Fixed-rate mortgages available at under 10%

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The Independent Online
THE Firstdirect five-year fixed loan at 9.99 per cent requires a pounds 150 arrangement fee and buildings insurance taken out with the bank.

Abbey National still has fixed rates for first-time buyers at 8.99 per cent for those with at least 10 per cent as a deposit, and 9.45 per cent for those with 5 per cent. The fix runs until November 1993. Both offer free unemployment cover for a year. The fee is pounds 75. Other buyers can get a fix at 9.99 per cent until November 1995 with a fee of pounds 195.

Leeds Permanent has a three-year fix at 9.85 per cent with a pounds 250 application fee. Buyers have to take up at least two insurances, choosing from buildings, contents and payments protection.

Among the variables, Halifax is still offering the best buy, with a 1.7 per cent first-year discount for first-time buyers, and overall large loan discounts.

----------------------------------------------------------------------- SIX OF THE BEST Savings ----------------------------------------------------------------------- *0 *25 *40 Type Account Term percent percent percent Min ----------------------------------------------------------------------- GIB Alico 1 year 8.7 8.7 7.40 pounds 50,000 ----------------------------------------------------------------------- Bristol B Soc & West BS Instant 10.90 8.18 6.54 pounds 25,000 ----------------------------------------------------------------------- Tessa Exeter Bank 5 yrs 11.46 11.46 11.46 pounds 100 -----------------------------------------------------------------------

August* Compounded annual rate except for GIB - guaranteed income bond ----------------------------------------------------------------------- Source: Chase De Vere 071-404 5766 ----------------------------------------------------------------------- MORTGAGES ----------------------------------------------------------------------- Type Source Deal ----------------------------------------------------------------------- Variable Halifax BS 8.5% inc 1st-time buyers' discount Fixed Firstdirect 9.99% for five years Capped Lambeth 9.9% to 31 May 1995 ----------------------------------------------------------------------- Source: John Charcol 071-589 2626 -----------------------------------------------------------------------

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