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Post Office launches new range starting at 1.98%

The Post Office has launched arange of next products with rates starting at 1.98 per cent.

There are 22 new products, with all bar four available to brokers.

The cheapest product available to brokers is a two-year fix to 75 per cent LTV priced at 1.98 per cent with £995 fee, while a fee-free 65 per cent LTV two-year fix is available at 2.38.

A two-year tracker is set at base rate plus 1.24 per cent, available up to 60 per cent LTV with £995 arrangement fee. A 75 per cent LTV option is priced at base rate plus 1.45 per cent.

The four in-branch exclusives are all fixed for two-years, with a 75 per cent deal priced at 2.58 per cent. An 80 per cent LTV option is offered at 3.19, 85 per cent LTV at 3.79 per cent and finally a 90 per cent LTV two-year fix is offered at 4.79 per cent.

No fees are attached to any of the in-branch products.

Post Office head of mortgages John Willcock says: “In a competitive market it is important to stand out, and with our rates and service offering we are able to offer customers an alternative to traditional high-street lenders. 

“Customers want to know they’re in safe hands when it comes to taking out a new mortgage. A big part of this is ensuring they feel reassured by the service and information they receive – and that as well as knowing they are getting the best deal.” 

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  • Tony Moore 3rd September 2014 at 11:36 am

    I would have thought Post Office should be concentrating on clearing their current back log before launching new schemes to try and attract new business!