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Growth in specialist cheap mortgages

Date: Thu, 26 Jan 2006

A new online specialist cheap mortgage could help improve competition in the home loan industry.

Principality Building Society is planning to launch a new online mortgage application facility that will be completely in the Welsh language. The building society hopes that offering such a service will attract buyers from the lucrative Welsh e-buyers market.

The project has the support of the Welsh Language Board and Alun Pugh, minister for culture, the Welsh language and sport and could play a key role in introducing cheap mortgage deals to a wider sector of the public.

"This website is an innovative resource, which allows people to make one of the biggest commitments of their lives in their language of choice," said Mr Pugh.

Meri Huws, chair of the Welsh Language Board, added: "The process of buying a house can be extremely stressful, so by offering this service, customers can choose which language to do their business and will feel more confident and relaxed about it."


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