View more on these topics

Portman bring in new fixed rate mortgage

Portman Building Society has brought in the two-year fixed-rate mortgage.

Aimed at first time buyers and existing borrowers looking to remortgage, it has a fixed rate of 3.99 per cent for loans of up to 95 per cent of valuation for the first two years of the loan. After that it reverts to either the company’s standard variable rate or 1.9 per cent above the Bank of England base rate, whichever is the lower.

The income multiples are 3.25 times principal income plus second or 2.75 times joint, which are higher than the industry norm for this type of mortgage, of three times principal income plus second or 2.5 times joint.

The Portman mortgage’s fixed rate of 3.99 per cent is also competitive and will make it the joint second cheapest on the market with the West Bromwich Building Society’s two-year fixed rate mortgage. According to Moneyfacts the cheapest fixed-rate two-year mortgage on the market on October 27, 2000 is the Northern Rock two-year mortgage, which has a fixed rate of 3.49 per cent.



1: What benefits can multi-ties, product ties, white labelling or dep-olarising stakeholder products bring to consumers which the current system fails to deliver?2: How much will any change cost to implement, who will pay for this change and by what method?3: What possible changes to stakeholder and Isas could be made to increase the efficiency […]

We&#39re investing in a summer holiday

We have seen an advertisement in the newspaper about the Holiday Property Bond. We are very interested in the idea and have approached you for advice on it. We part-icularly want to know if it is a timeshare product and also if there are any other similar products that we could consider.The bond you have […]

New Isle of Man base for A&L Intl

Alliance & Leicester International is opening a new corporate headquarters on the Isle of Man.The mortgage bank&#39s new home has its official opening on October 4.The aim is to improve the company&#39s profile both locally and internation-ally. It has been doing business on the island for 10 years.Group managing director Peter McNamara says the Isle […]

Neville James goes for TEP/zero split

Neville James Fund Managers has introduced the Neville James secure capital growth fund.The fund is an open-ended investment company (Oeic) based in the Isle of Man and is aimed at cautious investors who are looking for a low-risk product that will provide capital growth.Secure capital growth will invest in traded endowment policies (TEPs) and zero […]

Value for money in DC pensions

The Pension Policy Institute (PPI)’s recent report “Value for money in DC pensions” tries to identify factors by which people can assess whether their pension offers fair value for money (VFM). Fiona Tait provides an overview of the findings. Positive Outcomes It is extremely hard to assess VFM in a pension. Press activity naturally focuses […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm