Applicant took out a mortgage one year ago with lender and decided to opt for a three year fixed rate (3.49%). One year later the applicant decided to move house. He would have been expected to pay a penalty for early redemption. Due to interest rate hikes the applicant approached us with aview to reviewing the penalty position and we considered the option of asking the lender to continue to provide the low rate on anew home. Lender offered him a portable loan whereby the guaranteed the original rate he was offered for the remaining two years at 3.49%. The current 3 year fixed is 4.69%!!. He was delighted with this option.