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Following the recent ECB decision to reduce rates by 0.25%, Haven Mortgages will implement the following changes effective January 1st 2012:

Tracker rates will reduce in line with contractual arrangements by 0.25%. Existing homeloan and investor variable rates will reduce by 0.35%

In summary, this reduction delivers revised rates as follows:

Standard Variable Rate

|——————+——————+——————+——————|

|                  |                  |                  |                  |

|     Old Rate     |        APR       |     New Rate     |        APR       |

|——————+——————+——————+——————|

|                  |                  |                  |                  |

|       4.70%      |       4.8%       |      4.35%       |       4.5%       |

|——————+——————+——————+——————|

Investor Variable Rate

|——————+——————+——————+——————|

|                  |                  |                  |                  |

|     Old Rate     |        APR       |     New Rate     |        APR       |

|——————+——————+——————+——————|

|                  |                  |                  |                  |

|       5.19%      |       5.3%       |      4.84%       |       5.0%       |

|——————+——————+——————+——————|

HAVEN MORTGAGES VARIABLE RATE CHANGE

From 1st April 2011, all existing Homeloan Variable Rate customers (e.g. standard variable rate, LTV based variable rate etc) will see a 0.60%  increase in their applicable rate.  The Investor Variable Rate will also  increase by 0.30%. The revised variable rates are as follows:

Homeloan Standard Variable Rate 4.45% (4.6% APR)

Investor Standard Variable Rate 4.94% (5.1% APR)

These changes will impact existing customer repayments from 7th April 2011.

 New business variable rates will increase by 0.60% as per the table below. These new rates are effective today 24th March 2011.

LTV Based Variable Rates
<50% LTV                  = 3.69% (3.8% APR)
>50% <75% LTV       = 3.89% (4.0% APR)
>70% LTV                  = 4.09% (4.2% APR)

The rate applicable at drawdown shall be the rate available on the date of drawdown.  This rate may be higher or lower than the above quoted rates.