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Portman adds three discounts in revamp

Portman Building Society is revamping its mortgage range and adding three


The loans in the revised range include a long-term discount, a two-year

successor discount and a discount with no fees.

The long-term discount mortgage offers a 0.5 per cent discount on the

standard variable rate of 7.49 per cent until June 1, 2005.

The successor discount offers a 1.5 per cent discount on the SVR until

June 1, 2002 and is capped at 6.99 per cent. Borrowers can then move on to

another Portman mortgage.

The discount with no fees mortgage does not impose penalties for

acceptance or early repayment. The discount is 1 per cent until June 1,


Three new products available exclusively through the society&#39s 115

branches are a base-rate tracker, a rapid remortgage and a two-year fix at

5.99 per cent until June 1, 2002.


Make pensions a priority

Pensions represent one of the biggest sectors from which IFAs can sourcenew business. This is due to a combination of factors but the opp-ortunities stem mainly from a problem of a shrinking tax base. The UK, likeother countries in Europe, has an ageing population and statistics suggestthe state will find it more difficult, and eventually […]

Chelsea scoffs at takeover bid

Chelsea Building Society has rejected a takeover proposal from the internet service provider Totalise.The UK&#39s eighth largest building society has condemned the “blatant opportunism” that motivated the offer.Chelsea has assets worth about £5bn, whereas Totalise, only eight months in existence, had a turnover of £61,000 and lost nearly £1m in is first half year.Totalise chief […]

Tech stocks place Euro funds at top of rankings

European funds overweight in technology stocks are the top performers inStandard and Poor&#39s fund rankings.Funds such as Invesco&#39s GT Europe growth fund, which has about 75 per centinvested in telecoms, media and technology stocks, performed exceptionallywell in the final quarter but suffered a downturn in the last few weeks dueto volatility. Funds which did not […]

Standard defends fall in loan market share

Standard Life Bank is hitting back at criticism that its share of the mortgage market has slumped during a time of staff upheaval.Standard Life took a 17 per cent share of the mortgage market last springbut the bank&#39s share now stands at 9 per cent.The fall comes just months after former managing director Jim Spowart […]


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