Long-term twin fixes launched

NATWEST and the Prudential have launched a virtually identical set of long-term fixed mortgages. Each offers a 9.69 per cent rate fixed over 15, 20 or 25 years. Both carry an arrangement fee of pounds 250 and an early redemption penalty of pounds 250.

Nationwide has a three-year fix pegged at 7.75 per cent on 90 per cent advances. Alliance & Leicester gives a series of discounts relating to the loan to value percentage - 70 per cent borrowers will get a 3 per cent discount, bringing their current rate down to 4.99 per cent.

Leeds Permanent has a five-year fix, with the rate depending on the deposit - 8.25 per cent for 80 per cent loans, 8.5 for 90 per cent and 8.95 for 95 per cent. The fee is pounds 250 and the deals are available on repayment loans.