British Mortgages Abroad - Florida Press Release May 2007

For immediate release: May 2007

UK Investors Surge to Florida Market

• GE Money Home Lending sees Florida sales double year-on-year as UK buyers remain focused on the Florida market
• Investors surge into the market place as the pound recently reached a 26-year high against the dollar
• Current UK investors urged to looks at the long-term investment of their properties and advised against selling in the current market place

"The Florida market is still performing strongly for UK investors looking for a home abroad. We have seen strong growth in this market through our British Mortgages Abroad products, which are up 100% on the first quarter of 2006. Clearly the US economy is going through change, with a slow down in house price inflation of 6.5% across the country, however, Florida is still performing relatively strongly with house price inflation at 9.5%."

Gerry Bell, Head of Marketing, British Mortgages Abroad

GE Money Home Lending, based in the UK, has seen a 100% increase in business to date in 2007, based upon the same period in 2006, bucking the sentiments that property investors are turning away from the Florida market place as a choice for their holiday homes.

Many property investors looking towards buying a home in Florida have been warned off the market place in recent months, given lower house price inflation in the US, with many media articles in the UK warning of a falling market. However, when looking at the Florida market place, it still gave a solid performance last year with house price inflation sitting at 9.5%.

This, together with the current strength of sterling against the dollar, potentially represents a good investment opportunity for those looking for a second home abroad and particularly those seeking a longer-term investment opportunity.

Florida has always been a popular choice amoung British tourists and as a destination for holiday homes. GE Money Home Lending offers UK citizens the opportunity to secure a sterling mortgage on a property in Florida, enabling many to secure their dream holiday home or investment property - based upon the Bank of England base rate and a system which they are familiar with.

Gerry Bell continued:

"It would be unwise for investors looking to sell their property in Florida to do so at a time when the market is unsettled, unless they clearly needed to do so. Florida remains a solid option for long term property investment. For those looking to sell and repatriate to the UK, they need to avoid knee-jerk reaction, making sure that their decision is considered and well informed given the current market and strength of the pound."

About GE Money Home Lending:

• With assets in excess of $26billion GE Money Home Lending is a one of the UK’s leading specialist lenders. Through its First National and igroup brands it offers a range specialist mortgages and flexible unsecured loans for the home improvement and holiday ownership markets.
• GE Money Home Lending’s products are sold through a national network of carefully selected and accredited intermediaries, including packagers, mortgage brokers, credit brokers and independent financial advisers.
• Branded lending is a major part of GE Money Home Lending’s distribution strategy and it currently has over 17 key partnerships which include, TMT, PINK, and Optoma.