Post Office cuts rates and launches new deals ...

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21 April 2016

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By Harvey Jones

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Post Office cuts rates and launches new deals

Post Office Money has launched a number of mortgage deals and reduced rates on many existing deals.

It says the new deals take it to the top of the best-buy tables, particularly for those with smaller deposits.

Highlights include:

90% LTV three-year fixed rate at 2.67% (£1,495 fee).

85% LTV five-year fixed rate at 2.73% (£1,495 fee).

85% LTV two-year fixed rate at 2.23% (no fee) plus free valuation and legals for remortgages.

75% LTV three-year fixed rate at 1.98% (£1,495).

60% LTV two-year fixed rate at 1.48% (£1,995 fee), includes interest-only option.

The range also includes several first-time buyer friendly rates including a Help to Buy 95% LTV two-year fixed deal at a rate of 3.68%, and a 90% LTV three-year fixed deal at 2.99%, both without arrangement fees.

John Willcock, head of Post Office Money Mortgages, said: “Our new market-leading mortgage deals are evidence that we are committed to supporting all buyers – from those looking to purchase their first home through to those taking their second and third steps.

“In particular we know that first-time buyers often need a helping hand, and our great rates at higher LTVs, plus our fee-free options, offer just that.”