Fixed-rate mortgages flood in

LENDERS are announcing more fixed-rate mortgages today. Halifax has a 'stepped' mortgage, under which, for example, first-time buyers can get a 6.25 per cent fix until November next year, followed by a one-year fix at 6.75 per cent. Maximum advance is 95 per cent and the arrangement fee is pounds 150.

The Royal Bank of Scotland is launching a two-year fixed rate for borrowers without a deposit. The rate is 7.99 per cent and the arrangement fee is pounds 250.

Northern Rock launches its lowest four-year fix, at 6.89 per cent for borrrowers who arrange insurance through the society. The arrangement fee is pounds 275 on a maximum advance of 90 per cent.

Bank of Ireland Mortgages is launching a 4.49 per cent mortgage capped until October 1994 on a maximum advance of 75 per cent. The fee is pounds 260.