Post Office rolls out extended mortgage range
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The Post Office has launched a range of fixed rate and tracker deals as it looks to boost its presence in the financial services sector.
Products are now available at over 250 larger Post Office branches while information on the products will be availale within all 12,000 Post Office brances nationwide.
The range includes a two-year fixed rate deal at 6.29% at 80% LTV, a three-year fixed rate deal at 4.59% at 60% LTV, and a five-year fixed rate deal at 5.75% at 80% LTV.
The deals all come with a £599 arrangement fee and revert to an SVR of Bank of England base rate plus 1.99%.
There is also a tracker on offer at 3.59% for the term of the mortgage at up to 80% LTV with a £599 fee.
Az Alibhai, head of lending at the Post Office, says: “Home buyers across the UK can now take advantage of the Post Office’s mortgage range, available through our unrivalled branch network, online and by phone.
“As our revert rate is priced at base plus 1.99%, 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.”
It follows Gordon Brown’s keynote speech to the Labour Party conference last month in which the prime minister pledged to use the Post Office to bring “banking services back to the heart of people’s communities.”
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