Portman adjusts fixed rates

The Portman Building Society has announced that it is re-pricing its two-year fixed-rate range with new products available from August 11th.

A rate of 4.69 per cent is now available on the lender’s two-year fixed offer when an arrangement fee of £999 is paid.

Fees of £599 and £649 are also available in conjunction with rates of 4.89 and 4.99 per cent respectively.

For customers who opt for a 4.99 per cent deal, free valuation is available as well as £250 cashback. All of the offers have had their end dates extended to August 31st 2006.

Helen Shaw, group communications manager at Portman, said: “Volatility in swap rates has seen many lenders reconsidering their fixed-rate pricing.

“Portman continues to offer a highly competitive mortgage product range and we expect these fixed rates to prove extremely popular following last week’s base rate rise.”

A two-year discount mortgage is available unchanged with Portman, Ms Shaw points out, and is described as “an attractive proposition” for customers who don’t want to commit to a fixed rate.