Post Office reduces mortgage rates

Post Office has cut rates across its range of mortgages, cementing its position as one of the most competitive providers in the market. These new products will be available to customers from Monday 7th October.
 
The rate on its two-year fixed rate mortgage at 80% LTV (£995 fee) has been reduced from 2.55% to 2.38%, and from 3.29% to 2.89% on its two-year fixed mortgage at 85% LTV (£995), sending both deals soaring up the best buy tables.  The rate on its three-year fixed mortgage at 85% LTV (£995 fee) has also been reduced from 3.59% to 3.29%.
 
Other new rates include:

Three-year fixed rate (fee assisted with £1,495 fee) - 2.45% (75%)
Four-year fixed rate (£995 fee) - 3.09% (75%)
Three-year fixed rate (£1,495 fee) - 2.74% (80%)
Four-year fixed rate (£995 fee) - 3.39% (80%)
Four-year fixed rate (£995 fee) - 3.75% (85%)
Four-year fixed rate (£995 fee) - 4.45% (90%)
Five-year fixed rate (£995 fee) - 4.45% (90%)
 
John Willcock, Head of Post Office Mortgages, said: "Post Office has firmly put its stamp on the mortgage market this year, offering some of the most competitive mortgage deals in the market. We put our customers first and want to offer the best range possible. Our latest rate reductions provide great value deals whether you're a first-time buyer or looking to move. 
 
"Our five year fixed rate mortgage at 4.45% (90% LTV) is ideal for FTBs. Getting a foot on the first rung of the housing ladder can be a real struggle and saving for a deposit is often the biggest hurdle, deals that require a smaller deposit can go some way to easing the financial strain. We also offer our customers a range of ways in which to choose their deal; for example, our mortgage specialists in branch allow customers support as they navigate through what can sometimes be an overwhelming process."
 
Customers can pick up information about the new mortgage range and rates online at postoffice.co.uk/mortgages or from one of over 11,500 Post Office branches across the UK.