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Post Office cuts mortgage rate

Post Office, a wholly-owned subsidiary of Royal Mail Group, has cut its three year fixed rate mortgage to 5.64%.

The mortgage carries a fixed arrangement fee of just GBP399 and can be taken out on up to 95% of a home’s value, giving Post Office customers a market leading deal.

Gary Fitton, director of lending at Post Office, said: This rate cut puts our mortgage product at the top of the comparison tables, further proving our commitment to offering customers value for money products.

As the mortgage market becomes ever more complex, our trial is investigating the need for more straightforward mortgages, providing good initial and long-term value with no hidden charges.