Mortgage rates at Post Office are being cut by up to 0.47 per cent on a number of its fixed rate and tracker products, which will be available to customers immediately.
The range of ‘fee saver’ products will also be increased.
The best-selling five year fixed rate mortgage, at 75 per cent loan to value and with no arrangement fee, has also been reduced by 0.14 per cent.
The biggest cut is to its three year fixed rate at 75 per cent loan-to-value from 3.45 per cent to 2.98 per cent.
The number of ‘fee saver’ products have been expanded across 2, 3 and 5 year fixed rates and will help reduce the upfront costs involved with buying a property or switching an existing mortgage. These deals have no arrangement or booking fee and include free standard legal work and a standard valuation.
John Willcock, head of Post Office Mortgages, said: “At Post Office, we are constantly reviewing our mortgage offering to ensure we provide customers with the best value possible. We are pleased to be able to expand our current range to offer low interest rates and reduced fees on mortgages. In doing this, we hope to provide options to suit a variety of customers, whether they are first time buyers, homeowners looking to remortgage and those with varying deposits.”
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