Post Office Money has today announced the launch of a new Help to Buy fixed rate mortgage.
Product is for loans with very low deposits and has no arrangement fee. The two-year mortgage comes with a fixed rate of 3.89 per cent at 95 per cent loan-to-value (LTV).
The lender is also introducing its first ever cashback offers on select deals across its 85-90 per cent LTV range.
The introduced products complement the mortgage portfolio of the new Post Office Money brand, which aims to become one of the leading financial services providers in the country by 2020. The new brand is bundling all banking offers of the Post Office, seeking to challenge traditional players on the lending market.
“It is our intention that Post Office Money consistently provides new and competitively rated mortgages by responding to the needs of our customers and the wider market,” John Willcock, Head of Post Office Money Mortgages, said.
The new cashback offers include:
| LTV | Term | Fixed rate | Arrangement fee | Cashback |
| 85% | 2 years | 2.75% | £995 | £1,000 |
| 85% | 2 years | 3.15% | £0 | £1,000 |
| 85% | 5 years | 3.45% | £995 | £1,000 |
| 85% | 5 years | 3.95% | £0 | £1,000 |
| LTV | Term | Fixed rate | Arrangement fee | Cashback |
| 90% | 2 years | 3.39% | £995 | £1,000 |
| 90% | 2 years | 3.55% | £995 | £1,000 |
| 90% | 5 years | 3.95% | £995 | £1,000 |
| 90% | 5 years | 4.35% | £0 | £1,000 |
Customers can pick up information about the new mortgage range and rates online or from one of over 11,500 Post Office branches across the UK. Customers can also arrange a call-back from a mortgage specialist at the call centre, via all branches, or call the Post Office directly on 0800 077 8033. Terms and condition can be found at postoffice.co.uk.
