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Pru cuts variable rate

Prudential Banking is cutting its standard variable rate for mortgages by 0.5 per cent to 8.2 per cent.


The bank says house purchase customers with a Lifetime Guarantee mortgage will see their interest rate reduced to 7.24 per cent and re mortgage customers to 7.35 per cent.


Pru Bank mortgage marketing manager Kathy Taylor says: &#34These rate cuts are good news for home owners and should get the home buying season off to a healthy start next year.&#34

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