Loan Tranche Supplement among Granite Finance Funding 2 Limited, Granite Master Issuer PLC, The Bank of New York, and Citibank, N.A. dated May 23, 2007

Summary

This agreement supplements a prior loan agreement between Granite Finance Funding 2 Limited (the borrower) and Granite Master Issuer PLC (the lender), with The Bank of New York as security trustee and Citibank, N.A. as agent bank. It sets out the final terms for several loan tranches funded by specific note issuances, including principal amounts, interest rates, payment schedules, and repayment terms. The agreement details how and when the loans are to be repaid, with final repayment due in April 2032, and specifies interest rate adjustments and controlled amortization schedules.

EX-4.1.2 4 efc7-1485_ex412.txt Exhibit 4.1.2 Dated 23 May, 2007 GRANITE FINANCE FUNDING 2 LIMITED as Funding 2 GRANITE MASTER ISSUER PLC as Master Issuer THE BANK OF NEW YORK as Funding 2 Security Trustee CITIBANK, N.A. as Agent Bank ----------------------------------------- LOAN TRANCHE SUPPLEMENT ----------------------------------------- SIDLEY AUSTIN -------------| SIDLEY | THIS LOAN TRANCHE SUPPLEMENT is dated 23 May, 2007 between: (1) GRANITE FINANCE FUNDING 2 LIMITED (registered number ###-###-####) a private limited liability company incorporated under the laws of England and Wales whose registered office is at Fifth Floor, 100 Wood Street, London EC2V 7EX as Funding 2; (2) GRANITE MASTER ISSUER PLC (registered number ###-###-####) a public limited company incorporated under the laws of England and Wales whose registered office is at Fifth Floor, 100 Wood Street, London EC2V 7EX as Master Issuer; (3) THE BANK OF NEW YORK, acting through its office at 40th Floor, One Canada Square, London E14 5AL in its capacity as the Funding 2 Security Trustee; and (4) CITIBANK, N.A., acting through its office at Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB in its capacity as the Agent Bank. This document constitutes the Loan Tranche Supplement relating to the Loan Tranches described herein. Terms used herein shall be deemed to be defined as such for the purposes of the Global Intercompany Loan Agreement entered into between the parties hereto on 19 January, 2005. This Loan Tranche Supplement contains the final terms of the Loan Tranches identified and described herein, is supplemental to and must be read in conjunction with the Global Intercompany Loan Agreement. Loan Tranche: The Series 2007-2 Class 1A1 Notes will fund the Series 2007-2 AAA (Class 1A1) Loan Tranche which shall have the following terms:

7 Confirmations: Funding 2 confirms that: (a) no Funding 2 Intercompany Loan Event of Default has occurred and is continuing which has not been waived, or would result from the making of such Loan Tranche; (b) the representations and warranties set out in Clause 13 (Representations and Warranties of Funding 2) are true on and as of the Closing Date specified in this Loan Tranche Supplement by reference to the facts and circumstances then existing; and (c) as of the Closing Date specified in this Loan Tranche Supplement, there is no debit balance on the Funding 2 Principal Deficiency Ledger. The Master Issuer confirms that: (a) no Issuer Event of Default has occurred and is continuing which has not been waived, or would result from the making of such Loan Tranche; (b) the aggregate amount of the Loan Tranches to be made on the Closing Date specified in this Loan Tranche Supplement and any Loan Tranches outstanding on such Closing Date do not exceed the Total Credit Commitment. 8 EXECUTION PAGE for Loan Tranche Supplement as Funding 2 EXECUTED for and on behalf of ) GRANITE FINANCE FUNDING 2 LIMITED ) by ) /s/ Ian Bowden Name: Ian Bowden as Master Issuer EXECUTED for and on behalf of ) GRANITE MASTER ISSUER PLC ) by ) /s/ Ian Bowden Name: Ian Bowden as Funding 2 Security Trustee EXECUTED for and on behalf of ) /s/ I Bass THE BANK OF NEW YORK ) WITNESS: by ) IVAN BASS The Bank of New York /s/ H Kim One Canada Square Name: Helen Kim London E14 5AL Vice President The Bank of New York as Agent Bank EXECUTED for and on behalf of ) CITIBANK, N.A. ) by ) /s/ G Mitchell Name: GEORGIA MITCHELL 9