Post Office launches new range of 75% LTV mortgages

The Post Office has cut the rates on its fixed and tracker mortgage products for the second time in a month. The changes come into effect immediately and coincide with a new range of 75% loan-to-value (LTV) mortgages that the Post Office is launching.

The previous rates cuts were made at the end of January, but the Post Office has now further reduced the rates offered on its two, three and five year fixed rate deals for 60% LTV mortgages and 80% LTV two year fixed deal.

In addition, it has introduced a range of 75% LTV mortgages, including a tracker with a rate of 3.19%, and two, three, and five year fixed products starting at just 3.89%.

Alastair Watts, Mortgages Manager, Post Office, said:

“With speculation that we could see a rise in the bank base rate soon, we’ve acted early and improved the rates on our fixed rate mortgages to allow customers to lock into a great rate now. For existing homeowners, staying on their current SVR may seem like the best thing, but even ahead of any rises in the base rate we’d encourage them to look around to see if there’s a better deal available elsewhere.”

“The addition of our new 75% LTV range means we can now offer mortgages to an even broader range of borrowers whilst continuing to provide competitive rates and long term value.”