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Kent Reliance building society is planning to launch an interest-only mortgage this summer. The mutual, which has been providing this type of deal only on a case-by-case basis, last week confirmed it was looking to join the mainstream market.

Aaron Strutt of Trinity Financial, the broker, said: "With the interest-only market being so volatile, it makes sense to lock into one of the cheap long-term, five-year, fixed rates "or you face being unable to stay on interest-only once your deal comes to an end."

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June 9, 2013
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