Post Office is offering two 95% LTV deals, which will be welcomed by first-time buyers and benefit from no arrangement fees. Its two-year fixed rate offer has a rate of 4.95% while the five year fixed deal comes at a rate of 5.35%. The rates will be available from Monday, 7th April.
In its latest bid to challenge traditional lenders, The Post Office’s decision to join the Help to Buy scheme comes alongside other mortgage milestones, such as increasing its number of Mortgage Specialists in branch, and growing the product range.
John Willcock, Head of Post Office Mortgages, said:
“2014 is already proving to be an exciting year for Post Office mortgages, and we are pleased to announce our competitive Help to Buy rates as part of this. We are committed to offering the best deals possible for our customers, no matter what their needs.
“Every penny counts for first-time buyers looking to get on the first rung of the housing ladder. Our fee free deals will provide a helping hand for those in need of assistance, as they seek to realise their goal of becoming a homeowner. By strengthening our mortgage business, and offering buyers the opportunity to purchase a property in the way that best suits their needs, we hope to consolidate our position as a leading player in the market.”
Mike Joyce, Director Consumer Banking, Bank of Ireland UK, said:
“Bank of Ireland UK is pleased to be working with its long-term financial services partner, the Post Office, to provide competitive mortgage products to meet growing consumer demand. We believe it is important to support the first-time buyer market by increasing the supply of mortgage finance to assist people who aspire to own their own homes. Our participation in the Help To Buy scheme further strengthens our offering to the first time buyer market delivering competitive rates up to 95% LTV."
