The Post Office is cutting its mortgage rates by as much as 0.4 per cent as it enters the current battle for well-credited consumers.
It has also reduced or removed arrangement fees on selected products.
The move comes as the organisation announced it would be including mortgage experts in its branches.
Its largest cut is to a five-year fixed rate at 75 per cent loan-to-value (LTV), which has dropped from 3.99 per cent to 3.59 per cent, while the £1,495 arrangement fee has also been removed.
The Post Office’s two year fixed rate at 3.65 per cent, 75 per cent LTV, three-year fixed rate at 3.79 per cent, 75 per cent LTV, five year fixed rate at 3.59 per cent, 75 per cent LTV and five year fixed rate at 4.09 per cent, 75 per cent LTV have all had their fees removed.
Head of Post Office mortgages Mike Cook said: “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 per cent 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.”
