Portman increases its Standard Variable Rate

Portman is to increase its SVR by 0.24% to 6.99% from November 16, 2006 for new business and from December 1, 2006 for existing business.

The increase reflects the Monetary Policy Committee’s decision to increase the bank base rate by 0.25% to 5.00%.

The society is also reviewing its savings rates and an announcement regarding that product range will be made shortly.