Portman Building Society reviews mortgage products

Portman Building Society is making a number of important changes to its mortgage range.

They follow the decision by the Monetary Policy Committee to increase the Bank of England Base Rate by 0.25% to 5.25%. All current new business fixed rate products have been repriced and are available from Tuesday 16 January 2007.

Key product changes:

Two-year fixed – 2.95% (arrangement fee £549)
Two-year fixed – 4.83% - WITHDRAWN
Two-year fixed – 5.34% (arrangement fee £499)
Two-year fixed – 5.55% (arrangement fee £499)
Two-year fixed – 5.99% (no fee)

Three-year fixed – 5.39% (arrangement fee £599)
Three-year fixed – 5.55% (no fee)
Three-year fixed – 5.55% (arrangement fee £499)
Three-year fixed – 5.79% (no fee)

Five-year fixed – 5.39% (arrangement fee £599)
Five-year fixed – 5.55% (no fee)
Five-year fixed – 5.55% (arrangement fee £499)
Five-year fixed – 5.59% (no fee)

Two-year BBR tracker – 5.19% (arrangement fee £299)
Two-year BBR tracker – 5.25% (arrangement fee £499)
Two-year flexible tracker – 5.79% (arrangement fee £499)

100% LTV Two-year fixed – 5.99% (arrangement fee £299)
100% LTV Three-year fixed – 5.99% (arrangement fee £299)
100% LTV Five-year fixed – 5.89% (arrangement fee £299)

All end dates extended to last calendar day of February.

The Society will also increase its Standard Variable Rate by 0.25% to 7.24%. The new rate is effective from 16 January 2007 for new business and from 1 February 2007 for existing business.