Replenishment of Assets	0	1,~~579~~538,~~922~~685
Acquisition by Funding	03,460,130	0(3,460,130)
Distribution of Principal Receipts	(1198,~~456,916~~623)	(~~129~~1,~~209~~267,729)
Allocation of Losses	(2638)	(3231)
Share of Capitalised Interest	12,~~705~~311	2,~~129~~629
Payment Re Capitalised Interest	(12,~~705~~311)	12,~~705~~311
Balance Carried Forward	1115,~~886~~801,~~143~~756	1814,~~125~~255,~~679~~332
Carried Forward Percentage	3952.~~60487~~57248%	6047.~~39513~~42752%
Minimum Seller Share	1,~~527~~606,~~736~~532	5.0934%

Page 4 of 10

Cash Accumulation Ledger
	£000's
Brought Forward	12,~~179~~405,~~044~~280
Additional Amounts Accumulated	1198,~~456,942~~623
Payment of Notes	0
Carried Forward	2,~~635~~603,~~986~~903
Target Balance	21,~~126~~017,~~775~~901	payable on ~~17th~~15th ~~July~~December 2006
	508,714	payable on 15th December 2006
	1,047,164	payable on 16th January 2007
	2,635,489
	339,570	payable on 16th July 2007
Excess Spread *
	198,623	payable on 15th October 2007
Quarter to 15/04/06	0.2602%
	2,603,258
Quarter to 15/01/06	0.5407%
Excess Spread *
Quarter to 15/10/05	0.4882%
Quarter to 16/10/06	0.4790%
Quarter to 15/07/05	0.2536%
Quarter to 17/07/06	0.4492%
*Excess spread is calculated by reference to deferred consideration
Quarter to 15/04/06	0.2602%
(determined according to relevant accounting policies) for the period,
Quarter to 15/01/06	0.5407%
adjusted for non-cash related items and items relating to amounts
*Excess spread is calculated by reference to deferred consideration
falling due after transfers to the first and second reserve funds in the
(determined according to relevant accounting policies) for the period,
Funding Revenue Priority of Payments, expressed as a percentage of
adjusted for non-cash related items and items relating to amounts
the average note balance over that period.
falling due after transfers to the first and second reserve funds in the
Reserve Funds	First Reserve	Second Reserve	Funding Reserve
Funding Revenue Priority of Payments, expressed as a percentage of
Balance as at 18/04/2006	£264,000,000.00	£0.00	£0.00
the average note balance over that period.
Required Amount as at 18/04/2006	£264,000,000.00	£0.00	£0.00
Reserve Funds	First Reserve	Second Reserve	Funding Reserve
Percentage of Notes	1.82%	0.00%	0.00%
Balance as at 16/10/2006	£272,000,000.00	£0.00	£0.00
Required Amount as at 16/10/2006	£272,000,000.00	£0.00	£0.00
Percentage of Notes	1.48%	0.00%	0.00%
Percentage of Funding Share	1.72%	0.00%	0.00%
Notes Outstanding
	£000's
AAA Notes Outstanding	17,270,802
AA Notes Outstanding	440,914
A Notes Outstanding	153,497
BBB Notes Outstanding	540,446
Total	18,405,659
Properties in Possession

Page 5 of 10

Properties in Possession
Stock
Stock
	Current Period
	Current Period
	Number	£000's
	Number	£000's
Brought Forward	247	18,396
Brought Forward	220	16,784
Repossessed in Period	38	9,227
Repossessed in Period	25	6,075
Sold in Period	(42)	(8,642)
Sold in Period	(30)	(6,508)
Carried Forward	243	18,981
Carried Forward	215	16,351
	Cumulative
	Cumulative
	Number	£000's
	Number	£000's
Repossessed to date	1,466	185,659
Repossessed to date	1,222	136,803
Sold to date	(1,223)	(166,678)
Sold to date	(1,007)	(120,452)
Carried Forward	243	18,981
Carried Forward	215	16,351
Repossession Sales Information
Repossession Sales Information
Average time Possession to Sale	98	Days
Average time Possession to Sale	97	Days
Average arrears at time of Sale	£5,340
Average arrears at time of Sale	£4,902
MIG Claim Status **
MIG Claim Status **
	Number	£000's
	Number	£000's
MIG Claims made	199	1,396
MIG Claims made	199	1,396
**On the 14th November 2005, Abbey exercised its right to cancel all relevant MIG policies and
**On the 14th October 2005, Abbey exercised its right to cancel all relevant MIG policies and
therefore, none of the mortgage loans in the portfolio are currently covered by a MIG policy.
therefore, none of the mortgage loans in the portfolio are currently covered by a MIG policy.
Note
Trigger Events
On 17th July Holmes Financing 3 exercised its option to redeem all of the remaining notes
There has been no debit to the AAA Principal Deficiency Ledger
outstanding in accordance with Condition 5(D) of the notes
The Seller has not suffered an Insolvency Event
Trigger Events
The Seller is still the Servicer
There has been no debit to the AAA Principal Deficiency Ledger
The Outstanding Principal balance is in excess of £25 billion
The Seller has not suffered an Insolvency Event
The Seller is still the Servicer
The Outstanding Principal balance is in excess of £25 billion
Contact Details
If you have any queries regarding this report please contact the Securitisation Team via
Telephone : +44 (1908) 343232 / 344602 / 343836
Facsimilie : +44 (1908) 343019
Email : Securitisation@Abbey.com

Contact Details If you have any queries regarding this report please contact the Securitisation Team via Telephone : +44 (1908) 343232 / 344602 / 343836 Facsimilie : +44 (1908) 343019 Email : Securitisation@Abbey.com

Page 6 of 10

Notes	Deal	Rating (S&P/Moody's/Fitch)	Outstanding	Reference Rate	Margin
Series 3 Class A1	Holmes Financing No. 1	AAA/Aaa/AAA	£375,000,000	45.~~59625~~12063%	0.26%
Series 3 Class A2	Holmes Financing No. 1	AAA/Aaa/AAA	€ 320,000,000	23.~~50700~~49400%	0.26%
Series 3 Class B	Holmes Financing No. 1	AA/Aa3/AA	£24,000,000	45.~~59625~~12063%	0.45%
Series 3 Class C	Holmes Financing No. 1	BBB/Baa2/BBB	£30,000,000	45.~~59625~~12063%	1.60%
Series 4 Class A	Holmes Financing No. 1	AAA/Aaa/AAA	£250,000,000		6.62%
Series 4 Class B	Holmes Financing No. 1	AA/Aa3/AA	£11,000,000	45.~~59625~~12063%	0.62%
Series 4 Class C	Holmes Financing No. 1	BBB/Baa2/BBB	£14,000,000	45.~~59625~~12063%	1.75%
Series 3 Class A	Holmes Financing No. 2	AAA/Aaa/AAA	£250,000,000	4.59625%	0.24%
Series 4 Class A	Holmes Financing No. 2	AAA/Aaa/AAA	€ 500,000,000	3.49400%	0.27%
Series 3 Class B	Holmes Financing No. 2	AA/Aa3/AA	£19,000,000	4.59625%	0.45%
Series 4 Class B	Holmes Financing No. 2	AA/Aa3/AA	€ 21,000,000	3.49400%	0.50%
Series 3 Class C	Holmes Financing No. 2	BBB/Baa2/BBB	£25,000,000	4.59625%	1.50%
Series 4 Class C	Holmes Financing No. 2	BBB/Baa2/BBB	€ 35,000,000	3.49400%	1.60%
Series 4 Class A	Holmes Financing No. 2	AAA/Aaa/AAA	€ 500,000,000	2.50700%	0.27%
Series 3 Class A	Holmes Financing No. 6	AAA/Aaa/AAA	€ 1,000,000,000	3.49400%	0.24%
Series 4 Class B	Holmes Financing No. 2	AA/Aa3/AA	€ 21,000,000	2.50700%	0.50%
Series 3 Class B	Holmes Financing No. 6	AA/Aa3/AA	€ 34,000,000	3.49400%	0.50%
Series 4 Class C	Holmes Financing No. 2	BBB/Baa2/BBB	€ 35,000,000	2.50700%	1.60%
Series 3 Class C	Holmes Financing No. 6	BBB/Baa2/BBB	€ 57,000,000	3.49400%	1.50%
Series 3 Class A	Holmes Financing No. 3	AAA/Aaa/AAA	€ 805,000,000	2.50700%	0.24%
Series 4 Class A 1	Holmes Financing No. 6	AAA/Aaa/AAA	$1,000,000,000	5.37375%	0.24%
Series 3 Class B	Holmes Financing No. 3	AA/Aa3/AA	€ 24,000,000	2.50700%	0.40%
Series 3 Class C	Holmes Financing No. 3	BBB/Baa2/BBB	€ 50,000,000	2.50700%	1.50%
Series 2 Class A	Holmes Financing No. 4	AAA/Aaa/AAA	€ 800,000,000		5.05%
Series 2 Class B	Holmes Financing No. 4	AA/Aa3/AA	€ 35,800,000	2.50700%	0.40%
Series 2 Class C	Holmes Financing No. 4	BBB/Baa2/BBB	€ 53,800,000	2.50700%	1.45%
Series 3 Class A1	Holmes Financing No. 4	AAA/Aaa/AAA	£550,000,000	4.59625%	0.23%
Series 3 Class A2	Holmes Financing No. 4	AAA/Aaa/AAA	$410,000,000	4.60000%	0.23%
Series 3 Class B	Holmes Financing No. 4	AA/Aa3/AA	$34,500,000	4.60000%	0.44%
Series 3 Class C	Holmes Financing No. 4	BBB/Baa2/BBB	$49,500,000	4.60000%	1.30%
Series 4 Class A	Holmes Financing No. 4	AAA/Aaa/AAA	CHF 850,000,000		3.50%
Series 4 Class B	Holmes Financing No. 4	AA/Aa3/AA	£11,000,000	4.59625%	0.43%
Series 4 Class C	Holmes Financing No. 4	BBB/Baa2/BBB	£19,000,000	4.59625%	1.50%
Series 3 Class A 1	Holmes Financing No. 5	AAA/Aaa/AAA	€ 600,000,000		4.25%
Series 3 Class A 2	Holmes Financing No. 5	AAA/Aaa/AAA	£500,000,000	4.59625%	0.23%
Series 3 Class B	Holmes Financing No. 5	AA/Aa3/AA	€ 53,000,000	2.50700%	0.40%
Series 3 Class C	Holmes Financing No. 5	BBB/Baa2/BBB	€ 76,000,000	2.50700%	1.47%
Series 3 Class A	Holmes Financing No. 6	AAA/Aaa/AAA	€ 1,000,000,000	2.50700%	0.24%
Series 3 Class B	Holmes Financing No. 6	AA/Aa3/AA	€ 34,000,000	2.50700%	0.50%
Series 3 Class C	Holmes Financing No. 6	BBB/Baa2/BBB	€ 57,000,000	2.50700%	1.50%
Series 4 Class A 1	Holmes Financing No. 6	AAA/Aaa/AAA	$1,000,000,000	4.60000%	0.24%
Series 4 Class A 2	Holmes Financing No. 6	AAA/Aaa/AAA	CHF 300,000,000		2.50%
Series 4 Class B	Holmes Financing No. 6	AA/Aa3/AA	$40,000,000	45.~~60000~~37375%	0.52%
Series 4 Class C	Holmes Financing No. 6	BBB/Baa2/BBB	$69,000,000	45.~~60000~~37375%	1.55%
Series 5 Class A	Holmes Financing No. 6	AAA/Aaa/AAA	£500,000,000	45.~~59625~~12063%	0.24%
Series 5 Class B	Holmes Financing No. 6	AA/Aa3/AA	£17,000,000	45.~~59625~~12063%	0.52%
Series 5 Class C	Holmes Financing No. 6	BBB/Baa2/BBB	£29,000,000	45.~~59625~~12063%	1.55%
Series 2 Class B	Holmes Financing No. 7	AA/Aa3/AA	$37,500,000	4.60000%	0.35%
Series 3 Class A	Holmes Financing No. 7	AAA/Aaa/AAA	$500,000,000	5.37375%	0.23%
Series 2 Class M	Holmes Financing No. 7	A/A2/A	$63,750,000	4.60000%	0.80%
Series 3 Class B	Holmes Financing No. 7	AA/Aa3/AA	£15,000,000	5.12063%	0.50%
Series 3 Class A	Holmes Financing No. 7	AAA/Aaa/AAA	$500,000,000	4.60000%	0.23%
Series 3 Class M	Holmes Financing No. 7	A/A2/A	£20,000,000	5.12063%	0.80%
Series 3 Class B	Holmes Financing No. 7	AA/Aa3/AA	£15,000,000	4.59625%	0.50%
Series 4 Class A 1	Holmes Financing No. 7	AAA/Aaa/AAA	€ 500,000,000	3.49400%	0.26%
Series 4 Class A 2	Holmes Financing No. 7	AAA/Aaa/AAA	£250,000,000	5.12063%	0.26%
Series 4 Class B	Holmes Financing No. 7	AA/Aa3/AA	€ 41,000,000	3.49400%	0.53%
Series 4 Class M	Holmes Financing No. 7	A/A2/A	€ 56,000,000	3.49400%	0.80%
Series 2 Class A	Holmes Financing No. 8	AAA/Aaa/AAA	$1,500,000,000	5.37375%	0.08%
Series 2 Class B	Holmes Financing No. 8	AA/Aa3/AA	$51,000,000	5.37375%	0.17%
Series 2 Class C	Holmes Financing No. 8	BBB/Baa2/BBB	$87,000,000	5.37375%	0.72%
Series 3 Class A	Holmes Financing No. 8	AAA/Aaa/AAA	€ 990,000,000	3.49400%	0.15%
Series 3 Class B	Holmes Financing No. 8	AA/Aa3/AA	€ 34,000,000	3.49400%	0.27%
Series 3 Class C	Holmes Financing No. 8	BBB/Baa2/BBB	€ 57,500,000	3.49400%	0.85%
Series 4 Class A 1	Holmes Financing No. 8	AAA/Aaa/AAA	£900,000,000	5.12063%	0.15%
Series 4 Class A 2	Holmes Financing No. 8	AAA/Aaa/AAA	$500,000,000	5.37375%	0.14%
Series 4 Class B	Holmes Financing No. 8	AA/Aa3/AA	£39,900,000	5.12063%	0.30%
Series 4 Class C	Holmes Financing No. 8	BBB/Baa2/BBB	£68,000,000	5.12063%	0.90%
Series 1 Class A	Holmes Financing No. 9	AAA/Aaa/AAA	$1,740,000,000	5.32000%	-0.03%
Series 2 Class A	Holmes Financing No. 9	AAA/Aaa/AAA	$2,175,000,000	5.37375%	0.06%
Series 3 Class A1	Holmes Financing No. 9	AAA/Aaa/AAA	€ 740,000,000	3.49400%	0.10%
Series 3 Class A2	Holmes Financing No. 9	AAA/Aaa/AAA	£400,000,000	5.12063%	0.09%
Series 4 Class A	Holmes Financing No. 9	AAA/Aaa/AAA	£600,000,000	5.12063%	0.09%
Series 1 Class A	Holmes Financing No. 10	AAA/Aaa/AAA	$1,260,000,000	5.32000%	-0.03%
Series 1 Class B	Holmes Financing No. 10	AA/Aa3/AA	$47,000,000	5.37375%	0.08%
Series 1 Class C	Holmes Financing No. 10	BBB/Baa2/BBB	$47,000,000	5.37375%	0.27%
Series 2 Class A	Holmes Financing No. 10	AAA/Aaa/AAA	$1,440,000,000	5.37375%	0.03%
Series 2 Class B	Holmes Financing No. 10	AA/Aa3/AA	$55,000,000	5.37375%	0.09%

Page 7 of 10

Notes	Deal	Rating (S&P/Moody's/Fitch)	Outstanding	Reference Rate	Margin
Series 3 Class M	Holmes Financing No. 7	A/A2/A	£20,000,000	4.59625%	0.80%
Series 2 Class C	Holmes Financing No. 10	BBB/Baa2/BBB	$55,000,000	5.37375%	0.35%
Series 4 Class A 1	Holmes Financing No. 7	AAA/Aaa/AAA	€ 500,000,000	2.50700%	0.26%
Series 3 Class A	Holmes Financing No. 10	AAA/Aaa/AAA	€ 1,000,000,000	3.49400%	0.07%
Series 4 Class A 2	Holmes Financing No. 7	AAA/Aaa/AAA	£250,000,000	4.59625%	0.26%
Series 3 Class B1	Holmes Financing No. 10	AA/Aa3/AA	€ 37,000,000	3.49400%	0.12%
Series 4 Class B	Holmes Financing No. 7	AA/Aa3/AA	€ 41,000,000	2.50700%	0.53%
Series 3 Class B2	Holmes Financing No. 10	AA/Aa3/AA	£27,500,000	5.12063%	0.12%
Series 4 Class M	Holmes Financing No. 7	A/A2/A	€ 56,000,000	2.50700%	0.80%
Series 3 Class M1	Holmes Financing No. 10	A/A2/A	€ 34,000,000	3.49400%	0.20%
Series 2 Class A	Holmes Financing No. 8	AAA/Aaa/AAA	$1,500,000,000	4.60000%	0.08%
Series 3 Class M2	Holmes Financing No. 10	A/A2/A	£20,000,000	5.12063%	0.20%
Series 2 Class B	Holmes Financing No. 8	AA/Aa3/AA	$51,000,000	4.60000%	0.17%
Series 3 Class C1	Holmes Financing No. 10	BBB/Baa2/BBB	€ 52,500,000	3.49400%	0.40%
Series 2 Class C	Holmes Financing No. 8	BBB/Baa2/BBB	$87,000,000	4.60000%	0.72%
Series 3 Class C2	Holmes Financing No. 10	BBB/Baa2/BBB	£22,000,000	5.12063%	0.40%
Series 3 Class A	Holmes Financing No. 8	AAA/Aaa/AAA	€ 990,000,000	2.50700%	0.15%
Series 4 Class A1	Holmes Financing No. 10	AAA/Aaa/AAA	$1,440,000,000	5.37375%	0.08%
Series 3 Class B	Holmes Financing No. 8	AA/Aa3/AA	€ 34,000,000	2.50700%	0.27%
Series 4 Class A2	Holmes Financing No. 10	AAA/Aaa/AAA	£750,000,000	5.12063%	0.09%
Series 3 Class C	Holmes Financing No. 8	BBB/Baa2/BBB	€ 57,500,000	2.50700%	0.85%
Series 1 Class A	Holmes Master Issuer 2006-1	AAA/Aaa/AAA	$1,500,000,000	5.34375%	-0.02%
Series 4 Class A 1	Holmes Financing No. 8	AAA/Aaa/AAA	£900,000,000	4.59625%	0.15%
Series 1 Class B	Holmes Master Issuer 2006-1	AA/Aa3/AA	$45,000,000	5.34375%	0.09%
Series 4 Class A 2	Holmes Financing No. 8	AAA/Aaa/AAA	$500,000,000	4.60000%	0.14%
Series 1 Class C	Holmes Master Issuer 2006-1	BBB/Baa2/BBB	$45,000,000	5.34375%	0.24%
Series 4 Class B	Holmes Financing No. 8	AA/Aa3/AA	£39,900,000	4.59625%	0.30%
Series 2 Class A	Holmes Master Issuer 2006-1	AAA/Aaa/AAA	$1,500,000,000	5.34375%	0.06%
Series 4 Class C	Holmes Financing No. 8	BBB/Baa2/BBB	£68,000,000	4.59625%	0.90%
Series 2 Class B	Holmes Master Issuer 2006-1	AA/Aa3/AA	$35,000,000	5.34375%	0.12%
Series 1 Class A	Holmes Financing No. 9	AAA/Aaa/AAA	$1,740,000,000	4.53599%	-0.03%
Series 2 Class M	Holmes Master Issuer 2006-1	A/A2/A	$30,000,000	5.34375%	0.19%
Series 2 Class A	Holmes Financing No. 9	AAA/Aaa/AAA	$2,175,000,000	4.53599%	0.06%
Series 2 Class C	Holmes Master Issuer 2006-1	BBB/Baa2/BBB	$40,000,000	5.34375%	0.39%
Series 3 Class A1	Holmes ~~Financing~~Master ~~No.~~Issuer 92006-1	AAA/Aaa/AAA	~~€ 740~~$900,000,000	25.~~50100~~34375%	0.1008%
Series 3 Class A2	Holmes ~~Financing~~Master ~~No.~~Issuer 92006-1	AAA/Aaa/AAA	~~£400~~€ 670,000,000	43.~~64000~~53900%	0.0910%
Series 4 Class A	Holmes Financing No. 9	AAA/Aaa/AAA	£600,000,000	4.64000%	0.09%
Series 3 Class A3	Holmes Master Issuer 2006-1	AAA/Aaa/AAA	£700,000,000	5.18082%	0.10%
Series 3 Class B2	Holmes Master Issuer 2006-1	AA/Aa3/AA	€ 37,500,000	3.53900%	0.15%
Series 3 Class B3	Holmes Master Issuer 2006-1	AA/Aa3/AA	£20,000,000	5.18082%	0.15%
Series 3 Class M2	Holmes Master Issuer 2006-1	A/A2/A	€ 35,500,000	3.53900%	0.22%
Series 3 Class M3	Holmes Master Issuer 2006-1	A/A2/A	£12,000,000	5.18082%	0.22%
Series 3 Class C2	Holmes Master Issuer 2006-1	BBB/Baa2/BBB	€ 61,500,000	3.53900%	0.42%
Series 3 Class C3	Holmes Master Issuer 2006-1	BBB/Baa2/BBB	£12,500,000	5.18082%	0.42%
Series 1 Class A	Holmes Master Issuer 2006-1	AAA/Aaa/AAA	$1,500,000,000	5.34375%	-0.02%
Series 1 Class B	Holmes Master Issuer 2006-1	AA/Aa3/AA	$45,000,000	5.34375%	0.09%
Series 1 Class C	Holmes Master Issuer 2006-1	BBB/Baa2/BBB	$45,000,000	5.34375%	0.24%
Series 2 Class A	Holmes Master Issuer 2006-1	AAA/Aaa/AAA	$1,500,000,000	5.34375%	0.06%
Series 2 Class B	Holmes Master Issuer 2006-1	AA/Aa3/AA	$35,000,000	5.34375%	0.12%
Series 2 Class M	Holmes Master Issuer 2006-1	A/A2/A	$30,000,000	5.34375%	0.19%
Series 2 Class C	Holmes Master Issuer 2006-1	BBB/Baa2/BBB	$40,000,000	5.34375%	0.39%

Page 8 of 10

Retired Class A Notes
Date Retired	Holmes 1	Holmes 2	Holmes 3	Holmes4	Holmes 5	Holmes 6	Holmes 7	Holmes 8	Holmes 9	Holmes 10	Holmes 2006-1
02Q3	-	703	-	-	352	-	-	-	-	-	-
02Q4	-	-	-	-	352	-	-	-	-	-	-
03Q1	-	-	750	-	-	-	-	-	-	-	-
03Q2	-	-	-	-	-	-	-	-	-	-	-
03Q3	600	-	-	-	-	481	-	-	-	-	-
03Q4	-	176	-	191	-	481	-	-	-	-	-
04Q1	-	176	-	191	-	-	241	-	-	-	-
04Q2	-	176	-	191	-	-	241	-	-	-	-
04Q3	-	176	-	191	-	-	-	-	-	-	-
04Q4	-	-	-	-	698	-	-	-	-	-	-
05Q1	-	-	750	-	-	-	-	-	-	-	-
05Q2	-	-	-	-	-	801	-	1,001	-	-	-
05Q3	650	-	-	-	-	-	-	-	-	-	-
05Q4	-	125	-	-	-	-	-	-	-	-	-
06Q1	-	125	-	-	-	-	803	-	-	-	-
06Q2	-	125	-	-	-	-	-	-	-	-	-
Outstanding Class A Notes
06Q3	-	125	546	1,456	-	-	-	-	-	-	-
Expected Redemption	Holmes 1	Holmes 2	Holmes 3	Holmes4	Holmes 5	Holmes 6	Holmes 7	Holmes 8	Holmes 9
06Q4	-	-	-	350	875	-	-	-	-	-	-
06Q2	-	-	-	-	-	-	-	-	-
Outstanding Class A Notes
06Q3	-	125	500	1,340	-	-	-	-	-
Expected Redemption	Holmes 1	Holmes 2	Holmes 3	Holmes4	Holmes 5	Holmes 6	Holmes 7	Holmes 8	Holmes 9	Holmes 10	Holmes 2006-1
06Q4	-	-	-	~~350~~-	~~875~~-	-	-	-	-	-	-
07Q1	-	-	-	-	-	-	161	812	1,018	-	-
07Q2	-	-	-	-	-	634	161	-	-	-	-
07Q3	575	-	-	-	-	-	-	-	-	679	-
07Q4	-	300	-	-	-	770	-	-	-	-	795
08Q1	-	-	-	-	-	-	-	-	-	-	-
08Q2	-	-	-	-	-	500	592	221	-	388	-
08Q3	-	-	-	-	-	-	-	221	1,272	388	-
08Q4	-	-	-	-	-	-	-	221	-	-	-
09Q1	-	-	-	-	-	-	-	1,171	-	-	-
09Q2	-	-	-	-	-	-	-	-	-	342	-
09Q3	-	-	-	-	-	-	-	-	-	342	397
09Q4	-	-	-	-	-	-	-	-	-	-	397
10Q1	-	-	-	-	-	-	-	-	453	-	-
10Q2	-	-	-	-	-	-	-	-	453	-	-
10Q3	250	-	-	-	-	-	-	-	600	-	-
10Q4	-	-	-	-	-	-	-	-	-	1,526	1,632
11Q1	-	-	-	-	-	-	-	-	-	-	-

Page 9 of 10

Page 10 of 10

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

HOLMES FINANCING (No 2) PLC

Dated: 2722nd ~~June~~December 2006 By / s / Jessica Petrie ~~(Authorised Signatory)~~

(Authorised Signatory)

Filing Compare · HOLMES FINANCING NO 2 PLC