19
Aug
Post Office 'gives homebuyers value mortgages'
Homebuyers looking to purchase a house for sale in the UK have been
encouraged to sign up to a Post Office mortgage after it revealed
its latest offers.
Earlier this week, the mortgage provider announced it has cut its
rates across fixed-rate, tracker and buy-to-let mortgages.
It also launched its latest product, which allows borrowers to take
out a mortgage with a loan-to-value (LTV) of 65 per cent at a rate
of 2.85 per cent.
Marco Hughes, Post Office director of personal lending, said:
"Through these latest reductions, customers can benefit from our
lowest fixed rate ever."
He added that these changes were intended to provide borrowers
"value for money" throughout their mortgages.
The Post Office also announced its latest tracker 90 per cent LTV
mortgage, which is aimed directly at first-time buyers who would
only need a deposit of ten per cent.
This is likely to attract many people wanting to step on to the
property ladder after Ray Boulger, a spokesman for John Charcol,
said big deposits are creating problems for first-time
buyers.