First And Last

Mehrdad Yousefi, head of intermediary mortgages, A&L

In the late 1980s I became the proud owner of my first home. It was a tiny one-

bedroom flat in Eastbourne which I managed to buy with a 95% Barclays mortgage, having saved a deposit of just over 3,000.

I still remember when my mortgage rate went up to 15.4% in 1989 and I had no spare cash once I’d paid it each month.

In the early 1990s I moved to London with Alliance & Leicester and at the time chose to rent a two-bedroom flat in Kensington Park Road.

Since then, although I now work at A&L’s head office in Leicestershire, I’ve moved back to Eastbourne. My current home is an elegant terraced house. I bought it with a staff mortgage but in August 2002 I switched to a short-term fixed rate.

My last mortgage could be the one I’m about to take out to buy a property in France – a variable rate Euro deal.