Post Office cuts mortgage rate again

Published: February 27, 2008

The Post Office has announced a further reduction to it three-year fixed-rate mortgage.

It means that the deal now comes with a 5.34 per cent rate, with the firm claiming that this makes it the most competitive deal of its kind on the high street.

Further to this, the mortgage comes with an arrangement fee of just £399 and can come with a loan-to-value (LTV) of up to 95 per cent.

"In the current market we are keen to pass on as much value as possible to our customers, which is why we have reduced our rates even further today," said Gary Fitton, Post Office director.

"People who are looking to get on the property ladder or who are coming to the end of a fixed-rate deal, face either high arrangement fees or SVRs (Standard Variable Rates).

"Our three-year deal offers a low-cost product that guarantees customers peace of mind with one of the lowest fixed-rates on the market, coupled with a low arrangement fee," he continued.

ThePost Office has previously cut the rate on this particular deal on three occasions.