By Harry Wallop, Consumer Affairs Correspondent One of Britain's biggest mortgage lenders has cut some of its rates, raising faint hopes that the worst may be over in the crisis-hit mortgage market. Cheltenham & Gloucester, the country's fourth largest home loan provider, trimmed some of its fixed-rate deals, taking down rates from 7.05 per cent to 6.99 per cent. The move follows a similar cutting of rates last week, which led some commentators to predict that banks and building societies – after four months of relentlessly raising rates – had stopped increasing their costs. Melanie Bien, director at mortgage brokers Savills, said: "It is encouraging that a lender is reducing rates, however slightly. This will be encouraging for new borrowers and homeowners looking to remortgage." However, she warned that C&G's move was an...
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