Portman launches new fixed rate mortgages

Portman Building Society is launching three new highly competitive fixed rate products, which will be available from Wednesday 14 February 2007.

Summary of changes:

Two-year fixed – 4.84% (arrangement fee 1.5%) **NEW**
Two-year fixed – 5.12% (arrangement fee £999) **NEW**
Three-year fixed – 5.13% (arrangement fee 1.5%) **NEW**

No higher lending charge on all fixed rate products all end dates extended to 31 march.

Commenting on the changes, Matthew Wyles, Group Development Director said: “With the Base Rate now at 5.25% and the financial markets forecasting one or more rate rises this year, these new products represent fantastic value. By increasing the arrangement fee (which can be added to the loan), we have been able to hold the pay rates right down – this gives most borrowers exactly what they want at the moment – the certainty of a fixed rate with low monthly outgoings.”