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Mortgage rates drop but lenders withdraw deals

10/10/2008

Mortgage rates have been dropping since the bank of England announced a surprise rate cut of half a percentage point, but lenders are still withdrawing the best deals despite the Government's £50billion bail-out plan.

Following the Bank of England's Monetary Policy Committee's decision, a significant number of lenders immediately announced that they would be dropping their mortgage rates in line with the 0.5 per cent cut in the base rate.  more


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