UK Post Office launches new mortgage deals
The Post Office has expanded its range of mortgages for its UK customers. The company has added to its portfolio with the addition of two-year trackers, fee-saver deals, and two-year fixed rates for buy to let.
Existing fixed rates have been reduced by up to 0.34%, and some of the best rates on offer are:
– Two year fixed ‘fee-free’ rate* at 4.25% (80% LTV)
– Two year fixed rate at 2.79% (65% LTV)
– Three year fixed rates at 3.35% (65% LTV) and 5.69% (90% LTV)
– Five year fixed rate at 4.95% (85% LTV)
– Two year tracker at 4.69% (90% LTV)
Post Office director of personal lending, Marco Hughes, said: “We are committed to helping as many borrowers as possible find an affordable mortgage that meets their needs.
“According to the FSA statistics, 37% of borrowers are on a rate of 4.5% or more, and are put off switching due to the perceived high costs involved. Our new ‘fee saver’ two year fixed deals should particularly help borrowers looking to remortgage, whilst for first time buyers with a 15% deposit, it significantly reduces the overall cost of buying a house.”
“Many of our mortgage deals are currently Best Buys, reflecting our promise to offer competitive market leading rates. As we continue to expand the range of mortgages on offer, we stand by our values of providing transparent fees and giving long term value for the life of the mortgage.”
