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Britannia cuts its SVR by 0.25%

Britannia building society is cutting its standard variable rate by 25 basis points.

The rate, reduced from October 1, will drop from 6.35 per cent to 6.10 per cent, and will be available for new and existing borrowers.

Britannia managing director of member business Tim Franklin says: “The reduction will result in savings for our members. Britannia already has a competitive SVR and this latest cut will ensure that our products continue to offer long term value.”

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