You are here: Home - Mortgages - Buy To Let - News -

Post Office to increase number of fee-free mortgages

Written by:
The Post Office has removed arrangement fees and reduced rates on a number of its direct-only mortgage products, available from today.

The biggest cut comes on its five-year fixed rate at 75% LTV, rates have been cut from 3.99% to 3.59% with the £1,495 arrangement fee also removed.

The announcement follows the Post Office’s decision to introduce ‘mortgage specialists’ into a number of its branches across the country, to allow customers to discuss its product range in branches.

Arrangement fees of £1,495 have also been removed from a number of other products, with valuation and legal work offered on two of its new range:
• Two-year fixed rate (no fee) at 3.65% (75% LTV)
• Three-year fixed rate (no fee) at 3.79% (75% LTV) includes valuation and standard legal work
• Five-year fixed rate (no fee) at 3.59% (75% LTV)
• Five-year fixed rate (no fee) at 4.09% (75% LTV) includes valuation and standard legal work

Mike Cook, head of mortgages at the Post Office, commented: “We constantly review our mortgage range to ensure we are offering customers choice and value for money.

“Many recent headline-grabbing rates have large booking or arrangement fees, and require a much larger deposit. Our new range means many customers with 25% deposit or less can benefit from great fixed rates with no arrangement fee, and some with valuation and legal fees included too.

“These deals will particularly help remortgage customers reduce their monthly payments without having to pay upfront fees.

“This move is the next step in giving customers a genuine alternative to major high street banks.”

Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co... Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
FSA to suggest ‘scrapping’ LIBOR

The Financial Services Authority (FSA) will today suggest scrapping LIBOR and replacing it with a borrowing rate based on actual...