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Barclays and The Woolwich hike standard variable rate

Barclays and The Woolwich will increase their standard variable mortgage rate by 0.25% to 6.54% for both new and existing borrowers from July 1 2004.

This will cost the average homeowner with a £75,000 repayment mortgage over 25 years an extra £11.67 a month.

As with previous rate changes, savings rate increases from Barclays and The Woolwich will be effective from the same day as the new mortgage rates (July 1 2004). Savings rate details will be announced later this month.

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Reforming India: just the beginning

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