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Portman fixes for three years and caps for five

Portman Building Society is introducing a new range of mortgages which it says are designed for borrowers wanting to take advantage of the continued low interest rate environment.

New products with a maximum LTV of 95 per cent are a three-year fixed mortgage with a rate of 4.14 per cent and a five-year product capped at 4.79 per cent. Portman&#39s standard variable rate is currently 5.65 per cent.

On the five-year capped mortgage there is a fees-free option which gives it a rate of 4.99 per cent but does not have the standard acceptance fee of £300. It offers a free valuation up to a maximum of £210 and £250 cashback.

Group communications manager Helen Shaw says: “Our latest mortgage range is intended to meet differing needs.Our rates which combine the benefit of fees-free or easy remortgage give the borrower extra choice.”


Clerical Medical – Futureproof Invested Annuity

Tuesday, 19 November 2002 Type: Investment linked annuity Minimum investment: Lump sum £25,000 Minimum age: 50 Income frequency: Monthly, quarterly, half-yearly, annually Charges: Annual 1% Options: Can be converted to secure annuity and anticipated growth rate can be changed on policy anniversary Commission: Initial 1% Contact:

Household name set to crash soon, says FSA&#39s Kenmir

A “household name” financial firm will fail in the next year or two, according to FSA head of investment firms David Kenmir.His comments came at the Eye to Eye conference held at Gleneagles golf course and conference centre in Scotland.Responding to questions on Equitable Life, Kenmir is reported to have told a packed room of […]

Norwich union continues to prosper

Norwich Union has established the second issue of the Prosper income bond, which is a guaranteed equity bond with a four-year term.The bond is linked to the performance of the Dow Jones Eurostoxx 50 index and provides a choice between annual income of 6.25 per cent net, monthly income of 0.51 per cent net or […]

FSA strikes off IFA firm

The FSA has struck off IFA Tudor House Financial Services of 34 Chester Street, Wrexham, Clywd, removing its permission to carry out any regulated activity with immediate effect.The firm failed to comply with five Ombudsman Awards, three by the PIA Ombudsman and two by the Financial Ombudsman Service dating back to September 2001.The ruling says […]


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