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higher mortgage ratesCNBC
•World
World
77% Informative
Virgin Money on Monday increased its new two- and five-year fixed-rate mortgages by 0.2% .
The Bank of England is currently seen cutting rates by 25 basis points in February , though the outlook after that is less clear.
Mortgage lenders had been expected to lower borrowing costs this year alongside an easing of interest rates.
Concerns over the country's economic outlook have contributed to a sell-off in U.K. government bonds, also known as gilts.
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