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CIS cuts mortgage rate to 7.7 per cent

The Co-operative Insurance Society is cutting interest rates on monthly house price mortgages from 8.5 per cent to 7.7 per cent.


CIS offers both endowment and repayment mortgages and has over 20,000 policyholders.


It says that because it calculates interest on a daily basis it offers customers a better deal than lenders that calculate on a monthly basis.

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