Post Office Money has reduced the rate of its three-year fixed rate Help to Buy mortgage by 0.11%, earning it the top accolade as a result.
This mortgage now has a rate of 4.48% fixed until 31.12.18, the lowest rate currently available in its sector. It is available at a loan-to-value (LTV) of 95% and has absolutely no product fees.
As this is deal falls under the Help to Buy guarantee, it is only available to house purchase customers with a modest deposit of just 5%. There are no incentives accompanying the mortgage, but borrowers do have the potential option to reduce their mortgage term by making overpayments of up to 10% of the outstanding mortgage balance.
The latest rate decrease to this deal has cemented its place in the charts. Borrowers with only a small deposit are therefore likely to view this offer with interest, particularly as it is accompanied by no product fees, while the option to make overpayments further enhances its appeal and adds some welcome repayment flexibility. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: outstanding
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