Hi there,

Around two years ago I took out a Mortgage with the Portman. It's now been taken over by the Nationwide.

I have an initial reduced rate deal, rising after two years, with termination penalties for 5 years.

Is there any chance I can terminate the agreement without incurring any penalty on the basis the organisation with whom I had the contract now no longer exists.

You need to talk to the Nationwide.
They have a specific set up help line for ex-Portman Peeps.
Mel.

probably not as in the mortgage offer they usually provide for mortgages to be tranferred to another company with the same terms.