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Nationwide to increase mortgage and savings rates

Nationwide has announced that it will increase its mortgage and savings rates from July 1.

All savings rates will be increased by at least 0.20% and many will be increased by 0.25%. The base mortgage rate will be increased by 0.25% which Nationwide says leaves it around 0.75% lower than the standard variable rates of most other major high street lenders.

This follows last Thursday&#39s decision by the Bank of England&#39s Monetary Policy Committee to increase the base rate by 0.25%.

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