Fixed-rate mortgages raised

Nationwide Building Society is raising the cost of its two-year fixed-rate mortgages for both first-time buyers and all other borrowers.

First-time buyers will now pay 5.85 per cent, up from 5.25 per cent. All other borrowers will now pay 5.99 per cent - up from 5.5 per cent.

TSB is offering a 10-year fixed rate at 7.89 per cent and is offering portability for all future fixed or capped mortgages. Two-year fixed rates are available at 5.75 per cent. TSB building and home contents insurance is required.

Britannia has a new range of discounts to rival Northern Rock. For loans over pounds 40,000, the discounts run to February 1995. The maximum for loans of 75 per cent of property value is a 4.3 per cent discount, bringing the rate to 3.45 per cent.