Personal finance: Bargain Basement

BRITANNIA BUILDING Society is offering a choice of two-year fixed- rate mortgages, with the option of no extended penalties for repaying the loan back. A two-year deal with six-month interest penalties for redemption within the first five years has a rate of 5.5 per cent on a loan-to-value (LTV) of 95 per cent, 5.3 per cent for LTVs of 75 per cent. Alternatively, a two-year deal with the same redemption penalties but within the fixed time limit would cost 7.04 per cent on an LTV of 75 per cent, 7.24 per cent for a 95 per cent LTV. Call 0800 526350.

ABBEY NATIONAL is increasing the rates paid into the Safeway Direct Savings Account. Investments of pounds 2,500 or more into the account will receive 7.55 per cent gross. Call 0800 995995.

THE BANK of Scotland is offering a new range of one- and two-year fixed- rate bonds. The one-year bond pays 7.4 per cent gross, while the two-year bond pays 7.2 per cent gross. Both have a minimum investment of pounds 3,000. Call 0500 313111.

THE INVESTMENT trust manager Flemings is waiving the brokers fee of pounds 12.50 to investors who wish to sell UK-listed telecommunications shares and then invest the proceeds in one of the company's PEPs or share plans. Call 0500 500161.