100% mortgage range from Portman

Portman Building Society is making a number of changes to its 100% mortgage range – all the changes have been available from Saturday 25 November 2006.

The interest rate on the Society’s highly competitive two, three and five-year products have been reduced, and the range is now available for both purchase and remortgage.

Summary of changes:
- Two-year 100% fixed rate – 5.69%
- Three-year 100% fixed rate – 5.63%
- Five-year 100% fixed rate – 5.59%
- All 100% mortgage products have booking fees of £299

Commenting on the changes, Portman’s Group Development Director, Matthew Wyles said: “Portman entered the 100% market last year with a range of products available for purchase only, these deals were well received by both consumers and intermediaries. Our research shows that there is also a growing need for 100% remortgages.

Instead of just helping first time buyers with these loans, the 100% remortgage product means we can now help people coming out of divorce who, as a result, may have a limited amount of equity.”