Post Office slashes mortgage rates

Those looking for a cheap mortgage will be interested to hear that the Post Office has cut the rates across its fixed-rate, tracker and buy-to-let mortgages.

The fixed rates have been slashed across all deals with a loan-to-value LTV of 85 per cent over two, three and five years, while lifetime trackers have been reduced at 80 per cent, 85 per cent and 90 per cent.

The interest rate on a two-year fixed rate with an 85 per cent LTV now stands at 3.94 per cent, while a three-year fixed rate with an 85 per cent LTV now boasts a rate of 4.69 per cent.

Post Office director of personal lending, Marco Hughes, said: "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 per cent for two years."

He added that the firm's new 65 per cent LTV deal as well as its 90 per cent LTV options mean that all customers are catered for.

Ray Boulger, senior technical manager at John Charcol, recently stated that fixed-rate mortgages are proving popular with customers at the moment.
 

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2010-08-16 13:08:38 © Moneyextra.com