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Barclays becomes next lender to cut rate

Barclays is the latest major lender to cut its standard variable mortgage rate by 0.25 per cent.


The cut will be effective from February 1 reducing the rate to 7.45 per cent.


Barclays Mortgages marketing director Jim Chadwick says: &#34We are pleased to be able to pass on the Bank of England&#39s base rate cut to our mortgage borrowers. We feel that this will boost consumer confidence and further stabilise the housing market.&#34

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