For the second time in the last month the Post Office has cut the rates on its fixed and tracker mortgage products. The rate changes will take effect immediately and will coincide with the launch of a new range of 75 per cent loan-to-value (LTV) mortgages.
Following cuts to the range at the end of January, the Post Office has further reduced the rates on its two, three and five year fixed rate deals for 60 per cent loan to value (LTV) and its 80 per cent LTV two year fixed deal.
In addition, it has introduced a range of 75 per cent LTV mortgages, including a tracker with a rate of 3.19 per cent, and two, three, and five year fixed products starting at just 3.89 per cent.
All Post Office mortgage customers benefit from a fixed arrangement fee of just £599 - one of the lowest in the market place.
Post Office mortgages manager, Alastair Watts, said: "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 to allow customers to lock into a great rate now. For existing homeowners, staying on their current SVR may seem like the best thing, but even ahead of any rises in the base rate we'd encourage them to look around to see if there's a better deal available elsewhere.
"The addition of our new 75 per cent LTV range means we can now offer mortgages to an even broader range of borrowers whilst continuing to provide competitive rates and long term value. All Post Office customers benefit from a fixed low arrangement fee, making it easier to work out the overall cost of a mortgage and not have to worry about any hidden fees or nasty surprises at the end of the mortgage term."
Print Article
|
|
||||||||
|
Date: 24th, February, 2010 |
Author: Ben Wilkie |
|
Protect all of your monthly outgoings in one flexible, value for money plan. Protect up to 90% of your salary and get the first month free. | |
|
||
|
First time buyer, home buyer, home mover or remortgaging?
Check out our mortgage 'best buys' supplied by Moneysupermarket.com updated daily and get a mortgage quote today. |
|
|
|
Switch Energy Supplier
Save up to £425 on your Gas and Electricity bills Now!
|
|
|
Postcode:
|
||
ADVICE TO READERS
While this website is checked for accuracy, we are not liable for any incorrect information included. We recommend that you make enquiries based on your own circumstances and, if necessary, take professional advice before entering into transactions.
Enter your postcode here to find out how much your property is worth, based on Land Registry data.
Enter the following information to calculate the amount you can borrow.
First Income: |
|
Second Income: |
|
RSS Feed
