Uncertainty leads to lull

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The Independent Online
UNCERTAINTY over the timing of a possible rise in interest rates has led to a lull in the launch of new savings products.

Meanwhile, those aiming for best instant access rates can get 6.1 per cent gross on savings above pounds 2,500 from Skipton Building Society's High Street account.

Chelsea Building Society's Classic postal account offers 6 per cent gross for the same amount, rising to r savings over pounds 25,000. Nottingham Building Society's Post Direct account offers 5.7 per cent gross, rising to 6.6 per cent on sums above pounds 25,000.

For fixed rate bonds, Confederation Bank offers 8.3 per cent gross on its five-year Investment Certificates. Bristol & West gives 8.25 per cent over five years and 7.5 per cent on three-year bonds. Among accounts paying interest monthly, Alliance & Leicester's Special Edition one-year bond offers 6.35 per cent gross on savings above pounds 15,000.

----------------------------------------------------------------- SIX OF THE BEST ----------------------------------------------------------------- Savings Type Account Term *0% *25% *40% Min GIB Eurolife 5 years 7.60 7.60 6.46 pounds 10,000 B Soc Nottingham Instant 6.60 4.95 3.96 pounds 25,000 Tessa Market Harborough 5 years 7.60 7.60 7.60 pounds 9,000 *Compounded annual rate except for GIB (guaranteed income bond) ----------------------------------------------------------------- Source: Chase De Vere 071-404 5766 -----------------------------------------------------------------

----------------------------------------------------------------- Mortgages ----------------------------------------------------------------- Type Source Deal Variable Northern Rock* 2.49% discounted rate on 90% loans Fixed National & Provincial 8.35% until 1.8.99 om 90% loans fee pounds 250 Capped Royal Bank of Scotland 8.99% for 5 yrs on 95% loans ----------------------------------------------------------------- *Completion fee pounds 225 Source :John Charcol 071-611 7000 -----------------------------------------------------------------

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