Rates cut on Portman’s products

Two mortgages in the fixed rate portfolio are said to offer market-leading rates and all the products across the range are available for purchase and remortgage.

The end dates on all the products have also been extended to 31 January.

The first deal is a two-year fixed at 2.39 per cent until 31 January 2007 with up to 95 per cent LTV and Bank Base Rate plus 1.99 per cent from end of fixed term for the remaining mortgage term.

There is no mortgage risk fee up to 90 per cent, a £599 acceptance fee and a facility to make part repayments of up to 5 per cent of the loan amount borrowed without incurring any repayment fees for each full 12-month period from the completion of the loan until 31 January 2011.

The second deal is also a two-year fixed at 4.69 per cent up to 95 per cent LTV. The difference being a £399 acceptance fee and the facility to make part repayments of up to 10 per cent of loan borrowed without incurring the repayment fees for each full 12-month period from the completion of the loan until 31 January 2007.

Helen Shaw, group communications manager at Portman, said: “It is clear from mortgage speculation that interest rates are approaching their peak and we are starting to see some attractive deals seeping back into the market.”

Rod Murdison, proprietor of Murdison & Browning, said: “Portman products tend to come in waves, they go quiet for a while then all of a sudden burst onto the scene with generally good deals. These are very competitive.”