Post Office cuts its fixed rate mortgages

The Post Office has announced its fourth rate cut of the year to its fixed rate mortgages, which its says reflect its ambition to become a leading player in the mortgage market.

Following cuts to the range in January, February and March, the Post Office has now reduced the rates on its two and five-year fixed rate deals at 60%, 75% and 80% LTV. 

The new rates are available with immediate effect and are available online and from Post Office branches across the UK.

It is now offering a two-year fixed rate at 3.15%, at 75% LTV, a three-year fixed rate at 4.09% at 60% LTV and a five-year fixed rate at 4.84%, up to 80% LTV.

Marco Hughes, director of personal lending at the Post Office, says: “We believe in offering customers long-term value and we have demonstrated this by cutting our mortgage rates for the fourth time this year. 

“When combined with our low revert rate these reductions further prove our commitment to providing genuine value, not just for the initial period, but throughout the life of the mortgage.

“The Post Office is a committed player in the mortgage market, and we are constantly challenging the traditional high street lenders. To support this we are dedicated to growing and expanding our mortgage range and expect to announce further new rates and products in the near future.”