Fixed rates return

FIXED-RATE mortgages are again flavour of the week, with lenders offering a range of competitive deals over different periods. While Cheltenham & Gloucester leads the five-year market, Mortgage Services Ltd is offering an attractive two-year fix: 6.49 per cent until April 1995. There is a pounds 250 arrangement fee but no compulsory insurance on the mortgage, which is available for loans of up to 95 per cent of the property value.

At the longer end of the market, Birmingham Midshires offers 8.49 per cent fixed until January 2000. The arrangement fee is pounds 300.