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Mercantile offers new discount mortgage rates

Mercantile Building Society is offering a mortgage discounted by 2.1 per cent off its standard variable rate of 7.39 per cent until July 2003.

The discount is available for mortgages up to 80 per cent loan to value. For mortgages up to 90 per cent loan to value the discount is 1.6 per cent.

The discounted mortgages carry no penalties for early repayment.

Unemployment insurance for mortgage payments is provided free for the first year.

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