The Society will offer borrowers a fixed rate of 4.99% regardless of whether they choose a term of 2, 3 or 5 years and, for a limited time only, all the Society’s fixed rate mortgages are available with no Higher Lending Charge on loans up to 95% loan-to-value (LTV).
Summary of changes:
* Two-year fixed rate – 4.99% (arrangement fee £499)
* Three-year fixed rate – 4.99% (arrangement fee £599)
* Five-year fixed rate – 4.99% (arrangement fee £699)
* No Higher Lending Charge on all fixed rate products
Commenting on the changes, group development director Matthew Wyles, said: “The decision by the Monetary Policy Committee to raise interest rates has created even more of a challenge for first-time buyers. Portman is seeking to help this sector of the market by launching a range of highly competitive products in which borrowers can choose their term and, for a limited time only, these products are offered with no higher lending charge.”
