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NU reduces lifetime mortgage interest rates

Norwich Union is reducing the interest rates on its fixed rate lifetime mortgage from 10 January 2005.

The fixed interest rate for lifetime mortgages introduced by intermediaries will be 6.87 per cent (7.30 per cent APR). The fixed interest rate offered by the Norwich Union Personal Finance sales force will be 7.06 per cent (7.50 per cent APR).

NU Personal Finance director Mark Kelly says: “Norwich Union is the leading provider of lifetime mortgages in the market and we continually review our interest rates to ensure that they remain competitive.”

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