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Northern Rock postpones fee reduction

Northern Rock has postponed the reduction of its application fee due to a systems error.

Last Friday the lender announced it would slash its mortgage application fee for home buyers by 60 per cent, from £250 to £99 on August 23.

Northern Rock says it is now working to implement the fee reduction as quickly as possible.

However, the lender says it will honour the £99 fee for any applications submitted on August 23.

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