Halifax discounts

HALIFAX has relaunched its mortgage range, introducing discounts of up to 3.5 per cent on its variable rate. First-time buyers seeking a 60 per cent loan of pounds 100,000 would now pay a post- discount rate of 4.49 per cent - its best rate in nearly 40 years. Other discounts are available.

BNP Mortgages is offering a two-point discount for one year to first-timers on its 7.85 per cent variable rate. Borrowers will then be offered a fixed rate.

Barclays is offering a 9.75 per cent fixed rate for 20 or 25 years. The penalty for early redemption is seven months' interest.

----------------------------------------------------------------- SIX OF THE BEST ----------------------------------------------------------------- Mortgages Type Source Deal Variable Northern Rock 4.98% discounted rate on 75% loans Fixed Nat West 8.99% for 10 years on 95% loans Capped Citibank 9.99% cap on 5-year 85% loans ----------------------------------------------------------------- Source: John Charcol 071-611 7000 -----------------------------------------------------------------