THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. 
    IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD 
          SEEK THEIR OWN FINANCIAL AND LEGAL ADVICE, INCLUDING AS TO ANY TAX       
      CONSEQUENCES, IMMEDIATELY FROM THEIR STOCKBROKER, SOLICITOR, ACCOUNTANT OR   
                     OTHER INDEPENDENT FINANCIAL OR LEGAL ADVISER                  

                           NOTICE OF RESULTS OF THE MEETING                        

    To the holders of the £192,270,000 8.25 per cent. Secured Loan-Backed Notes due
                     June 2027 ISIN: XS0073407537 and XS0222506395                 
                                     (the "Notes")                                 
                       issued by Housing Association Funding PLC                   
                                    (the "Issuer")                                 

    Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16
    April 2014 (Market Abuse Regulation) requires disclosure by or on behalf of the
    Issuer of any inside information concerning the Issuer.

    Capitalised terms used but not otherwise defined herein shall have the meanings
    ascribed to them in the consent solicitation memorandum and notice to
    Noteholders dated 22 December 2016 (the Consent Solicitation Memorandum).

    REFERENCE IS MADE TO the Consent Solicitation Memorandum.

    NOTICE IS HEREBY GIVEN to the Noteholders that, at the meeting of Noteholders
    convened by the Issuer pursuant to the Consent Solicitation Memorandum and held
    on 16 January 2017, the Extraordinary Resolution (as set out in the Consent
    Solicitation Memorandum) was duly passed by the Noteholders.

    As a consequence of the Extraordinary Resolution being passed by the
    Noteholders, the entry into the Amendment Documents by the Issuer, Trustee and
    the other parties to the Amendment Documents (together, the "Parties") in order
    to, amongst other things, implement the Proposal described in the Consent
    Solicitation, has been duly sanctioned by the Noteholders. As such, the
    Amendment Documents will now be circulated to the Parties for execution.

    Queries may be addressed to the Issuer as follows:

    Housing Association Funding PLC:

    Address:                  4th Floor, 40 Dukes Place, London EC3A 7NH

    Attention:                 The Directors

    Telephone:               +44 (0)20 7397 6372

    e-mail:                    spvservices@capitafiduciary.co.uk           

    HOUSING ASSOCIATION FUNDING PLC

    16 January 2017