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loan rates soar as grasping banks rake off more profit

Published: 02/02/2010

Daily Express (Main)

Greedy lenders have ramped up loan rates to their highest level in nearly a decade to safeguard profits while piling extra costs on struggling customers, a report revealed yesterday.
 
Andrew Hagger of finance website Moneynet.co.uk said: “The highly profitable Payment Protection Payment Protection Insurance cash cow is no longer there to subsidise lower loan rates.”

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