Post Office mortgage rates cut

Post Office mortgage rates cut

22 January 2010 / by Rachael Stiles

The Post Office has announced that it is cutting the cost of its mortgage range, including tracker and fixed rates.

The changes to the Post Office mortgage range will take effect immediately, offering borrowers a 'market leading' tracker mortgage, with a loan to value of 80 per cent at a rate of 3.49 per cent.

Other tracker mortgages on offer include a 60 per cent deal at 2.99 per cent, reduced from 3.29 per cent.

Fixed rate mortgages for two, three, and five years have also come down, offering 60 per cent loan to value at rates of 3.69 per cent, 4.35 per cent, and 5.00 per cent, respectively.

All of the Post Office mortgage products come with a competitive arrangement fee of £599, which, it boats, is one of the lowest arrangement fees in the mortgage market.

Head of lending at the Post Office, Az Alibhai, said: "Since announcing our expanded range we have seen a great deal of interest from both new and existing Post Office customers. These rate changes are a clear sign we are committed to offering competitive and market leading rates across our range, giving customers both great value and a wide range of choice."

The fixed arrangement fee makes it easier for borrowers to calculate the total cost of their mortgage, Alibhai added.

Click on the link below to compare Post Office mortgage quotes with other leading deals from across the market:

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