Post Office cuts mortgage rates

The Post Office has announced rate cuts to its full range of fixed rate mortgages which it said reflected its ongoing ambition to become a leading player in the mortgage market.

The Post Office is offering a two-year fixed rate at 4.15 per cent and 80 per cent LTV, a three-year fixed rate at 4.09 per cent at 60 per cent LTV and a five year fixed rate at 4.89 per cent.

This includes a cut of one per cent to its five year 80 per cent loan to value mortgage.

Post Office director of personal lending, Marco Hughes, said: "We believe in offering great rates not only for the initial period but across the life of the mortgage.

With speculation mounting that the base rate will move up in the next few months these new rates give our customers a fantastic opportunity to lock in a deal now."