New fixed rates offer

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The Independent Online
BIRMINGHAM Midshires has a new range of fixed rates - two years at 5.85 per cent, three years at 6.35 per cent and four years at 6.95 per cent. The fee is pounds 295.

Abbey National has two new sets of fixed rates - one for home movers and a higher rate for those wanting to remortgage without moving.

There are no compulsory insurances and any repayment method can be used. For home-buyers the rates range from 5.25 per cent for one year to 8.49 per cent for eight years; and for remortgaging from 6.93 per cent until June 1996 to 8.99 per cent until June 2002.

BNP has launched a Libor-linked mortgage that starts at 5.75 - a 0.5 per cent discount - for the first six months after completion. The minimum loan is pounds 50,000. Borrowers can switch to a fixed rate at any time.

----------------------------------------------------------------- SIX OF THE BEST ----------------------------------------------------------------- Savings Type Account Term 0% 25% 40% Min GIB London & Manchester 5 years 5.8 5.8 4.93 pounds 2,000 B Soc Northern Rock Instant 6.75 5.06 4.05 pounds 25,000 Tessa Hinkley & Rugby 5 years 7.60 7.60 7.60 pounds 3,000 Compounded annual rate except for GIB (guaranteed income bond) ----------------------------------------------------------------- Source: Chase De Vere 071-404 5766 -----------------------------------------------------------------

----------------------------------------------------------------- Mortgages ----------------------------------------------------------------- Type Source Deal Variable Northern Rock* 2.99% discounted rate on 90% loans Fixed First Mortgage Securities 5.75% 3yrs on 75% loans Capped First Mortgage Securities 5.75% 3yrs on 75% loans ----------------------------------------------------------------- *Arrangement fee of pounds 150. Household insurance through Northern Rock. Source: John Charcol 071-611 7000 -----------------------------------------------------------------

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