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Portman ditches early penalties

Portman Building Society is offering a range of discounted, fixed, capped

and tracker mortgages with no early redemption penalties.

The portfolio includes a mortgage featuring a 1.5 per cent discount on the

standard variable rate for two years and capped at 6.99 per cent until

August 2002.

There is no valuation fee and a maximum loan to valuation of 95 per cent.

The range also includes a two-year successor mortgage offering a fixed

rate of 5.99 per cent until August 2002.

At the end of the fixed or discount period, borrowers with either type of

loan will be offered the choice of one of Portman&#39s products available at

the time.

In addition, Portman is offering a base-rate tracker product, a three-year

discount no-fees mortgage and a five-year discount loan.

Corporate communications manager Mike Dobson says: “With discounted, fixed

and capped-rate products available, along with a base-rate tracker, this

new range provides homebuyers with plenty of choice.”


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