Abbey's moving discount

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ABBEY National is launching a discount package for people moving house. It is offering up to 2.25 per cent off its 7.74 per cent variable rate for people borrowing less than 60 per cent of the purchase price or valuation.

For those borrowing less than 90 per cent, the discount, which applies till July 1995, is 1.15 per cent. In addition, there is a further 0.1 per cent discount for people borrowing more than pounds 60,000.

Cheshire Building Society has a fixed rate of 6.75 per cent until the end of March 1998. It is available on loans of up to 90 per cent of property value, or 75 per cent of remortgages.

Mortgage Business, part of Bank of Scotland, has launched a two-year fixed mortgage at 6.49 per cent.

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