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Tue 07 Jul 2008Mortgage lenders raise rates above level of ECB increase
TWO MORTGAGE lenders have raised interest rates by a margin greater than the quarter point increase from the European Central Bank (ECB) earlier this month, passing on to customers higher funding costs due to the international financial crisis.
Permanent TSB, the State's largest mortgage lender, raised interest rates on some of its mortgage products by a greater margin than the 0.25 percentage point ECB rise. A spokesman for the bank said this was to take account of the higher bank funding costs.
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