The pool for Elstree 2025-1 1ST PLC contains £317.99 million first-lien buy-to-let (BTL) and owner-occupied residential mortgage loans located in the U.K. The loans in the pool were originated by West One Secured Loans Ltd. (WOSL) and West One Loan Ltd. (WOLL), which are wholly owned subsidiaries of Enra Specialist Finance Ltd. (Enra) The pool comprises 65.3% BTL loans and 34.7% owner-occupied properties. The transaction includes a prefunded amount of 43%, where the issuer can purchase loans from the Elstree Funding No.2 PLC transaction until the first interest payment date (IPD). On the first IPD, if these loans are not purchased, the pre-funding unused amount will pay down the collateralized notes pro-rata (according to the principal waterfall). The difference between