Post Office cuts mortgage rates

The Post Office has announced rate cuts to its full range of fixed rate mortgages, with immediate effect, reflecting its ongoing ambition to become a leading player in the mortgage market.  This includes a cut of one per cent to its five year 80% loan to value mortgage (LTV).

Following cuts to the range at the end of January and February, the Post Office has further reduced the rates on all of its two, three and five year fixed rate deals at 60%, 75% and 80% LTV.  There have also been cuts to the three and five year fixed rate buy to let deals at 75% LTV as well as the launch of a new three year and five year fixed rate buy to let mortgages at 60% LTV.

Many of the new rates available will immediately become some of the most competitive in the market such as:

2 year fixed rate at 4.15% (80% LTV)
3 year fixed rate at 4.09% (60% LTV)
5 year fixed rate at 4.89% (80% LTV)

Post Office Director of Personal Lending, Marco Hughes, said: "We believe in offering great rates not only for the initial period but across the life of the mortgage.  With speculation mounting that the base rate will move up in the next few months these new rates give our customers a fantastic opportunity to lock in a deal now."