Post Office Money has reduced the fee paid on its two-year fixed rate mortgage, shoring up its position on the Moneyfacts charts.
This mortgage has a competitive rate of 1.88% fixed until 31.12.17, enabling it to sit comfortably on the charts. It is available at a loan-to-value (LTV) of 85% and has a new fee of £995.
This deal is open to all borrowers with a deposit of 15%. An incentive package of free valuation is available, and those looking to remortgage their property can take advantage of free legal fees, too.
Overpayments of up to 10% of the outstanding balance are permitted, giving borrowers some welcome repayment flexibility.
The cut to the fee charged on this mortgage has honed its competitive edge and secured its place on the charts. Eligible borrowers are likely to be pleased by this latest update, especially if they are looking to remortgage, as when combined with the generous incentive package, the reduced fee will help to keep upfront costs down.
Moneyfacts rating: Excellent
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