Level: 8 – From: 8 – Wednesday, December 19, 2007 – 9:48 pm – mac8 – 3894 Intro : 3894 Intro NEWGATEFUNDINGPLC (Incorporated with limited liability in England and Wales with registered number 5713910) Mortgages Backed Securities Programme Issue of Series 2007-3 Mortgage Backed Floating Rate Notes Initial Principal Ratings Amount 1111111 (Moody’s/S&P/Fitch) 1111111123 Interest Rate 111111111112 Maturity 111111112 Issue Price 11111123 Class A1 .................. £300,000,000 P-1/A-1+/F1+ LIBOR +0.60% 1 15 December 2050 100 per cent. Aaa/AAA/AAA Class A2b ................ €399,000,000 Aaa/AAA/AAA EURIBOR +0.60% 15 December 2050 100 per cent. Class A3 .................. £148,100,000 Aaa/AAA/AAA LIBOR +1.00% 15 December 2050 100 per cent. Class Ba .................. £31,200,000 Aa2/AA/AA- LIBOR +1.25% 15 December 2050 100 per cent. Class Bb .................. €42,000,000 Aa2/AA/AA- EURIBOR +1.25% 15 December 2050 100 per cent. Class Cb .................. €44,000,000 A3/A/A- EURIBOR +1.50% 15 December 2050 100 per cent. Class D .................... £12,750,000 Baa3/BBB/BBB+ LIBOR +3.00% 15 December 2050 100 per cent. Class E .................... £11,500,000 Ba3/BBB-/BBB- LIBOR +4.50% 15 December 2050 100 per cent. 1. The Interest Rate on the Class A1 Notes may vary on an annual basis in accordance with Condition 6(b) (Interest on Floating Rate Notes) and Condition 9(j) (Mandatory Transfer of Class A1 Notes). Application has been made to the Irish Financial Services Regulatory Authority (Financial Regulator), as competent authority under EU Directive 2003/71/EC (the Prospectus Directive), for this Supplement to be approved. Application has been made to the IrishStockExchange Limited (the IrishStockExchange) for the Notes to be admitted to the Official List and trading on its regulated market. Approval of the Financial Regulator relates only to the Notes which are to be admitted to trading on the regulated market of the IrishStockExchange or other regulated markets for the purposes of EU Directive 2004/39/EC or which are to be offered to the public in any Member State of the European Economic Area. This Supplement comprises a prospectus for the purposes of the Prospectus Directive. Reference throughout this document to “Supplement” shall be taken to read “Prospectus”. This Supplement is a supplement to the offering circular dated 14 March 2007 (the Offering Circular, which Offering Circular comprises a base prospectus for the purposes of the Prospectus Directive), prepared in connection with a mortgages backed securities programme established by Newgate Funding Plc (the Issuer) on 29 March 2006 (the Programme). This Supplement is supplemental to, and should be read in conjunction with, the Offering Circular and relating to the Series of Notes to be issued pursuant hereto (the Series) and the Series Portfolio described herein. The Offering Circular is incorporated by reference into this Supplement. Unless the context otherwise requires, terms defined in the Offering Circular shall have the same meaning when used in this Supplement. Certain Series specific capitalised terms used in this Supplement have the meaning set out in the Index of Defined Terms at the back of this Supplement. This Supplement has been prepared for the purpose of giving information about the issue of the Series 2007-3 Mortgage Backed Floating Rate Notes by the Issuer which will comprise the Class A1 Notes, the Class A2b Notes, the Class A3 Notes (and together with the Class A1 Notes and the Class A2b Notes, the Class A Notes), the Class Ba Notes, the Class Bb Notes (and together with the Class Ba Notes, the Class B Notes), the Class Cb Notes, the Class D Notes and the Class E Notes (together, the Notes). The holders of the Notes shall be defined as the Noteholders. The Class A2b Notes, the Class Bb Notes and the Class Cb Notes shall be the Euro Notes. The Class A1 Notes will be subject to remarketing and conditional purchase provisions as described herein (the Remarketable Notes). The Notes will be issued on or about 20 December 2007 (the Issue Date). In addition, on the Issue Date, the Issuer will issue Series 2007-3 Mortgage Early Repayment Certificates due 15 December 2050 (the Series MERCs and the holders thereof, the Series MERC Holders), Series 2007-3 Residual Certificates due 15 December 2050 (the Series Residuals and the holders thereof, the Series Residual Holders) and Series 2007-3 Interest Rate Cap Certificates due 15 December 2050 (the Series Interest Rate Cap Certificates and the holders thereof, the Series Interest Rate Cap Certificate Holders). The Series MERCs, the Series Residuals and the Series Interest Rate Cap Certificates are not being offered by this Supplement or by the Offering Circular. Any investment in the Notes does not have the status of a bank deposit and is not within the scope of the deposit protection scheme operated by the Financial Regulator. An investment in the Notes involves certain risks. The risks in this Supplement are the same as those set out in the Offering Circular. For a discussion of these risks see “Risk Factors” in the Offering Circular. Programme Arranger MERRILL LYNCH INTERNATIONAL Merrill Lynch International Joint Lead Managers The Royal Bank of Scotland plc The date of this Supplement is 20 December 2007.