Portman offers two year fixed rate at 4.25 per cent

The mortgage is available through intermediary and branch business and offers a highly competitive rate with no extended redemption penalties.

Product details:

- 4.25% fixed until 01.12.05

- £300 Acceptance Fee

- No mortgage risk fee up to 90%

- Repayment Fee - 3% of capital repaid until 1 December 2005

- Facility to make part repayments up to 10% of the original loan amount borrowed without incurring any Repayment Fees, for each full twelve month period from completion of the loan until 1 December 2005.

Portman Press Officer Lynsey Hallam said, "Fixed rate mortgages have become a popular choice for borrowers after the recent base rate rise, and we have seen a significant take-up of mortgages in this sector of the market. This is a best buy product that allows the borrower to budget, safe in the knowledge that their repayments will not change even if interest rates continue to creep up."