Midland gives free transfers

MIDLAND BANK is offering borrowers with other lenders a free transfer until the end of January - worth about pounds 300 on a mortgage of pounds 40,000.

Midland also has a large advance rate of 7.59 per cent for new endowment and pension mortgages of pounds 100,000 and over. The rate is guaranteed to be always at least 0.25 per cent lower than the bank's standard variable rate.

National & Provincial Building Society is offering one-year discounts of 2.04 per cent to new borrowers - a rate of 5.95 per cent - and pounds 150 towards the cost of swapping lenders to those remortgaging.

National Westminster is giving one-year discounts on its variable rate of 7.99 per cent on applications before the end of January.

Halifax Building Society has a new fixed-rate range including stepped loans.