UK Post Office cuts mortgage rates
The UK Post Office has cut rates across its fixed rates, trackers, and buy-to-let mortgages. The rate changes will take effect immediately and coincide with the launch of a new 65% LTV deal with a direct Best Buy rate of 2.85%.
The fixed rate cuts apply on all ranges up to 85% LTV across two, three and five year options. Lifetime trackers are reduced at 80%, 85%, and 90% LTV. The reductions further consolidate Best Buy table positioning. Examples of the best rates on offer include:
- Two year fixed rate at 3.94% (85% LTV)
- Three year fixed rate at 4.69% (85% LTV)
- New buy to let lifetime tracker at 4.99% (75% LTV)
Post Office director of personal lending, Marco Hughes, said: “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% 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% LTV deal and the recent launch of the 90% LTV range gives customers, including first time buyers increased choice and great value.”
In addition to the new buy to let lifetime tracker, rates have also been cut across the three year and five year fixed options, by 0.64% and 0.60% respectively.
