Lender cuts &quota step in the right direction&quot

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Moneyfacts.co.uk have welcomed the decisions by a number of high profile lenders to reduce some of their mortage rates.
Nationwide, Abbey, Cheltenham & Gloucester, Northern Rock and Woolwich have all reduced rates during the first week of October.
Louise Holmes, spokesperson at Moneyfacts.co.uk, has welcomed the moves as “positive steps””.

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