6-K 1 c87896_6k.txt FORM 6-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 REPORT OF FOREIGN REGISTRANTS PURSUANT TO RULE 13A-16 OR 15D-16 OF SECURITIES EXCHANGE ACT OF 1934 GRANITE MORTGAGES 02-2 PLC (TRANSLATION OF REGISTRANT'S NAME INTO ENGLISH) FIFTH FLOOR, 100 WOOD STREET, LONDON EC2V 7EX, ENGLAND (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) GRANITE FINANCE TRUSTEES LIMITED (TRANSLATION OF REGISTRANT'S NAME INTO ENGLISH) 22 GRENVILLE STREET, ST HELIER, JERSEY JE4 8PX, CHANNEL ISLANDS (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) GRANITE FINANCE FUNDING LIMITED (TRANSLATION OF REGISTRANT'S NAME INTO ENGLISH) 4 ROYAL MINT COURT, LONDON EC3N 4HJ, ENGLAND (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) INDICATE BY CHECK MARK WHETHER THE REGISTRANTS FILE 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 REGISTRANTS BY FURNISHING THE INFORMATION CONTAINED IN THIS FORM ARE ALSO THEREBY FURNISHING THE INFORMATION TO THE COMMISSION PURSUANT TO RULE 12G3-2(B) UNDER THE SECURITIES EXCHANGE ACT OF 1934. YES..........NO........X........... On September 23, 2002, Granite Mortgages 02-2 plc issued and sold certain notes under Registration Statement No. 333-97023. Certain master trust documents which have been amended and restated on or about May 21, 2003, the provisions of which apply to Granite Mortgages 02-2 plc, are annexed hereto as Appendix A. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned, thereunto duly authorized. GRANITE MORTGAGES 02-2 PLC Date: June 13, 2003 By: /s/ Clive Rakestrow Name: Clive Rakestrow, representing LDC Securitisation Director No 1 Limited Title: Director GRANITE FINANCE FUNDING LIMITED By: /s/ Jonathan Rigby Date: June 13, 2003 Name: Jonathan Rigby Title: Director GRANITE FINANCE TRUSTEES LIMITED By: /s/ Richard Gough Date: June 13, 2003 Name: Richard Gough Title: Director 3 ANNEX A EXHIBIT INDEX EXHIBIT NO. DESCRIPTION OF EXHIBIT ----------------------------------- 4.2 Sixth Amended and Restated Mortgages Trust Deed 4.3 Sixth Amended and Restated Mortgage Sale Agreement 10.5.1 Fifth Amended and Restated Master Definitions Schedule 4

Arrears Analysis of Non Repossessed Mortgage Loans --------------------------------------------------------------------------------------------------------- Number Principal (pound) Arrears (pound) By Principal (%) < 1 Month 192,639 13,275,167,083 0 99.01% > = 1 < 3 Months 1,863 114,688,907 995,846 0.86% > = 3 < 6 Months 264 15,231,932 367,237 0.11% > = 6 < 9 Months 38 2,212,831 98,527 0.02% > = 9 < 12 Months 7 226,346 13,234 0.00% > = 12 Months 3 85,772 20,632 0.00% Total 194,814 13,407,612,871 1,495,476 100.00% ---------------------------------------------------------------------------------------------------------

Geographic Analysis --------------------------------------------------------------------------------------------------------- Number % of Total Value (pound) % of Total East Anglia 4,706 2.42% 323,123,470 2.41% East Midlands 16,610 8.53% 1,001,548,681 7.47% Greater London 22,665 11.63% 2,475,045,336 18.46% North 28,070 14.41% 1,342,102,048 10.01% North West 29,072 14.92% 1,623,661,919 12.11% South East 30,686 15.75% 2,807,554,135 20.94% South West 14,345 7.36% 1,057,860,656 7.89% Wales 9,669 4.96% 530,941,470 3.96% West Midlands 14,873 7.63% 941,214,424 7.02% Yorkshire 24,118 12.38% 1,304,560,732 9.73% Total 194,814 100% 13,407,612,871 100% ---------------------------------------------------------------------------------------------------------

LTV Levels Breakdown --------------------------------------------------------------------------------------------------------- Number Value (pound) % of Total 0% < 25% 7,368 201,114,193 1.50% > = 25% < 50% 20,217 1,356,850,423 10.12% > = 50% < 60% 13,376 1,072,609,030 8.00% > = 60% < 65% 7,720 648,928,463 4.84% > = 65% < 70% 9,164 772,278,501 5.76% > = 70% < 75% 16,324 1,256,293,326 9.37% > = 75% < 80% 12,451 1,014,956,294 7.57% > = 80% < 85% 13,216 990,822,591 7.39% > = 85% < 90% 35,157 2,377,169,762 17.73% > = 90% < 95% 44,426 2,867,888,393 21.39% > = 95% < 100% 15,306 844,679,611 6.30% > = 100% 89 4,022,284 0.03% Total 194,814 13,407,612,871 100.0% --------------------------------------------------------------------------------------------------------- -------------------------------------------------------------------------------- NR Current Existing Borrowers' SVR 5.69% Effective Date of Change 1 March 2003 --------------------------------------------------------------------------------

Notes Granite Mortgages 02-2 plc --------------------------------------------------------------------------------------------------------- Outstanding Rating Reference Rate Margin Moodys/S&P/Fitch Series 1 A1 $310,000,000 Aaa/AAA/AAA 1.44% 0.11% A2 $1,150,000,000 Aaa/AAA/AAA 1.51% 0.18% B $60,000,000 Aa3/AA/AA 1.70% 0.37% C $88,000,000 Baa2/BBB/BBB 2.58% 1.25% Series 2 A (euro)1,100,000,000 Aaa/AAA/AAA 2.75% 0.19% B (euro)41,000,000 Aa3/AA/AA 2.93% 0.37% C (euro)53,000,000 Baa2/BBB/BBB 3.81% 1.25% Series 3 A (pound)665,000,000 Aaa/AAA/AAA 3.84% 0.19% B (pound)25,000,000 Aa3/AA/AA 4.02% 0.37% C (pound)33,000,000 Baa2/BBB/BBB 4.90% 1.25% ---------------------------------------------------------------------------------------------------------

Credit Enhancement --------------------------------------------------------------------------------------------------------- % of Funding Share Class B Notes ((pound)Equivalent) (pound)90,075,869 0.93% Class C Notes ((pound)Equivalent) (pound)123,900,819 1.28% --------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------- Granite Mortgages 02-2 Reserve Fund Requirement (pound)39,000,000 0.40% Balance Brought Forward (pound)34,965,972 0.36% Drawings this Period (pound)0 0.00% Reserve Fund Top-up this Period* (pound)4,034,028 0.04% Excess Spread (pound)0 0.00% Current Balance (pound)39,000,000 0.40% --------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------- Funding Reserve Balance (pound)23,315,837 0.24% Funding Reserve % 0.6% NA --------------------------------------------------------------------------------------------------------- *Top-ups only occur at the end of each quarter.

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