4 Oct

Post Office launches new mortgage to help people buy houses for sale in the UK

Post Office launches new mortgage to help people buy houses for sale in the UK

The Post Office has released new mortgage offers to help people looking to buy houses for sale in the UK to secure their finances.

From Saturday (October 2nd 2010), customers have been able to access the latest deals from the financial services provider, such as a reduction of 0.34 per cent on existing fixed-rate options.

Other offers include a two-year fixed 'fee-free' rate at 4.25 per cent on mortgages at 80 per cent loan-to-value (LTV) and a three-year fixed-rate at 5.69 per cent on mortgages of 90 per cent LTV.

Speaking on the latest products, Marco Hughes, director of personal lending for the Post Office, said: "We are committed to helping as many borrowers as possible find an affordable mortgage that meets their needs."

He added that Financial Services Authority statistics showed that the 37 per cent of homeowners are borrowing at a rate of 4.5 per cent or more, making the Post Office's new offers tempting for homeowners looking to switch mortgages.

This move comes less than two months after the Post Office reduced its mortgage rates on all fixed-rate products up to 85 per cent LTV, as well as cutting tracker rates on mortgages of 80, 85 and 90 per cent LTV.  ADNFCR-1222-ID-800097388-ADNFCR

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