Post Office cuts mortgage rates

The Post Office has cut rates across its fixed rates, trackers, and buy-to-let mortgages. 

The rate changes will take effect immediately and coincide with the launch of a new 65% LTV deal with a rate of 2.85%.

The fixed rate cuts apply on all ranges up to 85% LTV across two, three and five-year options.  Lifetime trackers are reduced at 80%, 85%, and 90% LTV. 

It is now offering a two-year fixed rate at 3.94% for 85% LTV, a three-year fixed rate at 4.69% for 85% LTV and a new buy-to-let lifetime tracker at 4.99% for 75% LTV.

Marco Hughes, director of personal Lending, says: “We constantly review our mortgage range to ensure we are offering customers choice and value for money. Through these latest reductions, customers can benefit from our lowest fixed rate ever, at just 2.85% for two years.

“All Post Office customers benefit from a low revert rate, which provides genuine value, not just for the initial period but throughout the life of the mortgage.  The addition of a 65% LTV deal and the recent launch of the 90% LTV range gives customers, including first-time buyers increased choice and great value.”

In addition to the new buy-to-let lifetime tracker, rates have also been cut across the three-year and five-year fixed options, by 0.64% and 0.60% respectively.