Sovereign Home Equity Line of Credit

Member FDIC © 2008 Sovereign Bank | Sovereign Bank, its logo and FlexLock are registered trademarks of Sovereign Bank or its affiliates or subsidiaries in the United States and other countries.

Maximum loan-to-value ratio is 80% in PA, NJ, MD, NY, CT, RI, MA, and NH. The maximum loan-to-value ratio in all other states in which Sovereign lends is 70%.

* Minimum monthly payments are based on a credit limit of $250,000 or more and an APR of 4.74%. Minimum monthly payment may vary each month based on the unpaid balance and the Prime Rate. Although a principal payment is not required during the draw period, it is recommended in order to reduce the balance owed.

To get the APR shown, you must have or must open a Sovereign Premier, Business Owner Premier or Sovereign Partnership Checking account, or Premier Money Market Savings account, and use automatic payment from the qualifying account. The APR on your line may increase after you obtain credit and automatic payment from the qualifying account is discontinued. The APR assumes that your total mortgage loans, including your home equity line of credit, do not exceed 80% of the appraised value of your 1-4 family owner-occupied home located in CT, MA, NH, NJ, PA, or RI. Property insurance is required. Flood insurance may be required. Rates and other terms accurate as of October 10, 2008, and are subject to change thereafter. Applications are subject to credit approval. Account use is subject to the terms of the Sovereign Home Equity Line of Credit Agreement.

Variable rates are subject to change and may vary monthly based on the latest U.S. Prime Rate as published in the Money Rates section of The Wall Street Journal as of the first business day of the month, plus a margin of +.24% for lines of $250,000 and above (currently 4.74% APR), a margin of +.74% for lines of $75,000-$249,999 (currently 5.24% APR), a margin of +.99% for lines of $25,000-$74,999 (currently 5.49% APR) or a margin of +1.24% for lines of $10,000-$24,999 (currently 5.74% APR). Maximum APR is 18%. Minimum APR is 1.99%. Other rates and terms apply to investment properties. There is a $220 termination fee if you close the line within 30 months. There is a $50 annual fee that is waived if you have a Sovereign Premier, Business Owner Premier or Sovereign Partnership Checking account.

The fixed rate lock APR is determined based on loan amount, term and other factors at the time lock-in is requested and applies only to the portion of your line that has been locked in at a fixed rate. Lock rates differ from the current variable rates described above. There is a $50 fixed rate lock fee for each lock-in request, which is waived through December 2008. Fixed rate locks are subject to the terms and conditions explained in your loan documents, and must be repaid over a fixed term in substantially equal monthly payments of principal and interest.

If your home is on the market for sale at the time of application, you are not eligible for this offer. May not be combined with any other home equity offers.

** Check with your tax advisor regarding tax deductibility.