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Mortgages plc to increase rates

Merrill Lynch subsidiary Mortgages plc has announced that it will be increasing its rates again by between 0.05 per cent and 0.92 per cent with effect from September 19.

Applications on current products must be submitted by September 18.

Marketing director Ian Whittaker says: “The continuing volatility in the capital markets mean we have no option but to raise the pricing of our products. We will continue to monitor the markets carefully to ensure our products and pricing remain appropriate, given the current state of the market.”

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