The two-year fix has an LTV of up to 90 per cent, a 1.25 per cent acceptance fee of the loan amount with no higher lending charge and an introduced procuration fee of 0.35 per cent (maximum £1,750). It also has the facility to make part-repayments of up to 10 per cent of the loan amount borrowed without incurring an early repayment charge for each full 12-month period from completion of the loan until 31 March 2008.
Portman has also launched a two-year discounted product at 4.24 per cent with a 2.26 discount until 31 March 2008. It has an LTV up to 95 per cent, an acceptance fee of £499 and no higher lending charge up to 90 per cent. The introduced procuration fee is 0.25 per cent with a maximum of £1,250. Both products are available with immediate effect.
Tracie Pearce, group marketing manager for mortgages at the Portman, said: “We are continuing to keep our intermediary product range well-stocked with a good variety of competitive mortgage deals. We expect both these cracking deals to be very popular with the broker community and I would urge intermediaries to book their clients funds as soon as possible in order to avoid disappointment.”
James Cotton, mortgage specialist at London & Country, said: “Portman is a good quality lender which regularly offers a very competitive range of products. The disappointment for brokers is that its best deals tend to be reserved for direct business only, so this latest move is good news. It will mean a better choice of dealsfor both intermediaries and their clients.”
