"Brand new customers only" was once the comical slogan used to mock banks and building societies that hiked existing customer charges while lowering those for newbies.
Tens of thousands of homeowners with mortgages held by two Government-run banks will be able to switch lender without the usual four-figure exit penalties.
First-time buyers (FTBs) who've got on the housing ladder are spending less of their income on servicing mortgage debt but many other wannabe homeowners are still struggling to buy.
14 January 2010
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