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Banks withdraw mortgages after 0.5% rate cut

UK house prices fell at their sharpest annual rate in at least 25 years in September, as some mortgage lenders were yesterday preparing to withdraw a number of their most competitive deals from the market in response to the central interest rate cut.

UK house prices fell at their sharpest annual rate in at least 25 years in September, as some mortgage lenders were yesterday preparing to withdraw a number of their most competitive deals from the market in response to the central interest rate cut.