Personal Finance: Bargain Basement

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Indy Lifestyle Online
Alliance & Leicester is offering a discounted mortgage which no longer charges a repayment fee if borrowers want to make early repayments.

Interest is 1.25 per cent less than the standard variable rate, currently 8.45 per cent, until 1 November 2000. Customers can borrow up to 95 per cent of the value of the house. Call 0800 412214.

Bank of Ireland is claiming to offer the best two-year fixed-rate mortgage on the market. For loans up to 90 per cent of the house value the rate is 4.99 per cent until 1 November 1999. Five-year fixed rates are at 5.49 per cent until 1 June 2002. Call 0118 951 0100.

Woolwich is offering a five-year fixed rate at 6.99 per cent until November 2002. Charges include an application fee of pounds 350 and Woolwich Homewise Insurance must be taken. Call 0181 298 5000.

Legal & General has slashed charges on a new corporate bond PEP to 0.5 per cent. The PEP will pay a yield of 7.5 per cent tax-free. There are no initial charges and no exit fees. Call 01737 370370.

Exeter Fund Managers has launched a new pension where administration charges are halved once the fund is worth pounds 15,000 and payments have been kept up for five years. Administration costs pounds 50 in the first five years. Fund management charge is up to 1.5 per cent of the fund every year. Call 0800 731 2617.

Medical Insurance Agency is offering cheap student cover for personal possessions. It claims it undercuts Endsleigh, the market leader, for 75 per cent of students. In London, cover of pounds 2,000 costs pounds 57, pounds 10 less than its rival. But in Nottingham, the same cover is pounds 69, pounds 6 more. Call 01438 340011.

Sun Life Assurance is offering a free 32-page booklet called Better Money Management for Education Purposes, with answers to typical questions on schooling. Call 0117 989 9030 Monday to Friday 8am-8pm.

Marks & Spencer Financial Services is launching its fifth Guaranteed Capital Investment Plan, investing in its UK 100 Companies Fund. Minimum investment is pounds 3,000. Call 0800 363 432.

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