Post Office lunches intermediary range
The range is available initially through the Legal and General Mortgage Club Appointed Representatives, and will cater to the needs of first-time buyers or those looking to move.
Rates start from 1.98% for a 2-year fixed and from 3.15% for a 5-year fixed, both carrying a £995 fee and available to 75% LTV.
For those looking to remortgage, the Post Office will offer a 2-year fixed at 2.58% or a 5-year fixed at 3.38% both of which come without product arrangement or value fee and will have legal fees paid by the lender.
First-time buyers will also benefit from this new range with a higher LTV offering of a 3.79% 2-year fixed up to 90% LTV with a fee of £495.
Longer term rates at 4.55% for a 3-year fixed and 4.95% for a 5 year fixed are also available both without product or valuation fees.
Buy to let products will also feature with a 2-year fixed from 3.15% with LTVs of 60% and 75%. All product details can be found at www.postoffice4intermediaries.co.uk (from 10am on 2nd June).
John Willcock, head of mortgages at Post Office, said: “Buying a house is a big decision, and we recognise the importance of offering customers a choice in how they do this.
“Post Office’s competitive mortgages can be accessed through a number of channels, be it online, in branch or through a broker. We are continuing our journey of becoming one of the top ten providers of mortgages in the market by offering a great range of deals for potential homebuyers, whatever their situation.”
Alison Pallett, mortgage product director at Bank of Ireland, added: “This new product range launching on Monday 2 June demonstrates our intention to be a serious contender in the mortgage market. We’re working hard to build a strong product proposition backed by our reliable and consistent online service offering.”
Jeremy Duncombe, director, Legal & General Mortgage Club, said: “It is great to see this exclusive distribution agreement launch with a range of excellent products. It is a broad range, covering purchase, remortgage, first-time buyer and Buy to Let and all offer great flexibility to the customer.
“The products are very competitive, and we expect them to create good demand from our members.”