Post Office offers 75% LTV 5 year fixed deal with no arrangement fee

The Post Office is cutting mortgage rates by up to 0.40% on many of its fixed rate mortgages products, while also reducing or removing arrangement fees on selected products.
 
The largest cut is to its five year fixed rate at 75% LTV - from 3.99% to 3.59% (a reduction of 0.40%). The £1,495 arrangement fee on this product has also been removed.

Many of the Post Office's new deals see arrangement fees of up to £1,495, reduced or removed, with free standard legal work and a standard valuation offered across some products. The following products have arrangement fees removed entirely include:

Two year fixed rate (no fee) at 3.65% (75% LTV)
Three year fixed rate (no fee) at 3.79% (75% LTV) includes valuation and standard legal work
Five year fixed rate (no fee) at 3.59% (75% LTV)
Five year fixed rate (no fee) at 4.09% (75% LTV) includes valuation and standard legal work

These rate reductions come at the same time Post Office introduces Mortgage Specialists to five of its larger branches in the UK. The Mortgage Specialists will be able to discuss each individuals needs and answer questions to help customers make an informed decision about the suitability of the products. In addition, the majority of customers will be able to get a decision in principle within minutes. First time buyers, those wishing to move, or customers looking to switch to a better deal will be able to book a free, no-obligation appointment in selected branches.

Mike Cook, Head of Post Office Mortgages said: "We constantly review our mortgage range to ensure we are offering customers choice and value for money. Many recent headline-grabbing rates have large booking or arrangement fees, and require a much larger deposit. Our new range means many customers with 25% deposit or less can benefit from great fixed rates with no arrangement fee, and some with valuation and legal fees included too. These deals will particularly help remortgage customers reduce their monthly payments without having to pay upfront fees.

"This a very exciting time for Post Office Mortgages. As well as offering a new range of products we are currently in the process of launching our in-branch Mortgage Specialists.  We understand that finding the right mortgage can be complex and our specially trained Mortgage Specialists can assist our customers through the process. This move is the next step in giving customers a genuine alternative to major high street banks."

For more information, visit postoffice.co.uk.