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Portman lifts anti-carpetbagging measure

Portman Building Society is lifting a post code restriction it put on the opening of new accounts earlier this year because the threat from carpetbaggers has eased.


The lender put the restriction in place the day after the Nationwide ballot because of the closeness of the vote.


It now says that there is little evidence of increased carpet bagging activity.


It is also launching a new one-year fixed interest bond which will be open to savers across the country. The bond pays 7.25 per cent gross per annum from only £500, although postal applications require a minimum of £1000.

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