RBS offers three-year 7.99% cap

ROYAL Bank of Scotland has a three-year mortgage capped at its current variable rate of 7.99 per cent. The administration fee is pounds 295, cut to pounds 245 if life cover is arranged through the bank. Early redemption will incur a charge of three months' interest. The maximum loan is 90 per cent of the property value.

Laurentian Life has a 6.99 per cent fix for 60 per cent advances, fixed until January 1996. The rate for 90 per cent rises to 7.69 per cent.

Abbey National will contribute pounds 200 towards legal costs to customers who remortgage or switch their mortgage to Abbey. A free mortgage valuation is also offered.

Citibank's 9.99 per cent capped rate mortgage is available for an arrangement fee of pounds 295. The current variable rate is 7.99 per cent. The cap lasts until January 1998.

----------------------------------------------------------------- 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 -----------------------------------------------------------------