View more on these topics

Portman fix its sights low

Portman Building Society has brought in the 3.99 per cent fixed rate mortgage.

The mortgage has a fixed rate of 3.99 per cent for loans of up to a maximum of 95 per cent of valuation for the first two years of the mortgage. After this period it reverts to the standard variable rate, which is currently 7.49 per cent.

It has extended redemption penalties of five per cent of the advance for the first five years of the loan and an administration charge of £400.

It is also the seventh most competitive two-year fixed-rate mortgage on the market. According to Moneyfacts on December 14, 2000 the cheapest mortgage on the market is the 3.49 per cent mortgage from The Mortgage Operation (TMO) which has a fixed rate of 3.49 for loans up to a maximum of 90 per cent and an administration charge of £595.

Comparing the two mortgages, they both contain elements that the customer should be aware of. On the one hand the TMO mortgage has a better fixed rate and lower extended redemption penalties of one per cent of the advance for the first five years of the loan. On the other, the TMO mortgage has a maximum valuation of 90 per cent of valuation, which will make it less attractive to first time buyers, as well as a higher administration charge.


The £90bn phone bill

What a difference a year makes. As the new millennium approached, growing optimism for future demand for mobile internet access and email, combined with a glut of corporate activity, led to a furious buying frenzy and spiralling returns for mobile telecoms shareholders. Fuelled by the rapid acceleration of mobile phone usage and growing excitement over […]

Arbuthnot fund managers launches growth portfolio

Arbuthnot Fund Managers has launched a new International Growth Portfolio aimed at achieving above average growth in the medium to long term through investment in managed funds. The new fund offers three per cent commission and 0.5 per cent per annum renewal, with an extra 0.5 per cent initial commission on portfolios opened before December […]

Matrimonial rites

Over the last few weeks, we have been examining and detailing the workings of the newly introduced pension-sharing orders in divorce proceedings. A number of financial services commentators and journalists seem to assume that these sharing orders will become the only method of dividing the value of pension rights, totally ignoring the likelihood that the […]

IFAs beat tied agents on persistency levels

Customers who buy pensions and insurance policies through IFAs are more likely to continue contributing to them, according to the latest FSA persistency report. Compared with policies sold through tied agents, IFA-sold contracts maintain grea ter continuing contribution levels, causing industry exp erts to question why the FSA is preparing to change the current polarisation […]

The Great British Break-Off

Despite predictions that a vote to leave the European Union would result in an economic apocalypse, UK equities have shown the market equivalent of a stiff upper lip: bouncing back, keeping calm, and carrying on. Although the road towards Brexit remains clouded in uncertainty, UK equities offer a range of opportunities to investors seeking returns […]


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