Thursday 6th November

Dear Intermediary

Following the reduction in the Bank of England rate by 1.50%, we can confirm that the Barclays Bank base rate has also been decreased by the same amount.

Our variable rate products and reversionary rates are linked to Barclays Bank base rate, which in turn mirrors the Bank of England rate. However, whilst markets are beginning to show some stability following recent global government intervention they still remain uncertain, and this is still translating into historically high funding costs despite the actions of central banks. We have therefore had to retain the absolute rates we can offer your customers until we see an easing of funding rates. These rates are effective Friday 7^thNovember 2008.

Click here for our updated Product and Rate Guide.

Pipeline Arrangements

For all new applications submitted after close of business today, 4508 terms will apply.

All applications offered on the 4308 range or previous by close of business today will be honoured on present terms. If any of these applications need to be subsequently re-offered for any reason, the case will be subject to criteria, rates and fee prevailing at the time.

All pipeline applications submitted but not yet offered can only be progressed on the 4508 range and will be subject to criteria, rates and fees prevailing at the time.

There will be no exception to these rules

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

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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.

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