Changes to product transfer & further advance commission structures

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As previously announced, please be aware that changes are being made to the procuration fee structure we currently pay to intermediaries for product transfer and further advance applications. This change does not affect the proc fee structure for acquisition applications.

These fee structure changes will be introduced for all new retention applications with effect from today, Wednesday, 24th June 2009.

Our tracker rate mortgages are linked to Bank of England bank rate (also known as Bank of England repo rate). Details of this rate can be found on the Bank of England website at www.bankofengland.co.uk or in the Financial Times or other leading newspapers.

For independent information on mortgages, visit the FSA website 'Money Advice Service'.

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