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Mortgage pricing to be reformed

The Government has announced plans to make all banks and building societies obliged to publish reliable price information when selling mortgages.


The move is hoped to bring uniformity to the method of calculating Annual Percentage Return as it is currently open to interpretation.


The Chancellors statement is seen as an attempt at making lenders provide more accurate information to borrowers about the true cost of their loans.


The new regulations are likely to be enforced by the Department of Trade and Industry.

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