Portman Building society fixed-rate mortgage range introduced

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Portman Building society fixed-rate mortgage range introduced

The new Portman Building society fixed-rate mortgage range has been launched, aimed at catering for the first-time-buyer market.

Released today, the three new products are the Portman five-year fixed-rate mortgage, the three-year and two-year fixed-rate products. Rates on these new mortgages range from 5.99 per cent to 6.19 per cent.

All of these mortgages require no arrangement fee and offer a free valuation for first-time-buyers attempting to gain a foothold onto the house ownership ladder.

Matthew Wyles, group development director of Portman, said: "Many first time buyers are feeling a rising sense of urgency as they watch property prices going up much faster than their earnings.

"Our 100 per cent mortgage product is designed to accelerate a first time buyer's entry into the market."

He went on to state that in view of the high cost of purchasing a property, it would be unfair to expect first-time-buyers to shell out more money on things such as arrangement fees.

Portman is currently the third largest building society in the UK and serves approximately 1.8 million customers.

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