Press release -
Post Office continues to cut mortgage rates
- Post Office continues to reduce mortgage rates across a range of fixed products
- Lowest two-year fixed rate deal is now 1.63%
- Post Office continues to offer customers some of the most competitive deals on the market with its latest raft of new mortgage rates.
The rate on its two-year fixed rate mortgage (60% LTVThis stands for Loan to Value. It’s the amount of mortgage expressed as a percentage of the value of the property or purchase price, whichever is lower. For example, a mortgage of £80,000 on a purchase price of £100,000 would be 80% LTV. If the valuation of the property is lower than the price you've agreed, the LTV will be based on the valuation., £1,995 fee) has been reduced from 1.70% to 1.63%, and its three-year fixed mortgage at 75% LTVThis stands for Loan to Value. It’s the amount of mortgage expressed as a percentage of the value of the property or purchase price, whichever is lower. For example, a mortgage of £80,000 on a purchase price of £100,000 would be 80% LTV. If the valuation of the property is lower than the price you've agreed, the LTV will be based on the valuation. (£0, fee assistedOur fee assisted products have a free standard valuation and if you’re remortgaging, free standard legal work via our nominated solicitors to help you keep the upfront costs down. You can upgrade to a full homebuyer survey for an additional fee – call us for more details. ) has seen its rate reduced from 2.99% to 2.75%.
Other deals include:
- Two-year fixed rate (£995 fee) reduced from 2.19% to 1.98% (75%)
- Two-year fixed rate (£0 fee assistedOur fee assisted products have a free standard valuation and if you’re remortgaging, free standard legal work via our nominated solicitors to help you keep the upfront costs down. You can upgrade to a full homebuyer survey for an additional fee – call us for more details. ) reduced from 2.99% to 2.59% (75%)
- Five-year fixed rate (£0 fee assistedOur fee assisted products have a free standard valuation and if you’re remortgaging, free standard legal work via our nominated solicitors to help you keep the upfront costs down. You can upgrade to a full homebuyer survey for an additional fee – call us for more details. ) reduced from 4.39% to 4.29% (85%)
The Post Office has been forging ahead in the mortgage market this year, with many rate reductions sending products soaring to the top of best-buy tables.
These products will be available to customers from 12 September.
John Willcock, Head of Post Office Mortgages, said: “This has been an excellent year for Post Office mortgages; we have consistently offered some of some of the best rates in the market. We continue to offer a range of great value deals for potential homebuyers, whatever their situation.
“When it comes to buying a home, every penny counts and we are committed to helping our customers to move up the ladder which is why many of our rates have been reduced, and some deals are free of arrangement fees. The diversity of our range means we have deals for everyone from first-time buyers through to those looking to move home or remortgage. At the Post Office, we always put our customers first and we continue to strive to offer the best possible products to help them onto and up the property ladder.
“Not only do we offer customers a range of deals to choose from, we also offer them a choice on how they buy. The introduction of our mortgage specialists into certain branches last year means they are on hand to give friendly and knowledgeable advice for anyone on what is best for them.”
Customers can pick up information about the new mortgage range and rates online at postoffice.co.uk/mortgages 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 0800Calls to 0800 numbers are normally free from UK landlines but charges may apply from mobile phones. Calls may be monitored or recorded for training and compliance purposes. 077 8033. Terms and condition can be found at postoffice.co.uk.
Full details of all mortgages available:
60% LTV Fixed rates
Rate and Arrangement Fee | ||
2 Year | 1.63% fixed | £1,995 |
2 Year | 2.19% fixed | £995 Fee Assisted |
2 Year | 2.49% fixed | £0 Fee Assisted |
3 Year | 2.45% fixed | £995 Fee Assisted |
3 Year | 2.69% fixed | £0 Fee Assisted |
70% LTV Fixed rates
Rate and Arrangement Fee | ||
2 Year | 1.98% fixed | £995 |
2 Year | 2.29% fixed | £995 Fee Assisted |
2 Year | 2.59% fixed | £0 Fee Assisted |
3 Year | 2.19% fixed | £1,495 |
3 Year | 2.32% fixed | £995 |
3 Year | 2.55% fixed | £995 Fee Assisted |
3 Year | 2.75% fixed | £0 Fee Assisted |
5 Year | 2.99% fixed | £1,495 |
5 Year | 3.35% fixed | £995 |
5 Year | 3.45% fixed | £0 |
5 Year | 3.45% fixed | £995 Fee Assisted |
5 Year | 3.55% fixed | £0 Fee Assisted |
80% LTV Fixed rates
Rate and Arrangement Fee | ||
2 Year | 2.55% fixed | £995 |
2 Year | 2.69% fixed | £995 Fee Assisted |
2 Year | 2.99% fixed | £0 Fee Assisted |
3 Year | 2.84% fixed | £995 |
3 Year | 2.99% fixed | £995 Fee Assisted |
3 Year | 3.35% fixed | £995 |
5 Year | 3.39% fixed | £995 |
5 Year | 3.59% fixed | £995 Fee Assisted |
5 Year | 3.95% fixed | £0 Fee Assisted |
85% LTV Fixed rates
Rate and Arrangement Fee | ||
2 Year | 3.29% fixed | £995 |
2 Year | 3.45% fixed | £0 |
2 Year | 3.75% fixed | £0 Fee Assisted |
3 Year | 3.59% fixed | £995 |
3 Year | 3.99% fixed | £0 Fee Assisted |
5 Year |
Customers can pick up information about the new mortgage range and rates online at http://www.postoffice.co.uk/mortgages or from one of over 11,500 Post Offices 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 0800Calls to 0800 numbers are normally free from UK landlines but charges may apply from mobile phones. Calls may be monitored or recorded for training and compliance purposes. 077 8033. To view the terms and conditions for the offer, please visit http://www.postoffice.co.uk
Contact - Carmel McCarthy
Categories
About the Post Office
The Post Office (Post Office Limited) has an unrivalled national network of over 11,500 branches across the UK, more than all the high street banks combined, and sits at the heart of communities in Northern Ireland, Scotland, Wales and England. The Post Office has made a commitment to maintaining its network of branches at its current size and reach. It provides around 170 different products and services spanning financial services including savings, insurance, loans, mortgages and credit cards; Government services; telephony; foreign currency; travel insurance and mail services.
The Post Office serves over 17 million customers a week and a third of small businesses. Some 99.7% of the total population live within three miles of a post office and over 97% live with one mile of a post office. For many rural communities, the post office is the only retail outlet. Post Offices branches remain highly valued and trusted, and are the focal point of many communities. For more information, visit http://www.postoffice.co.uk/.
Please note the Press Office team can only deal with enquiries from the media. Unfortunately they do not have access to customer information so can not help with customer enquiries.
If you have an enquiry regarding any Post Office product or service please visit postoffice.co.uk or call 0845Local call rates apply. Call costs may vary depending on your service provider. Calls may be monitored or recorded for training and compliance purposes. 611 2970.
