It has also expanded its range of fee-assisted products, with options including no arrangement fees, a free standard valuation, and free legal work or £300 cashback.
The Post Office says three of its mortgages are now best buys: its fee-free two-year fix at 4.55% available up to 85% LTV, its fee-assisted two-year fix at 4.35% available up to 85% LTV, and its buy-to-let two-year fix with a £1,495 fee at 4.95% available up to 75% LTV.
Rate reductions include the lender’s two-year fixed rate deal with a £995 fee available up to 90% LTV, which has been cut from 5.75% to 5.39%.
The same deal at 85% LTV has been reduced from 4.29% to 4.05%, while the lender’s five-year fix with a £995 fee available up to 90% LTV has been cut from 6.79% to 6.15%.
Mike Cook, head of mortgages at the Post Office, says: “We constantly review our mortgage range to ensure we are offering customers choice and value for money.
“We have some very compelling offers for first-time buyers and remortgagers, including options from as little as 10% deposit, many with standard valuation and £300 cashback included.”