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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.”

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