The Post Office has decided to lower the rates on its fixed and tracker mortgage products for the second time in the last month.
It has been announced that the rate cuts will coincide with the launch of a new range of 75 per cent loan-to-value (LTV) mortgages.
The Post Office has reduced the rates on its two, three and five year fixed rate deals for 60 per cent LTV and its 80 per cent LTV two year fixed deal.
Furthermore, it has introduced a range of 75 per cent LTV mortgages, including a tracker with a rate of 3.19 per cent.
Alastair Watts, the manager of Post Office Mortgages, explained that the company decided to improve rates across its fixed-rate mortgage products "to allow customers to lock into a great rate now".
He said: "The addition of our new 75 per cent 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."
Meanwhile, the Council for Mortgage Lenders (CML) recently reported that first-time buyer mortgages hit a two-year peak in the final month of 2009 as homebuyers rushed to beat the end of the stamp duty holiday .
Post Office expands mortgage range
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Post Office expands mortgage range
Mon, 22 Feb 2010
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