Money: Shop around for the best mortgage fixes

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The Independent Online
New lower variable interest rates are being set at 7.64 or 7.74 per cent. Fixed rates are also being cut.

Nationwide has trimmed the rate on its five-year fix from 7.75 to 7.25 per cent. It also has a 10-year rate at 8.5 per cent for borrowers with a deposit of at least 15 per cent, and 8.75 per cent for those with a deposit between 5 and 15 per cent.

Yorkshire Building Society's five-year loan for those with a minimum deposit of 10 per cent is fixed at 7.15 per cent. There is no compulsory insurance.

Midland and NatWest five-year fixes are at 7.25 per cent. There is a non-refundable arrangement fee of pounds 250 at both banks.

Alliance & Leicester has a three- year, 6.75 per cent fixed-rate remortgage package for those who cannot afford the up-front fees. A minimum deposit of 10 per cent is needed.

There is no arrangement fee, and the society will pay pounds 260 towards the costs of remortgaging plus up to pounds 440 for the valuer's fees.

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