7.95% Fixed to 30/04/2012

4.75% Tracker

Up to £450,000 70% LTV (Rmg 70%)

Mortgage NOT portable, Mortgage is Flexible, Overpayments allowed.

This regulated mortgage contract cannot be transferred to another property. However, any early repayment charges will not be applied if you move house and take a new regulated mortgage contract from the range of products available at the time, provided the redemption of the current regulated mortgage contract and the completion of the new regulated mortgage contract are simultaneous.

First time buyer definition:

MBS Lending defines a First Time Buyer (FTB) application as the main party to the mortgage not having had a mortgage during the last 36 months or more. If the main party to the mortgage has not had a mortgage during the last 36 months self certification will not be available.

You may make regular overpayments or lump sum payments as often as you

wish.

If you make a one off overpayment of £500 or more in addition to the normal monthly repayment to your mortgage any early repayment charge will be applied on a pro-rata basis. See section 10 for any early repayment charges which apply to this regulated mortgage contract.

After making an overpayment, if requested by you, the Society will adjust your monthly payments or amend your remaining term. (if applicable).

Interest is calculated on a daily basis and therefore the amount on which interest is charged is reduced immediately following an overpayment.

You may make overpayments of up to £5,000 each year without incurring any early repayment charges

Capital Rest Period : Daily

Repayment Yes

Endowment Yes

PEP Yes

Pension Yes

Interest only (no RV) Yes

With Profits Yes

Unit Linked Yes

ISA Yes

Split Repayment Yes

Arrangement : £1495 Can be Added

Booking : None

6% of loan to be paid until 30/04/2012

None

Basic:

upto £100,000 - £259

upto £200,000 - £299

upto £300,000 - £369

upto £400,000 - £449

upto £500,000 - £499

upto £700,000 - £699

upto £1,000,000 - £899

Homebuyers:

upto £100,000 - £449

upto £200,000 - £499

upto £300,000 - £599

upto £400,000 - £699

upto £500,000 - £799

upto £1,000,000 - £1199

Completion Fee and Telegraphic Transfer Fee can be added to the loan. The Application Fee must be paid up front.

Added fees will not be included in this calculation.

Lenders Conveyancing Fee - £200.00 Payable on completion. A legal fee will be payable to your conveyancer for the work they will carry out on behalf of MBS Lending Limited. This is an estimated fee and only covers part of the costs of legal work that you might need to pay.

Deeds Release Fee - £40.00 Payable on redemption.

Mortgage Discharge Fee - £130.00 Payable on redemption.

Telegraphic Transfer - £25.00 Payable on completion.

Freehold Flat No

Purpose Built Flat Yes

Converted Flat No

Flat Over Shop No

Maisonette Yes

Studio Flat No

Flying Freehold No

Thatched No

Timber Framed No

Concrete No

Agricultural Tie No

Flat Over 4 Storeys No

Listed Building No

Not Accepted

Properties in London not accepted.

Accepted Locations : England, Wales

Bank Statements No

At Least 3 Months Pay Slips Yes

P60 Yes

Proof Of Residency Yes

Life Policy To Be Assigned No

Previous Lender References Yes

Buildings Conditional

Min Loan £25,001/Rmg £25,001

Max Loan £450,000/Rmg £450,000

Max Portfolio of BTL Loans none

Min Age 18 years

Max Age 70 years

Min Term 5 years

Max Term 40 years

Foreign Citizens Accepted

Ex-Patriates Not Accepted

Based on Income > 0

Min months in current position 3

Min months in continuous service 12

Min no. of years accounts 2

Average years taken to calculate income 2

Will consider declining profit No

Affordability Calculator can be found on MBS Lending website.

Total outgoings must not exceed 53% of the total monthly Net disposable income up to 80% LTV, over 80% LTV - 47% of the total monthly Net disposable income

Minimum Income £10000

Hire Purchase Taken into account

Personal Loans Taken into account

Overdraft NOT Taken into account

Credit/Store Cards Taken into account

Child Maintenance Taken into account

Child Education NOT Taken into account

Extra Income:-

Other Income - Guaranteed Add 100% to income before multiply

Other Income - Regular Add 50% to income before multiply

Other Income - Irregular No

Investment Income Refer to Lender

Mortgage Subsidy Refer to Lender

Large Town Allowance Add 100% to income before multiply

Maintenance Payments Add 50% to income before multiply

Non Contributory Pension No

Car Allowance No

Capital Raising 70%

Home Improvements 70%

Debt Consolidation 70%

School Fees 70%

Holidays/Cars 70%

Buy Other Property 70%

Business Purposes 70%

Divorce Settlement 70%

Unencumbered 70%

CCJs/Defaults : Accept:

1) There must be no Defaults in the last 3 months. This condition does not incur any rate loading.

2) Max £4,000.00 in CCJs unsatisfied. There must be no CCJs in the last 6 months. This condition does not incur any rate loading.

Ignore:

1) CCJs registered 24 months ago or over.

Arrears : Accept:

1) Max 3 missed payments in the last 12 months, which may be unpaid at the time of application. No arrears (paid or unpaid) in the last 3 months. This condition does not incur any rate loading.

Bankruptcy/IVAs : Accept:

1) Bankruptcy must be discharged at least 1 year prior to application. This does not incur any rate loading.

2) IVA must be discharged at least 1 year prior to application. This does not incur any rate loading.

Repossessions : Ignore Repossessions 24 months ago or over. Repossessions settled 24 months ago or over will be accepted, and do not incur any rate loading.