View more on these topics

Portman offers fixed, tracker and discount loans

Portman Building Society is rolling out a new range of mortgages this week, offering a choice between discounted, fixed and tracker loans.

The society&#39s three-year stepped discount reduces its 6.99 per cent standard variable rate to 4.49 per cent until May 2002 followed by a 5.49 per cent rate until May 2003. The redemption penalty is 5 per cent until May 2004.

A flexible tracker loan is also available which follows the Bank of England&#39s base rate until May 2003, after which it switches to 0.75 per cent above the bank&#39s base rate for the term of the mortgage.

Portman is also offering a variety of fixed-rate mortgages, including a two-year loan fixed at 3.49 per cent until May 2003 and a five-year mortgage fixed at 5.75 per cent until May 2006.

The redemption penalty for both loans is 5 per cent until May 2006.

All mortgages except the tracker loan allow borrowers to repay between 5 and 10 per cent of the original loan every 12 months for up to four years without charge.

The procuration fee is 0.25 per cent of the loan.

Group communications manager John Gully says: “The new range coupled with our new SVR means that borrowers have access to a range of products starting from 3.49 per cent through our introducer and branch network.”


Limited liability partnerships

14. LIMITED LIABILITY PARTNERSHIPSLast November the Chancellor announced how the government intended to deal with the taxation of Limited Liability Partnerships (LLPs) from 2001/02. This Budget confirms the government&#39s general approach. LLPs have been developed to combine organisational flexibility with the benefits of limited liability, thus providing a modern alternative business structure. This will be […]


One of the advantages of having been in the industry for some time is that you do get to see the results of your labours. Whether this is policies maturing, or people retiring, the experience can often be very rewarding. However, sometimes the maturity of a policy means that there is a claim to be […]

Pensions without frontiers

I am a former UK resident, having now moved abroad. I have substantial pension rights earned in the UK but have no intention of returning to the UK in the future. Would it be possible for me to transfer these benefits into my new employer&#39s scheme? Your question really falls into two parts. First, can […]

Baronsmead VCT3 closes oversubscribed

Baronsmead VCT3, which was launched by Friends Ivory & Sime Private Equity in January, has now closed, oversubscribed at £33m. The board of directors of Baronsmead VCT increased the fund&#39s size by 10 per cent once the original target of £30m had been met.Baronsmead VCT3 chairman Mark Cannon says: “The board welcomes over 2,000 shareholders […]


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