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Post Office slashes rates

The Post Office has cut the rates on a number of products in its mortgage range by up to 0.8 per cent.

The fixed-rate cuts apply on all ranges up to 85 per cent loan-to-value across two, three and five-year options. Lifetime trackers are reduced at 80, 85 and 90 per cent LTV.

The Post Office’s three-year fixed at 80 per cent LTV has seen the biggest reduction, with its rate falling by 0.80 per cent, from 4.75 to 3.95 per cent.

It has also launched a new two-year fixed-rate deal at 65 per cent LTV with a rate of 2.85 per cent.

Director of personal lending Marco Hughes says: “We constantly review our mortgage range to ensure we are offering customers choice and value for money.  Through these latest reductions, customers can benefit from our lowest fixed rate ever, at just 2.85 per cent for two years.

“All Post Office customers benefit from a low revert rate, which provides genuine value, not just for the initial period but throughout the life of the mortgage.  The addition of a 65 per cent LTV deal and the recent launch of the 90 per cent LTV range gives customers, including first time buyers increased choice and great value.”

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