Post Office reduces mortgage rates

Nia Williams

June 7, 2013

Its two-year fixed rates start at 3.19% and come without an arrangement fee. There’s also good news for second-time buyers and those looking to remortgage with a new fixed rate deal at 1.70% (£1,995 fee) at 60% LTV for two years.

The new rates include:

 Two year fixed rate (no fee) at 3.19% (80% LTV)

 Two year fixed rate (no fee) at 3.49% (85% LTV)

 Five year fixed rate (£995 fee) at 2.85% (75% LTV)

 Two year fixed rate (£1,995 fee) at 1.70% (60% LTV)

 Five year fixed rate (£995 fee) at 3.69% (85% LTV)

John Willcock, head of Post Office mortgages, said: “The rates on many of our products have been significantly reduced, while some are also fee-free. Buyers are hungry for a good deal and our new rates offer some of the most competitive in the market.

“The diversity of our range means whether you’re hunting for your first ever home or looking to move, there is something suitable for your needs. We put our customers first and want to offer the best range possible to help them buy their home in the way that suits them best.

“Our two-year fixed-rate mortgage at 3.49% (85% LTV) comes without an arrangement fee and is ideal for those borrowers who are looking for a mortgage with a smaller deposit. Saving up the money for a deposit can sometimes seem like a real struggle so every effort must be made to keep initial costs at a low.”

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