Post Office cuts mortgage rates by up to 0.64%

The Post Office is cutting most of the rates across its range of fixed rate, tracker, and buy to let mortgages with immediate effect today.

Related topics:  Mortgages
Millie Dyson
17th June 2011
Mortgages
It has also expanded its range of fee assisted products, with options including no arrangement fee, a free standard valuation, and free legal work or £300 cashback.

Three of the Post Office's mortgages are now Best Buys:

- Two year fixed rate (fee free) at 4.55% (85% LTV)

- Two year fixed rate (fee assisted) at 4.35% (85% LTV)

- Two year fixed rate buy to let (£1495 fee) at 4.95% (75% LTV)

The rate reductions are also significant for the higher loan to value (LTV) products, which is good news for first time buyers. 

For example:

- Two year fixed rate (£995 fee) cut from 5.75% to 5.39% (90% LTV)

- Two year fixed rate (£995 fee) cut from 4.29% to 4.05% (85% LTV)

- Five year fixed rate (£995 fee) cut from 6.79% to 6.15% (90% LTV)

The Post Office is committed to offering first time buyers, movers, and remortgage customers a wide range of choice and flexibility, with deals from 65% up to 90% LTV, to best suit their needs.

Post Office Head of Mortgages, Mike Cook, said:

"We constantly review our mortgage range to ensure we are offering customers choice and value for money.  We have some very compelling offers for first time buyers and remortgagers, including options from as little as 10 per cent deposit, many with standard valuation and £300 cashback included."
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