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Portman launches fixed rate product

Portman Building Society is launching a new fixed rate product set at 3.99 per cent until November 2002.

It says the move comes as speculation increases that interest rates may rise again in coming months.

The product has a maximum LTV of 95 per cent and will be available for purchase or remortgage.

After the fixed period ends, the rate will be the Bank of England&#39s base rate plus 1.90 per cent or Portman&#39s standard variable rate, whichever is lower.

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