Post Office cuts mortgage rates again

For the second time in the last month the UK Post Office has cut the rates on its fixed and tracker mortgage products. The rate changes will take effect immediately and will coincide with the launch of a new range of 75% loan-to-value (LTV) mortgages.

Following cuts to the range at the end of January, the Post Office has further reduced the rates on its two, three and five year fixed rate deals for 60% loan to value (LTV) and its 80% LTV two year fixed deal.

In addition, it has introduced a range of 75% LTV mortgages, including a tracker with a rate of 3.19%, and two, three, and five year fixed products starting at just 3.89%.

Post Office mortgages manager Alastair Watts said: “With speculation that we could see a rise in the bank base rate soon, we’ve acted early and improved the rates on our fixed rate mortgages.”