The Post Office is rolling out a new expanded mortgage range, with information available at all UK Post Office branches, as the next step in the development of its highly successful financial services range.
The new mortgages will give borrowers even more choice and will include a base rate tracker, two and three year fixed rate deals and one of the leading five year fixed offers available. The new products build on the successful regional trial of Post Office Mortgages. Information will be available at all 12,000 Post Office branches across the UK, with dedicated staff available at over 250 larger branches to help customers with their mortgage enquiries. Customers will also be able to arrange a call-back from a mortgage specialist at our contact centre, via all branches. The expanded range will include: Five year fixed rate mortgages Term Initial Rate Revert Rate* Loan to Value (LTV) Arrangement Fee 5 year fixed 5.09 per cent 2.49 per cent 60 per cent £599 5 year fixed 5.75 per cent 2.49 per cent 80 per cent £599 Three year fixed rate mortgages Term Initial Rate Revert Rate* Loan to Value (LTV) Fee 3 year fixed 4.59 per cent 2.49 per cent 60 per cent £599 3 year fixed 5.89 per cent 2.49 per cent 80 per cent £599 Two year fixed rate mortgages Term Initial Rate Revert Rate* Loan to Value (LTV) Fee 2 year fixed 4.29 per cent 2.49 per cent 60 per cent £599 2 year fixed 6.29 per cent 2.49 per cent 80 per cent £599 Tracker mortgages Term Initial Rate Loan to Value Fee Mortgage term 3.59 per cent 80 per cent £599 All of the Post Office's mortgages come with a low fixed arrangement fee of just £599 - one of the lowest in the market place. And its revert rate, which borrowers switch to after their initial rate expires, is currently the lowest available in the market at 2.49 per cent*. Post Office head of lending, Az Alibhai said: "Homebuyers across the UK can now take advantage of the Post Office's range of competitive mortgages, available through our unrivalled branch network, online and by phone. We offer a choice of different products to meet different borrowing needs and all customers can benefit from our low fixed arrangement fee. "What's more, as our revert rate is currently the best in the market and tied to the base rate, customers on fixed rate deals won't be in for any nasty surprises once their initial rate period ends and can expect good long term value. "We have extended the accessibility of our mortgages meaning that in over 250 larger Post Office branches, customers will be able to discuss their borrowing needs with a dedicated member of the branch team. Customers can also arrange a call-back from a dedicated mortgage specialist from our contact centre via their local Post Office branch." A range of Buy To Let products will continue to be available.
Date: 20th, October, 2009
Author: Ben Wilkie
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