19 Feb

Post Office unveils new mortgage rates

Post Office unveils new mortgage rates

The Post Office has announced that it will cut rates across its fixed-rate products by up to 0.24 percentage points on some of its deals.

Borrowers taking out a two-year fixed-rate mortgage with a loan-to-value (LTV) of up to 60 per cent will now be able to receive a rate of 3.45 per cent, down from 3.69 per cent.

Other products with an LTV of 75 per cent have also been introduced by the lender across its fixed-rate and tracker ranges.

Two, three and five-year fixed-rate deals will now be available with an LTV of 75 per cent and rates ranging from 3.89 per cent to 4.99 per cent.

A tracker product with the same LTV will be on offer to borrowers with an introductory rate of 3.19 per cent.

All of the loans carry a £599 arrangement fee.

Post Office mortgages manager Alastair Watts commented: "With speculation that we could see a rise in the bank base rate soon, we've acted early and improved the rates on our fixed-rate mortgages."

On February 4th, the Bank of England's Monetary Policy Committee decided to hold the base rate of interest at 0.5 per cent for the eleventh consecutive month since it was reduced to that level in March 2009.ADNFCR-1222-ID-19625765-ADNFCR

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