Variable rate changes

ANOTHER batch of mortgage lenders have announced new variable rates following the base rate rise. The Mortgage Business put its rate up to 7.99 per cent; Royal Bank of Scotland to 8.09 per cent; NatWest, Midland and Lloyds banks, and Bradford & Bingley, Chelsea and Woolwich building societies move to 8.1 per cent; and Bristol & West, Nottingham, and Yorkshire building societies, to 8.14 per cent.

TMB and Citibank have fixed rates of 6.99 per cent until January 1997. Citibank's includes conveyancing and a refund of valuation fee on mortgages up to 95 per cent.

----------------------------------------------------------------- SIX OF THE BEST ----------------------------------------------------------------- Savings Type Account Term 0% 25% 40% Min GIB General Portfolio 5 years 7.70 7.70 6.55 pounds 50,000 B Soc Northern Rock Instant 6.50 4.88 3.90 pounds 20,000 Tessa Market Harborough 5 years 7.60 7.60 7.60 pounds 9,000 ----------------------------------------------------------------- Source: Chase De Vere 071-4 04 5766 -----------------------------------------------------------------

Mortgages Type Source Deal Variable Alliance & Leicester 6.5% up to 90% loans* Fixed Britannia 8.15% 1.9.99 on 60% loans fee pounds 275 Capped Bristol & West 5.75% for 2 yrs on 90% loans fee pounds 275 ------------------------------------------------------------------------ *1.6% discount for 3 years Source: John Charcol 071-611 7000 -----------------------------------------------------------------