LOOSE CHANGE

Yorkshire Building Society has launched a one-year Mutual Interest term account paying 6.25 per cent a year gross interest and targeted directly at investors in National & Provincial, which disappears into Abbey National on Monday morning. The Yorkshire will take cash, but it will also let investors sell Abbey National shares free of charge and reinvest the proceeds in the new account. Cash in the new account is locked in for a year but the 6.25 per cent rate is guaranteed for the rest of the year.

FirstMortgage Direct has launched a variable rate mortgage at 5.95 per cent with no fees and no redemption penalties, undercutting both the market leaders, Direct Line and Bradford & Bingley Direct. Call free on 0800- 080088 five days a week.

Skipton Building Society's new three year discount mortgage offers a 3 per cent discount in year one, 2 per cent in year two and 1 per cent in year three below the standard variable rate, currently 6.84 per cent. There are no fees, unemployment insurance is free, only one insurance is compulsory and the loan can be transferred to a new property within the first five years without penalty. Call Freephone 0800-603010.

General Accident Life is offering a fixed-rate mortgage at 6.75 per cent guaranteed until January 2000. First-time buyers can borrow up to 95 per cent of valuation and add the pounds 195 completion fee, valuation fee and mortgage indemnity premium to the loan. The early redemption penalty is six months' interest on loans redeemed before January 2001. Call freephone 0500-100200.

Black Horse Financial Services offers three new bonds, combining high returns, a link to stock market performance and a measure of capital protection. The Premier Lock-in offers return of capital over six years and 100 per cent of any growth in the FT-SE 100 share index, with any gain of 25 per cent locked in. The Premier Optimum Bond offers 140 per cent of any rise in the FT-SE, and 90 per cent of capital back if the index has fallen. The Triple Bonus Bond offers capital returned in full plus a 30 per cent fixed return and 10 per cent of any FT-SE uplift.

Going Places, the largest foreign currency sales network with 700 outlets, is offering 10 free leaflets covering each of the main holiday destinations, combining information and advice on what to take and when and where to change it.

Privilege Insurance, the direct motor insurer is launching Fleetmaster, a policy designed for smaller company car fleets of up to 20 vehicles.