Portman fixed-rate mortgages are reduced
www.moneynews.co.uk > Mortgages > Portman fixed-rate mortgages are reduced
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Portman fixed-rate mortgages are reduced
Mon 2nd Oct 2006
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The arrangement fee has been scrapped for a five-year fixed-rate mortgage and has been reduced to £499 for a two-year fixed-rate mortgage.
Additionally, a Portman fixed-rate mortgage over two years has seen a decrease in the interest rate from 4.89 per cent to 4.75 per cent, in a move hailed by Matthew Wyles, the Portman Group's development director.
Speaking of the new product portfolio Mr Wyles said: "The launch of a five-year fixed-rate below five per cent is an extremely attractive mortgage deal for borrowers looking to budget over the longer term."
Mr Wyles then added: "We now have a very strong set of products in the two, three and five-year fixed-rate mortgage market."
The Bank of England recently raised interest rates to 4.75 per cent in a move that some analysts insist will cool the housing market.
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