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Alliance and Leicester cut Standard Variable RateAlliance and Leicester have announced that they will be reducing their standard variable rate by a quarter of one percent on the 2nd of March. This will mean the rate is reduced from 7.69 to 7.44%. The news was welcomed by customers especially those on base rate tracker mortgages who will see their rates reduce by 0.25%.
Mortgage Broker .co.uk welcomes the reduction and encourages other lenders not to delay in reducing their rates. "Such moves only diminish the respectibility of lenders especially whne they are slow to pass on rate decreases." says Simon Jones spokes person for MortgageBroker.co.uk08 February 08
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