RNS Number:6389A
Gracechurch Mortgage Finance (No.3)
16 March 2001


                 RATE FIX: AMENDMENT TO RATE

Issue:           Gracechurch Mortgage Finance (No.3) Plc
                 #300,000,000 Class A Mortgage Backed FRN due 2029  XS0051727138
                 #  9,000,000 Class B Mortgage Backed FRN due 2029  XS0051727302

Interest Rates:  Class A Notes:     5.69625%
                 Class B Notes:     6.54625%
3 Month GBP 
LIBOR:           5.49625%
Interest Period: 15th March 2001 to 15th June 2001
Days in Period:  92
Interest Payment
Date:            15th June 2001
Coupon Rate:     Class A Notes:    per GBP 100,000: GBP 427.21
                 Class B Notes:    per GBP 100,000: GBP 1,650.01

Pool Factor for Class A Notes: 0.297544   (=89,263,440)
(after payment of 15th March 2001


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