From: First National 1st Mortgages [UKHLSalesLiaison@ge.com]
Sent: 07 October 2008 15:58
To: Dale Jannels
Subject: First National Product Update

If you are experiencing difficulties in displaying this message correctly, click here

Tuesday 7th October

Dear Intermediary

With the continued volatility in financial markets over the last couple of weeks and further evidence of falling property prices, with effect from Friday 10^th October we will make the following changes:

FTB+, Near Prime+, Near Prime, Ultralight and Light products maximum 80% LTV for employed applicants
Near Prime+, Near Prime and Ultralight products maximum 80% LTV for self employed applicants
All other LTVs remain unaffected

Pipeline Arrangements

All cases above 80% LTV will need to be received by close of business on Friday 10^th October and offered by Friday 24^th October, which includes all existing cases already submitted over 80% LTV, other cases will be returned to yourselves.

All cases above 80% LTV will need to have had a DIP completed on the current 3808 range by 5.30pm on Thursday 9^th October.

After close of business on Thursday 9^th October you will be unable to amend existing IDOL DIPs created for these cases. However, provided there has been no change to any applicant’s full name, address or date of birth (as reflected within the KYC documentation), the application meets our criteria and is received before close of business on Friday 10^th October the original DIP decision will be honoured. If any of these details change, the new criteria will apply.

There will be no exception to these rules

New Product Guide

A new product guide will be issued after the Bank of England base rate announcement on Thursday.

We apologise for the short timelines in announcing these changes and the disruption this may cause to your business. We hope you appreciate that exceptional market conditions make these changes necessary.

If you have any questions please do not hesitate to contact your National Account Manager, Business Development Manager or the Sales Liaison Team on 0845 610 6560.

Kind regards

Mark Snape

Sales Director Packager Channel

PLEASE NOTE THAT THE ATTACHED IS FOR INTERMEDIARY USE ONLY AND SHOULD NOT BE DISPLAYED WHERE CUSTOMERS MAY VIEW IT NOR SHOULD IT BE SHOWN TO CUSTOMERS.

For intermediary use only.
This promotion is intended to provide information on First National products for mortgage professionals only and is not intended as a promotion to prospective First National customers. Prospective customers interested in First National products should first seek professional mortgage advice from an authorised intermediary before applying for a First National mortgage.

First National is a trading style of GE Money Home Lending Limited. Registered office Building 4, Hatters Lane, Croxley Green Business Park, Watford, Hertfordshire, WD18 8YF. Registered in England no 3770763. GE Money Home Lending Limited is authorised and regulated by the Financial Services Authority.

This email, and any attachments are confidential and intended solely for the use of the individual(s) to whom it is addressed. If you are not the intended recipient of this communication you should destroy it without copying, disclosing or otherwise using its contents. Please notify the sender immediately of the error. Internet communications are not necessarily secure and may be intercepted or changed after they are sent. We do not accept liability for any such changes. If you wish to confirm the origin or content of this communication, please contact the sender using an alternative means of communication. This communication does not create or modify any contract.

You received this email because you agreed to being contacted by First National in order to tell you from time to time about products and services which may be of interest. If you wish to unsubscribe please click here.

LEGAL | FIRST NATIONAL WEBSITE | LOG IN | CONTACT