Wide range of fixed rates on offer

FIRST Mortgage Securities has a range of fixed rates ranging from 3.75 per cent for under one year to 7.85 per cent for nearly five years.

These rates are for repayment loans. Endowment mortgages cost an extra 0.25 per cent and interest-only loans an extra 0.5 per cent.

There is a fee of pounds 275, and the maximum loan is 75 per cent of the property value.

Bank of Scotland's central lending arm, The Mortgage Business, has a fix that runs to March 2000 at 8.25 per cent. It has a pounds 245 fee and six-month redemption penalty.

Halifax Building Society has increased the discounts on variable rate loans. The variable rate is at present 7.64 per cent.

Buyers can choose between a 3.65 per cent discount for one year, 2.15 per cent for two years or 1.65 per cent for three years.

Bristol & West has a two-year capped rate at 5.9 per cent. It has a pounds 275 fee and three month redemption penalty.

Royal Bank of Scotland has capped rates at 6.99 per cent for two years, 8.69 per cent for three years and 8.99 per cent for five years. These can be taken out for 100 per cent of the property value.